STV Group PLC Grant of LTIP (3818T)

TIDMSTVG

RNS Number : 3818T

STV Group PLC

24 March 2021

 
                               STV Group plc 
                            Director shareholding 
                                24 March 2021 
                          LEI: 21380075GOOTTBDNDJ58 
 The following share awards were granted today, 24 March 2021: 
 
              *    468,448 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 330 pence per ordinary 
  share (the closing share price on Tuesday 23 March 2021) and 
  these nine employees included two executive directors as follows:- 
 Director                                            Shares awarded 
 Simon Pitts, Chief Executive 
  Officer                                            127,036 
 Lindsay Dixon, Chief Financial 
  Officer                                            71,323 
 
 
 This award will vest in three years 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      Calibration of targets    Weighting    Threshold    Maximum vesting 
      measure                                               vesting 
                                                          (25% of max) 
                     Annualised growth in 
                    adjusted EPS from FY20 
       EPS                  to FY23              50%          4%              13% 
                  --------------------------  ---------  -------------  --------------- 
  Non-broadcast      Operating profit for        30%        GBP9.5m        GBP16.5m 
     operating       non-broadcast in FY23 
      profit 
                  --------------------------  ---------  -------------  --------------- 
       TSR          Ranked position of the       20%        Median      Upper quartile 
                     Company's shareholder 
                     return (TSR) against 
                   the FTSE Small Cap Index 
                       (3 month average) 
                  --------------------------  ---------  -------------  --------------- 
 
 Additionally, as previously disclosed, the final element of 
  the buy-out of remuneration forfeited at his previous employer 
  has been awarded to Simon Pitts. Mr Pitts was awarded 30,372 
  shares and has sold 14,608 shares to cover the tax and NIC liability 
  arising on this award. 
 Further enquiries: 
 
 Jane E A Tames, Company Secretary, STV Group plc [e-mail] 
 Kirstin Stevenson, Head of Communications, STV Group plc [e-mail] 
 
 
 

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March 24, 2021 11:30 ET (15:30 GMT)