Last checked at 13 Dec 2022 08:49
Wizz Air Holdings Plc
Wizz Air Omnibus Plan award grants
Geneva, 13 December 2022 - Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the fastest-growing European airline, announces the granting of awards under omnibus share plan ("Omnibus Plan"), including a Long-Term Incentive Plan ("LTIP") and a senior leadership growth plan ("SLGP"), to a person discharging management responsibilities ("PDMR") as set out below and based on the approval of the Remuneration Committee, as at 25 July 2022.
LTIP Awards of Performance Options:
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Ian Ogden Malin | |||
2. | Reason for the notification | ||||
a) | Position / status | Executive Vice President & Group 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 Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
NIL | 20,360 | ||||
e) | Aggregated information · Aggregated volume · Price |
20,360 NIL | |||
f) | Date of the transaction | 14 November 2022 | |||
g) | Place of the transaction | Budapest, Hungary | |||
For the LTIP Awards, the performance share awards will be subject to conditions set out below:
(i) 90% of an award will vest subject to 15% CAGR in the Company's share price over the next three-year period. The threshold growth level is 7.5% CAGR for which 25% of the award vests with straight line vesting in between these two points. Base period for calculation is VWAP over 1H CY 2022 - tested against share price at end of period VWAP 1H CY 2025; and
(ii) 10% of an award will vest based on the achievement of ESG targets, the criteria for which will be people and environment both weighted at 5%. If the minimum threshold CAGR of 7.5% is not achieved no ESG portion will vest.
SLGP Awards of Performance Options:
5. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Ian Ogden Malin | |||
6. | Reason for the notification | ||||
a) | Position / status | Executive Vice President & Group Chief Financial Officer | |||
b) | Initial notification / amendment | Initial notification | |||
7. | Details of the issuer | ||||
a) | Name | Wizz Air Holdings Plc | |||
b) | Legal entity identifier | 213800COXGZCORLJZA85 | |||
8. | 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 | 28,510 | ||||
e) | Aggregated information · Aggregated volume · Price | 28,510 | |||
f) | Date of the transaction | 14 November 2022 | |||
g) | Place of the transaction | Budapest, Hungary | |||
The SLGP Awards, which are one-off awards, will be subject to the following performance conditions:
(a) 100% of an award will vest subject to 20% CAGR in the Company's share price over a five-year period. The threshold growth level is 15% CAGR for which 0% of the award vests with straight line vesting in between these two points. Base period for calculation is VWAP over 1H CY 2021 - tested against share price at end of period VWAP 1H CY 2026; and
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.
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ABOUT WIZZ AIR
Wizz Air, the fastest growing European ultra-low-cost airline and one of the most sustainable, operates a fleet of 175 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 40.0 million passengers in the financial year F20 ending 31 March, 2020 and 27.1 million passengers in the financial year F22 ending 31 March 2022. 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. Wizz Air is a recipient of CAPA's prestigious Global Environmental Sustainability Airline Group of the year award, 2022.
For more information: | ||
Investors: | Zlatko Custovic, Wizz Air | +36 1 777 9407 |
Media: | Zsuzsa Trubek, Wizz Air
Edward Bridges / Jonathan Neilan, FTI Consulting LLP: | +36 70 652 4115
+44 20 3727 1017 |