FD Technologies PLC LTIP Award (3867V)

TIDMFDP

RNS Number : 3867V

FD Technologies PLC

05 April 2023

5 April 2023

FD Technologies plc

("FD Technologies", or the "Group")

LTIP awards

FD Technologies (AIM: FDP.L, Euronext Growth: FDP.I) announces the grant of performance share units ("PSUs") under a Long Term Incentive Plan ("LTIP") designed to recruit and retain the Group's senior leaders, on whose efforts and talents the Group is reliant to build substantial shareholder value over the next three years and beyond.

The LTIP arrangements and the 2023 LTIP grant have been determined by the Remuneration and Talent Committee composed entirely of independent Non-Executive Directors and advised by independent remuneration consultants, Insightory.

PSUs will vest on the achievement of challenging three year performance metrics relevant to each particular business unit. For example, for PSUs in this grant, 100% pay out related to KX performance is based on annual recurring revenue (ARR) in FY26 of more than GBP200m. All PSU awards are subject to a three-year cliff vesting period from the date of award, with a two-year holding period for Executive Directors. The LTIP arrangements are also subject to typical malus and clawback provisions.

The Remuneration and Talent Committee of the Board approved the 2023 grants to the Executive Directors on 5 April 2023 as follows:

 
 PDMR              Position     PSUs 
 Seamus Keating       CEO      143,514 
                  ----------  -------- 
 Ryan Preston         CFO      38,270 
                  ----------  -------- 
 Total                         181,784 
                              -------- 
 

The PSUs for the CEO and CFO will vest on the achievement of performance metrics linked to the performance of the Group's business units over the three years to 28 February 2026, which metrics are designed to be challenging and to reward value creation.

The PSUs for the CFO and two thirds of the PSUs for the CEO will vest based on:

 
                                                 Threshold                      Maximum 
                    Metric         Weighting    25% vesting    50% vesting    100% vesting 
                   -------------  ----------  --------------  ------------  --------------- 
 KX                 Combined          65%      88% of target     Target      125% of target 
                     ARR growth 
                     and EBITDA* 
                   -------------  ----------  --------------  ------------  --------------- 
 First Derivative   EBITDA            25%      84% of target     Target      115% of target 
                   -------------  ----------  --------------  ------------  --------------- 
 MRP                EBITDA            10%      83% of target     Target      117% of target 
                   -------------  ----------  --------------  ------------  --------------- 
 

*KX ARR and EBITDA (excluding capitalised development costs) metrics are linked to eliminate the impact of any investment decisions taken during the period, such that overperformance in one metric will reduce the target in the other

The remaining third of the PSUs for the CEO will vest based on Total Shareholder Return (TSR) over the three year period with vesting starting at 25% for 25% TSR appreciation and increasing on a straight line basis up to a maximum of 100%.

In addition to the award to Directors, a total of 109,672 PSUs have been awarded to other senior leaders in the business units and in the Group's central operations again subject to three-year cliff vesting and performance metrics relevant to their part of the Group. A total of 58,186 Restricted Stock Units ("RSUs") typically vesting annually over the next three years have also been awarded to senior employees. Based on a share price of GBP17.42, these awards amount to, in aggregate, 349,642 shares (on the assumption that all vest), representing 1.34 per cent of the Group's currently issued and outstanding shares.

Further information regarding the LTIP arrangements and the Group's remuneration framework will be provided in the Group's annual report for the year ended 28 February 2023.

Enquiries

For further information please contact:

 
FD Technologies plc                         [phone] 
 Seamus Keating, Chief Executive Officer     www.fdtechnologies.com 
 Ryan Preston, Chief Financial Officer 
 Ian Mitchell, Head of Investor Relations 
 
Investec Bank plc (Nominated Adviser 
 and Broker) 
 Carlton Nelson 
 Virginia Bull                              [phone] 
 
Goodbody (Euronext Growth Adviser 
 and Broker) 
 David Kearney 
 Don Harrington 
 Nick Donovan                               [phone] 
 
J.P. Morgan Cazenove (Broker) 
 James A. Kelly 
 Mose Adigun                                [phone] 
 
 

About FD Technologies

FD Technologies is a group of data-driven businesses that unlock the value of insight, hindsight and foresight to drive organisations forward. The Group comprises KX, the leading technology for real-time continuous intelligence; First Derivative, which provides technology-led services in capital markets; and MRP, the only enterprise-class, predictive Accounts Based Marketing solution. FD Technologies operates from 14 locations across Europe, North America and Asia Pacific, and employs more than 3,100 people worldwide.

For further information, please visit www.fdtechnologies.com and www.kx.com

 
 1.   Details of PDMR / person closely associated with them 
       ("PCA ") 
 a)   Name                           Seamus Keating 
     -----------------------------  ------------------------------------ 
 2.   Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Positio n / status              CEO 
     -----------------------------  ------------------------------------ 
 b)   Initial notification           Initial Notification 
       / amendment 
     -----------------------------  ------------------------------------ 
 3.   Details of the Issuer 
     ------------------------------------------------------------------- 
 a)   Name                           FD Technologies plc 
     -----------------------------  ------------------------------------ 
 b)   LEI                            213800MKQAJ5R7WIU633 
     -----------------------------  ------------------------------------ 
 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             Ordinary Shares of GBP0.005 
       financial instrument,          ISIN: GB0031477770 
       t ype of instrument 
     -----------------------------  ------------------------------------ 
 b)   Nature of the transaction      Grant of Performance Share Units 
     -----------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)           Price(s)          Volume(s) 
                                                   Nil     143,514 
                                                         ---------- 
     -----------------------------  ------------------------------------ 
 d)   Aggregated information         N/a - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------ 
 e)   Date of the transaction        5(th) April 2023 
     -----------------------------  ------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------ 
 
 
 1.   Details of PDMR / person closely associated with them 
       ("PCA ") 
 a)   Name                           Ryan Preston 
     -----------------------------  ------------------------------------ 
 2.   Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Positio n / status              CFO 
     -----------------------------  ------------------------------------ 
 b)   Initial notification           Initial Notification 
       / amendment 
     -----------------------------  ------------------------------------ 
 3.   Details of the Issuer 
     ------------------------------------------------------------------- 
 a)   Name                           FD Technologies plc 
     -----------------------------  ------------------------------------ 
 b)   LEI                            213800MKQAJ5R7WIU633 
     -----------------------------  ------------------------------------ 
 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             Ordinary Shares of GBP0.005 
       financial instrument,          ISIN: GB0031477770 
       t ype of instrument 
     -----------------------------  ------------------------------------ 
 b)   Nature of the transaction      Grant of Performance Share Units 
     -----------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)           Price(s)          Volume(s) 
                                                   Nil     38,270 
                                                         ---------- 
     -----------------------------  ------------------------------------ 
 d)   Aggregated information         N/a - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------ 
 e)   Date of the transaction        5(th) April 2023 
     -----------------------------  ------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------ 
 

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April 05, 2023 02:00 ET (06:00 GMT)