News

Grant of LTIP

Tagged in: RNS Announcements
The following share awards were granted 16 December 2020:
 
- 539,255 conditional nil cost share awards of 50p each to a total of nine employees under the STV Group plc Long-Term Incentive Plan (“LTIP”) which was approved by shareholders on 26 April 2018.
 
The awards were granted at a price of £2.85 per ordinary share (the closing share price on Tuesday 15 December 2020) and these nine employees included two executive directors as follows:-

Director

Shares awarded

Simon Pitts, Chief Executive Officer

147,095

Lindsay Dixon, Chief Financial Officer

 82,584


This award will vest in three years time subject to the continued employment of the participants and the satisfaction of the undernoted performance conditions and will be released following a further holding period of two years from the vesting date. 
Performance measure Calibration of targets Weighting Threshold vesting (25% of max) Maximum vesting (100% of maximum)
EPS Annualised growth in adjusted EPS from FY19 to FY22 50% 5% 9%
Non-broadcast op profit Operating profit for non-broadcast in FY22 30% £8.5m £12.5m
TSR Ranked position of the Company's shareholder return (TSR) against the constituents of the FTSE Small Cap Index (3 mth average) 20% Median Upper quartile
 
Further enquiries:
 
Jane E A Tames
Company Secretary
STV Group plc
Tel: 0141 300 3074