4 Apr 2022 13:09
4 April 2022
THE VITEC GROUP PLC
Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)
Deferred Bonus Plan - Vesting of 2019 Awards
The Vitec Group plc ("the Company") announces that the following transactions were undertaken by Directors and PDMRs in the ordinary shares of the Company on 4 April 2022 in connection with the maturity of the 2019 Deferred Bonus Plan ("DBP"). In summary, for the 2019 DBP, each Director or PDMR deferred a proportion of their 2018 annual cash bonus into the DBP. The deferred bonus was used to purchase shares in the Company at a price of £11.49 per share ("DBP award shares") that were held in the Employee Trust for a three-year deferral period. No performance conditions are attached to the DBP award shares and dividends paid during the deferral period on the DBP award shares have been automatically reinvested in additional dividend shares. There are no matching award shares that can be earned on the DBP award shares.
Stephen Bird, Group Chief Executive
Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
Transfer of DBP award shares (including associated dividend shares) | 4 April 2022 | 9,056 (of which 8,715 were DBP award shares) | 9,056 | £13.60 |
Martin Green, Group Finance Director
Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
Transfer of DBP award shares (including associated dividend shares) | 4 April 2022 | 5,342 (of which 5,141 were DBP award shares) | 5,342 | £13.60 |
Marco Pezzana, PDMR
Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
Transfer of DBP award shares (including associated dividend shares) | 4 April 2022 | 2,956 (of which 2,845 were DBP award shares) | 2,956 | £13.60 |
Jon Bolton, PDMR
Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
Transfer of DBP award shares (including associated dividend shares) | 4 April 2022 | 1,119 (of which 1,077 were DBP award shares) | 1,119 | £13.60 |
Deferred Bonus Plan (DBP) - 2022 Awards
The Vitec Group plc ("the Company") announces that awards under the Deferred Bonus Plan ("DBP") have been made on 4 April 2022 following purchases of ordinary shares of 20 pence each by the following Executive Directors and PDMRs following the deferral of the 2021 bonus. The shares were purchased at an average price of £13.508 and will be held by Apex Fund Services in a nominee capacity on behalf of the Executive Directors and PDMRs.
The shares purchased will be held for three years until vesting under the normal operation of the DBP.
There are no performance conditions or matching shares associated with the DBP.
Name | Position | Number of shares purchased for 2022 DBP Award | Percentage of 2021 annual bonus deferred | Current shareholding following 2019 DBP vesting and 2022 DBP award*
| % of 2022 salary held for Executive Directors*** |
Stephen Bird | Group Chief Executive | 11,115 | 50% | 207,643 (19,328)** | 578% |
Martin Green | Group Finance Director | 8,313 | 50% | 82,934 (13,911) | 308% |
Marco Pezzana | PDMR | 4,678 | 30% | 98,566 (8,186) | - |
Nicola Dal Toso | PDMR | 4,232 | 30% | 10,232 (4,232) | |
Jon Bolton | PDMR | 1,551 | 20% | 33,418 (2,594) | - |
* The number in brackets refers to the number of ordinary shares purchased in the market with funds provided by the Executive Director or PDMR and which are held by Apex Fund Services, the Trustee used to hold shares in respect of awards made under The Vitec Group 2014 Deferred Bonus Plan.
** Stephen Bird's current shareholding also reflects 2,000 shares held through a connected person.
*** Based on closing mid-market share price on 1 April 2022.
Enquiries:
Jon Bolton
Group Company Secretary
020 8332 4600
A snapshot of The Vitec Group plc
Vitec is a leading global provider of premium branded hardware products and software solutions to the growing content creation market.
Vitec's customers include broadcasters, film studios, production and rental companies, photographers, independent content creators, gamers, professional sound crews and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, bags, backgrounds and motion control, audio capture and noise reduction equipment.
We employ around 2,000 people across the world in 11 different countries and are organised in three Divisions: Imaging Solutions, Production Solutions and Creative Solutions.
The Vitec Group plc is listed on the London Stock Exchange.
More information can be found at: www.vitecgroup.com
LEI number: 2138007H5DQ4X8YOCF14