Summit Therapeutics plc Summit Therapeutics Plc : Grant Of Share Options And Restricted Stock Units

 
TIDMSUMM 
 
 
   Summit Therapeutics plc 
 
   ('Summit' or the 'Company') 
 
 
   GRANT OF SHARE OPTIONS TO DIRECTORS, PDMRS AND EMPLOYEES AND GRANT OF 
RESTRICTED STOCK UNITS TO NON-EXECUTIVE DIRECTORS 
 
   Oxford, UK, 19 July 2017 - Summit Therapeutics plc (AIM: SUMM, NASDAQ: 
SMMT), the drug discovery and development company advancing therapies 
for Duchenne muscular dystrophy and Clostridium difficile infection, 
announces that the following options over new ordinary shares of 1 penny 
nominal value ('Ordinary Shares') were granted on 18 July 2017 to 
Directors, PDMRs and employees in line with the Company's Long Term 
Incentive Plan. The Company has also made a grant of restricted stock 
units ('RSUs') to to the Non-Executive Directors under the Company's 
2017 Remuneration Policy. Details of both grants are summarised below. 
 
   Grant of Share Options 
 
 
 
 
                                                                                Total 
                                                                     Options   Options 
Director/PDMR   Position                                             Awarded    Held 
Glyn Edwards    Chief Executive Officer                              135,478  2,795,534 
Erik Ostrowski  Chief Financial Officer                               68,062  1,118,062 
                Chief Operating Officer, Chief Medical Officer and 
David Roblin     President of R&D                                    164,384    631,208 
 
 
 
   These options have an exercise price of 182.5 pence per share and will 
vest in full on 18 July 2020 subject to achievement of performance 
conditions pertaining to corporate and programme development milestones. 
 
 
   Options over 541,746 Ordinary Shares were granted to other employees of 
the Company. These options have an exercise price of 182.5 pence per 
share. They will vest in nine equal tranches on a quarterly basis from 
18 July 2018 and will vest in full on 18 July 2020. 
 
   Award of Restricted Stock Units 
 
 
 
 
Director              Position                 RSU's Awarded  Total RSUs Held 
Frank Armstrong       Non-Exective Chairman           41,096           41,096 
Barry Price           Non-Executive Director          19,179           19,179 
Stephen Davies        Non-Executive Director          19,179           19,179 
Leopoldo Zambeletti   Non-Executive Director          19,179           19,179 
Valerie Andrews       Non-Executive Director          19,179           19,179 
Dave Wurzer           Non-Executive Director          19,179           19,179 
 
 
 
   In 2017, Summit adopted an RSU programme to replace the former practice 
of making annual awards of share options to the Non-Executive Directors. 
Each RSU entitles the holder to subscribe for an Ordinary Share at a 
subscription price of 1 penny per Ordinary Share. The RSUs have a 
vesting period of one year and no performance conditions. The RSU 
programme is part of the 2017 Remuneration Policy that was approved by 
shareholders at the 2017 annual general meeting. The RSUs granted will 
vest on 18 July 2018. 
 
   The notifications set out below are provided in accordance with the 
requirements of the EU Market Abuse Regulation. 
 
   About Summit Therapeutics 
 
   Summit is a biopharmaceutical company focused on the discovery, 
development and commercialisation of novel medicines for indications for 
which there are no existing or only inadequate therapies. Summit is 
conducting clinical programs focused on the genetic disease, Duchenne 
muscular dystrophy, and the infectious disease, Clostridium difficile 
infection. Further information is available at www.summitplc.com and 
Summit can be followed on Twitter (@summitplc). 
 
   For more information, please contact: 
 
 
 
 
Summit Therapeutics 
 Glyn Edwards / Richard Pye (UK office)         Tel: [phone] 
 Erik Ostrowski / Michelle Avery (US office)    [phone] 
Cairn Financial Advisers LLP 
 (Nominated Adviser)                            Tel: [phone] 
 Liam Murray / Tony Rawlinson 
N+1 Singer 
 (Broker)                                       Tel: [phone] 
 Aubrey Powell / Lauren Kettle 
MacDougall Biomedical Communications 
 (US media contact)                            Tel: [phone] 
 Karen Sharma                                  [e-mail] 
Consilium Strategic Communications 
 (Financial public relations, UK)              Tel: [phone] 
 Mary-Jane Elliott / Sue Stuart /              [e-mail] 
 Jessica Hodgson / Lindsey Neville 
 
 
 
 
   Notification of a Transaction pursuant to Article 19(1) of Regulation 
(EU) No. 596/2014 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Mr Glyn Edwards 
2    Reason for the notification 
a)   Position / status              Chief Executive Officer 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of share options 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 
   182.5 pence per share (exercise price)                                135,478 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Mr Erik Ostrowski 
2    Reason for the notification 
a)   Position / status              Chief Financial Officer 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of share options 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 
   182.5 pence per share (exercise price)                                 68,062 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Dr David Roblin 
2    Reason for the notification 
                                    Chief Operating Officer, Chief Medical Officer and 
a)   Position / status               President of Research and Development 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of share options 
c)   Price(s) and volume(s)          Price(s)                                Volume(s) 
   182.5 pence per share (exercise price)                                          164,384 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Dr Frank Armstrong 
2    Reason for the notification 
a)   Position / status              Non-Executive Chairman 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of restricted stock units 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 

   1 penny per share (subscription price)                                 41,096 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Dr Barry Price 
2    Reason for the notification 
a)   Position / status              Non-Executive Director 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of restricted stock units 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 
   1 penny per share (subscription price)                                 19,179 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Professor Stephen Davies 
2    Reason for the notification 
a)   Position / status              Non-Executive Director 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of restricted stock units 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 
   1 penny per share (subscription price)                                 19,179 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Mr Leopoldo Zambeletti 
2    Reason for the notification 
a)   Position / status              Non-Executive Director 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of restricted stock units 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 
   1 penny per share (subscription price)                                 19,179 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Ms Valerie Andrews 
2    Reason for the notification 
a)   Position / status              Non-Executive Director 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of restricted stock units 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 
   1 penny per share (subscription price)                                 19,179 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
a)   Name                           Mr Dave Wurzer 
2    Reason for the notification 
a)   Position / status              Non-Executive Director 
     Initial notification / 
b)   Amendment                      Initial notification 
     Details of the issuer, emission allowance market participant, 
3     auction platform, auctioneer or auction monitor 
a)   Name                           Summit Therapeutics plc 
b)   LEI                            213800NRW8AOMYMTBD89 
     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 
4     where transactions have been conducted 
     Description of the financial 
     instrument, type of 
a)   instrument                     Ordinary shares of 1 penny each 
 
     Identification code            GB00BN40HZ01 
b)   Nature of the transactions     Grant of restricted stock units 
c)   Price(s) and volume(s)          Price(s)                         Volume(s) 
   1 penny per share (subscription price)                                 19,179 
 
d)   Aggregated information 
 - Aggregated volume            N/A 
 - Price 
e)   Date of the transaction        18 July 2017 
f)   Place of the transaction       Outside a trading venue 
 
 
 
   -END- 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Summit Therapeutics plc via Globenewswire 
 
 
  http://www.summitplc.com/ 
 

(END) Dow Jones Newswires

July 19, 2017 09:10 ET (13:10 GMT)

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