Last checked at 10 Jun 2020 08:17
Wizz Air Holdings Plc
Wizz Air Long Term Incentive Plan ("LTIP") award grants
Geneva, 10 June 2020 - Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the largest low-cost airline in Central and Eastern Europe, announces the granting of awards under its LTIP, to a number of persons discharging management responsibilities ("PDMRs").
On 4 June 2020, following approval by the Company's Remuneration Committee, Wizz Air made a grant of options under the LTIP over 198,079 ordinary shares in the capital of Wizz Air of £0.0001 par value (identification code JE00BN574F90) ("Awards") to PDMRs as set out below.
The following PDMRs were granted Awards of Performance Options:
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | József Váradi | |||
2. | Reason for the notification | ||||
a) | Position / status | Chief Executive Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 42,562 |
| ||
e) | Aggregated information · Aggregated volume · Price |
42,562 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Diederik Pen | |||
2. | Reason for the notification | ||||
a) | Position / status | Executive Vice President & Group Chief Operations Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 25,184 |
| ||
e) | Aggregated information · Aggregated volume · Price |
25,184 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Johan Eidhagen | |||
2. | Reason for the notification | ||||
a) | Position / status | Chief People Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 14,672 |
| ||
e) | Aggregated information · Aggregated volume · Price |
14,672 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Owain Jones | |||
2. | Reason for the notification | ||||
a) | Position / status | Managing Director WUK | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 12,227 |
| ||
e) | Aggregated information · Aggregated volume · Price |
12,227 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | George Michalopoulos | |||
2. | Reason for the notification | ||||
a) | Position / status | Chief Commercial Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 17,117 |
| ||
e) | Aggregated information · Aggregated volume · Price |
17,117 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Marion Geoffroy | |||
2. | Reason for the notification | ||||
a) | Position / status | Chief Corporate Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Shares | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 14,672 |
| ||
e) | Aggregated information · Aggregated volume · Price |
14,672 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Heiko Holm | |||
2. | Reason for the notification | ||||
a) | Position / status | Chief Operations Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Shares | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 17,117 |
| ||
e) | Aggregated information · Aggregated volume · Price |
17,117 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Jourik Hooghe | |||
2. | Reason for the notification | ||||
a) | Position / status | EVP & Chief Financial Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Shares | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 25,184 |
| ||
e) | Aggregated information · Aggregated volume · Price |
25,184 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Joel Goldberg | |||
2. | Reason for the notification | ||||
a) | Position / status | Chief Digital Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3/ | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 14,672 |
| ||
e) | Aggregated information · Aggregated volume · Price |
14,672 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | András Sebők | |||
2. | Reason for the notification | ||||
a) | Position / status | Chief Supply Chain Officer | |||
b) | Initial notification / amendment | Initial notification | |||
3. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 each | |||
| Identification code | JE00BN574F90 | |||
b) | Nature of the transaction | Grant of Performance Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| NIL | 14,672 |
| ||
e) | Aggregated information · Aggregated volume · Price |
14,672 NIL | |||
f) | Date of the transaction | 4 June 2020 | |||
g) | Place of the transaction | N/A | |||
The performance condition applicable to the Performance Options as set by the Remuneration Committee is:
Total shareholder return ("TSR") relative to the TSR of certain selected European airlines. The base measure for TSR will be the average trading price of shares during the 30 days immediately before the reference date (30 May 2020), and the closing measure will be the average trading price of shares during the 30 days immediately before the third anniversary of the reference date. At vesting, pay-out is to be 25% of the award for TSR performance equal to median performance, with a 100% pay-out for performance equal to, or exceeding, upper quartile performance. Linear interpolation will apply for performance between the median and upper quartile.
All vested options must be exercised within ten years of the date of grant. If exercised, then the underlying shares of the vested options will be issued at nil cost to the option holders. No amounts have been paid by the relevant PDMRs for the grant of these options.
-End-
ABOUT WIZZ AIR
Wizz Air, the largest low-cost airline in Central and Eastern Europe, operates a fleet of 122 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 40 million passengers in the last 12 months. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service.
For more information:
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Investors: | Evelin Horvath, Wizz Air | +41 22 555 9863 |
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Media: | Tamara Vallois, Wizz Air: | +36 1 777 9324 |
| Edward Bridges / Jonathan Neilan, FTI Consulting LLP: | +44 20 3727 1017 |