30 Apr 2015 07:20
T.CLARKE PLC EQUITY INCENTIVE PLAN - CONDITIONAL GRANT OF SHARES
On 29th April 2015, directors of the Company were granted conditional share awards over ordinary shares of 10p each in the capital of the Company ('shares') under the T.Clarke plc Equity Incentive Plan ('the Plan').
Details of the directors and the number of conditional share awards granted to them under the Plan are as follows:
Director | Number of conditional shares awarded |
Mark Lawrence | 90,000 |
Mike Crowder | 90,000 |
Martin Walton | 90,000 |
Danny Robson | 90,000 |
No consideration was paid for the grant of the conditional share awards. The conditional share awards will normally vest on 29th April 2018, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the earnings per share performance condition as set out below.
Annual growth in EPS above RPI* | Proportion of award vesting |
Less than 3% | Nil |
3% | 25% |
Between 3% and 10% | Between 25% and 100% on a straight line basis |
Above 10% | 100% |
* Based on average underlying EPS for the three years ended 31 December 2014
The following conditional share awards and options granted on 1 May 2012 ('the 2012 awards') have lapsed as the minimum performance conditions were not met:
Director | Number of conditional shares lapsed | Number of options lapsed |
Mark Lawrence | 115,000 | 59,000 |
Mike Crowder | 115,000 | 59,000 |
Martin Walton | 115,000 | 59,000 |
Following the grant of the conditional share awards and the lapse of the 2012 awards these directors hold the following interests in the issued share capital of the Company.
Director | Beneficial interest in the shares of the Company | % of the issued share capital of the Company | Total number of conditional share awards held | Total number of options |
Mark Lawrence | 26,750 | 0.06% | 290,000 | 73,523 |
Mike Crowder | 18,750 | 0.04% | 290,000 | 73,523 |
Martin Walton | 16,750 | 0.04% | 290,000 | 73,523 |
Danny Robson | 1,451,906 | 3.47% | 90,000 | - |
For further information contact:
TClarke plc | |
Mark Lawrence | Martin Walton |
Group Chief Executive | Finance Director |
Tel: 020 7997 7400 | Tel: 020 7997 7400 |
www.tclarke.co.uk | |
N+1 Singer (Financial Adviser and Broker) | Broker Profile |
Sandy Fraser | Simon Courtenay |
Tel: 020 7496 3000 | Tel: 020 7448 3244 |
www.n1singer.com | www.broker-profile.com |
Tclarke (CTO)