Frontier Developments PLC Share Options and Director/PDMR Dealings

RNS Number : 2699I

Frontier Developments PLC

15 October 2024

 

15 October 2024

Frontier Developments plc

Share Options and Director/PDMR Dealings

Frontier Developments plc (AIM: FDEV, 'Frontier' or the 'Company'), a leading developer and publisher of video games based in Cambridge, UK, confirms the vesting outcomes for LTIP (Long Term Incentive Plan) share options over Ordinary Shares of 0.5p each in the Company ('Ordinary Shares') which were awarded to Executive Directors on 15 October 2021 (the 'Share Options').

The Share Options were awarded with a three-year vesting period and they included performance conditions with an element based on share price growth over that period. As a result of the decline in the Company's share price during the vesting period, the performance conditions for the Share Options were not met, resulting in lapses.

The number of Share Options lapsing on 15 October 2024 for each Executive Director is set out below, along with the total number of share options held under all schemes by each Executive Director after the lapses.

Name of Director	Position	Number of LTIP Share Options lapsing on 15 October 2024	Total number of share options held under all schemes following the lapses on 15 October 2024
Jonathan Watts	Chief Executive Officer	10,510	176,502
David Braben	President & Founder	10,910	83,374
Alex Bevis	Chief Financial Officer	10,510	162,320
James Dixon	Chief Operating Officer	1,682	42,627

 

Enquiries:

 

Frontier Developments   [phone]

Jonny Watts, CEO

Alex Bevis, CFO 

 

Peel Hunt - Nomad and Joint Corporate Broker   [phone]

Neil Patel / Ben Cryer / Kate Bannatyne

 

Panmure Liberum - Joint Corporate Broker   [phone]

Max Jones / Matt Hogg / Nikhil Varghese

      

Teneo   [phone]

Matt Low / Arthur Rogers

 

About Frontier Developments plc

Frontier is a leading independent developer and publisher of video games founded in 1994 by David Braben, co-author of the iconic Elite game. Based in Cambridge, Frontier uses its proprietary COBRA game development technology to create innovative genre-leading games, primarily for personal computers and video game consoles.

Frontier's LEI number: 213800B9LGPWUAZ9GX18.

www.frontier.co.uk

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS  

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: David Braben
2.	Reason for the notification
a)	Position/status: President and Founder
b)	Initial notification/Amendment: Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name: Frontier Developments plc
b)	LEI: 213800B9LGPWUAZ9GX18
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 0.5p each. Identification code: GB00BBT32N39
b)	Lapse of Options awarded under the Company's LTIP
c)	Price(s) and volume(s): Price(s) Volume(s) 0.5p 10,910
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2024
f)	Place of the transaction: Outside a trading venue
1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: Jonathan Watts
2.	Reason for the notification
a)	Position/status: Chief Executive Officer
b)	Initial notification/Amendment: Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name: Frontier Developments plc
b)	LEI: 213800B9LGPWUAZ9GX18
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 0.5p each. Identification code: GB00BBT32N39
b)	Lapse of Options awarded under the Company's LTIP
c)	Price(s) and volume(s): Price(s) Volume(s) 0.5p 10,510
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2024
f)	Place of the transaction: Outside a trading venue

  

 

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: Alexander Bevis
2.	Reason for the notification
a)	Position/status: Chief Financial Officer
b)	Initial notification/Amendment: Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name: Frontier Developments plc
b)	LEI: 213800B9LGPWUAZ9GX18
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 0.5p each. Identification code: GB00BBT32N39
b)	Lapse of Options awarded under the Company's LTIP
c)	Price(s) and volume(s): Price(s) Volume(s) 0.5p 10,510
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2024
f)	Place of the transaction: Outside a trading venue

 

 

  

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name: James Dixon
2.	Reason for the notification
a)	Position/status: Chief Operating Officer
b)	Initial notification/Amendment: Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name: Frontier Developments plc
b)	LEI: 213800B9LGPWUAZ9GX18
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 0.5p each. Identification code: GB00BBT32N39
b)	Lapse of Options awarded under the Company's LTIP
c)	Price(s) and volume(s): Price(s) Volume(s) 0.5p 1,682
d)	Aggregated information: N/A - Single transaction
e)	Date of the transaction:  15 October 2024
f)	Place of the transaction: Outside a trading venue

 

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