13 May 2021
THE VITEC GROUP PLC
Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)
Deferred Bonus Plan - Vesting of 2018 Awards
The Vitec Group plc ("the Company") announces that the following transactions were undertaken by Directors and PDMRs in the ordinary shares of the Company on 13 May 2021 in connection with the maturity of the 2018 Deferred Bonus Plan ("DBP"). In summary, for the 2018 DBP, each Director or PDMR deferred a proportion of their 2017 annual cash bonus into the DBP. The deferred bonus was used to purchase shares in the Company at a price of £12.05 per share ("DBP award shares") that were held in the Employee Trust for a three-year deferral period. No performance conditions are attached to the DBP award shares and dividends paid during the deferral period on the DBP award shares have been automatically reinvested in additional dividend shares. There are no matching award shares that can be earned on the DBP award shares.
Stephen Bird, Group Chief Executive
| Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
| Transfer of DBP award shares (including associated dividend shares) | 13 May 2021 | 11,397 (of which 10,704 were DBP award shares) | 11,397 | £12.90 |
Martin Green, Group Finance Director
| Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
| Transfer of DBP award shares (including associated dividend shares) | 13 May 2021 | 6,723 (of which 6,314 were DBP award shares) | 6,723 | £12.90 |
Marco Pezzana, PDMR
| Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
| Transfer of DBP award shares (including associated dividend shares) | 13 May 2021 | 4,143 (of which 3,891 were DBP award shares) | 4,143 | £12.90 |
Jon Bolton, PDMR
| Transaction | Date of transfer | Total shares vested including dividend shares | Number of shares retained
| Price per share at which associated dividend shares were acquired |
| Transfer of DBP award shares (including associated dividend shares) | 13 May 2021 | 1,401 (of which 1,316 were DBP award shares) | 1,401 | £12.90 |
Deferred Bonus Plan (DBP) - 2021 Awards
The Vitec Group plc ("the Company") announces that awards under the Deferred Bonus Plan ("DBP") have been made on 13 May 2021 following purchases of ordinary shares of 20 pence each by the following Executive Directors and PDMRs following the deferral of the 2020 bonus. The shares were purchased at an average price of £13.943103 and will be held by Apex Fund Services in a nominee capacity on behalf of the Executive Directors and PDMRs.
The shares purchased will be held for three years until vesting under the normal operation of the DBP.
There are no performance conditions or matching shares associated with the DBP.
| Name | Position | Number of shares purchased for 2021 DBP Award | Percentage of 2020 annual bonus deferred | Current shareholding following 2018 DBP vesting and 2021 DBP award*
| % of 2021 salary held for Executive Directors*** |
| Stephen Bird | Group Chief Executive | 2,537 | 50% | 196,187 (16,928)** | 568% |
| Martin Green | Group Finance Director | 1,897 | 50% | 114,411 (10,730) | 443% |
| Marco Pezzana | PDMR | 1,034 | 30% | See below | - |
| Jon Bolton | PDMR | 331 | 20% | 43,875 (2,120) | - |
* The number in brackets refers to the number of ordinary shares purchased in the market with funds provided by the Executive Director or PDMR and which are held by Apex Fund Services, the Trustee used to hold shares in respect of awards made under The Vitec Group 2014 Deferred Bonus Plan.
** Stephen Bird's current shareholding also reflects 2,000 shares held through a connected person.
*** Based on closing mid-market price on 12 May 2021.
Exercise of options under Sharesave Scheme
The Vitec Group plc ("the Company") announces that on 12 May 2021 the following option was exercised and settled by a PDMR under The Vitec Group's 2011 International Sharesave Scheme.
| Name | Position | Number of options exercised and shares retained | Option price (per share) | Resultant holding of the Company's shares following exercise of Sharesave options, 2018 DBP vesting and 2021 DBP award |
| Marco Pezzana | PDMR | 447 | £7.84 | 92,743 ordinary shares made up of personal holdings of 86,390 shares and 6,353 shares held under the DBP by the Employee Trustee, Link Asset Services
|
Enquiries:
Jon Bolton
Group Company Secretary
020 8332 4600
A snapshot of The Vitec Group plc
Vitec is a leading global provider of premium branded hardware products and software solutions to the growing content creation market.
Vitec's customers include broadcasters, film studios, production and rental companies, photographers, independent content creators and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, bags and motion control, audio capture and noise reduction equipment.
We employ around 1,700 people across the world in 11 different countries and are organised in three Divisions: Imaging Solutions, Production Solutions and Creative Solutions.
The Vitec Group plc is listed on the London Stock Exchange.
More information can be found at: www.vitecgroup.com
LEI number: 2138007H5DQ4X8YOCF14
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
