Last checked at 5 Feb 2024 17:26
Wizz Air Holdings Plc
Wizz Air Omnibus Plan award grants
Geneva, 5 February 2024 - 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") to a number of persons discharging management responsibilities ("PDMRs").
Wizz Air makes a grant of options ("Options") under the Omnibus Plan as Long-Term Incentive Plan awards ("LTIP Awards"), in the amount of 63,502 ordinary shares in the capital of Wizz Air of £0.0001 par value (identification code JE00BN574F90) to PDMRs as set out below.
The following PDMRs, who joined the Company following 13 July, 2023 (date of original grant of LTIP award for fiscal year 2024 were granted LTIP Awards following the approval of the Remuneration Committee:
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Silvia Mosquera Gonzalez | |||
2. | Reason for the notification | ||||
a) | Position / status | Executive Vice President and Group 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 LTIP Award in the form of Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
NIL | 14,078 (Performance Award) 14,078 (Restricted Stock Award) | ||||
e) | Aggregated information · Aggregated volume · Price |
28,156 NIL | |||
f) | Date of the transaction | 04 August 2023 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Janos Pal | |||
2. | Reason for the notification | ||||
a) | Position / status | Revenue 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 LTIP Award in the form of Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
NIL | 9,151 (Performance Award) 9,151 (Restricted Stock Award) | ||||
e) | Aggregated information · Aggregated volume · Price |
18,302
NIL | |||
f) | Date of the transaction | 04 August 2023 | |||
g) | Place of the transaction | N/A | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Boris Rogoff | |||
2. | Reason for the notification | ||||
a) | Position / status | Officer Wizz Air Central Operations | |||
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 LTIP Award in the form of Options | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
NIL | 8,522 (Performance Award) 8,522 (Restricted Stock Award) | ||||
e) | Aggregated information · Aggregated volume · Price |
17,044 NIL | |||
f) | Date of the transaction | 08 November 2023 | |||
g) | Place of the transaction | N/A | |||
50% of the LTIP Award is subject to performance conditions ("Performance Award"). The remaining 50% of the LTIP Award is not subject to performance conditions and will vest on the relevant vesting date(s) provided the PDMR remains in employment with the Company ("Restricted Stock Award").
100% of the Performance Award will vest subject to 14% average net profit margin of the Company over the next three-year period starting with the 2024 financial year of the Company. The threshold net profit margin level is 9% for which 25% of the award vests with straight line vesting in between these two points.
All vested Options must be exercised within ten years of the date of grant. If exercised, then the underlying shares in the Company will be issued or transferred 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 fastest growing European ultra-low-cost airline, operates a fleet of 198 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 60.3 million passengers in 2023. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named the World's Top 5 Safest Low-Cost Airlines 2024 by airlineratings.com, the world's only safety and product rating agency, and named Airline of the Year by Air Transport Awards in 2019 and in 2023. Wizz Air has also been recognised as the "Most Sustainable Low-Cost Airline" within the World Finance Sustainability Awards in 2021-2023 and the "Global Environmental Sustainability Airline Group of the Year" by the CAPA-Centre for Aviation Awards for Excellence 2022-2023.
For more information: | ||
Investors: | Zlatko Custovic, Wizz Air | +36 1 777 9407 |
Media: | Tamara Vallois, Wizz Air: | +36 1 777 9324 |
James McFarlane/ Eleni Menikou, MHP Group: | +44 (0) 20 3128 8100 | |