Last checked at 27 Oct 2023 13:48
Wizz Air Holdings Plc
Wizz Air Omnibus Plan award grants
Geneva, 27 October 2023 - Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the fastest-growing European airline, announces the amendment of awards under the Omnibus Share Plan ("Omnibus Plan") to two persons discharging management responsibilities ("PDMRs").
On 21 September 2023, following approval by the Company's remuneration committee, Wizz Air made the following amendments to two awards granted on 8 July 2022 under the Omnibus Plan as Senior Leadership Growth Plan awards ("SLGP Awards"):
· Reducing the number of ordinary shares under each SLGP Award by 2,677 (which had been incorrectly granted due to a clerical error), meaning the total number of shares under award for each PDMR was 19,007; and
· A change in the vesting date from 40% vesting on 8 July 2027, 20% on 8 July in each of 2028, 2029 and 2030 to 40% vesting on 6 August 2028, 20% on 6 August in each of 2029, 2030 and 2031.
The following PDMRs were affected by the amendment of the SLGP Awards:
1.
| Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Roland Tischner | |||
2. | Reason for the notification | ||||
a) | Position / status | Officer Wizz Air Hungary Operations | |||
b) | Initial notification / amendment | Amendment | |||
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 | 19,007 | ||||
e) | Aggregated information · Aggregated volume · Price |
19,007 NIL | |||
f) | Date of the transaction | 8 July 2022 | |||
g) | Date of the amendment | 21 September 2023 | |||
h) | Place of the transaction | N/A | |||
1.
| Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Yvonne Moynihan | |||
2. | Reason for the notification | ||||
a) | Position / status | Corporate Officer | |||
b) | Initial notification / amendment | Amendment | |||
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 | 19,007 | ||||
e) | Aggregated information · Aggregated volume · Price |
19,007 NIL | |||
f) | Date of the transaction | 8 July 2022 | |||
g) | Date of the amendment | 21 September 2023 | |||
h) | Place of the transaction | N/A | |||
The SLGP Awards, which are one-off awards, will be subject to the following performance conditions:
100% of an SLGP Award will vest if the Company's share price is £119.34 (the "Share Price Target") at the end of the Performance Period[1]. The threshold for an SLGP Award to vest is a Company share price of£77.24 under which 0% of the SLGP Award vests with straight line vesting in between these two points. If prior to the end of the Performance Period, the Share Price Target is met or exceeded over any two consecutive quarters, based on the VWAP over that period, then, subject to the Omnibus Plan rues, the SLGP Award will vest in full on the normal vesting date.
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.
ABOUT WIZZ AIR Wizz Air, the fastest growing European ultra-low-cost airline, operates a fleet of 187 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 51.1 million passengers in the financial year F23 ending 31 March 2023. 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 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. - Ends -
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[1] "Performance Period" means the seven consecutive financial years of which the first is the financial year ending 31 March 2022.