Grant of options
London, UK - 03 May 2022: Oxford Biomedica plc ("Oxford Biomedica" or "the Company") (LSE: OXB) announces that on 29 April 2022 nil-cost share options over ordinary shares of 50 pence each in the Company were granted under the Oxford Biomedica 2015 Deferred Bonus Plan ("DBP") and the Oxford Biomedica 2015 Long Term Incentive Plan ("LTIP").
2022 LTIP and 2021 DBP Awards
| Name of individual | Title | Number of shares subject to the 2021 DBP award | Number of shares subject to the 2022 LTIP award | Total shares over which options now held | Percentage of current issued share capital under option |
| John Dawson | Chief Executive Officer until 28 January 2022 | 52,118 | - | 827,669 | 0.9% |
| Stuart Paynter | Chief Financial Officer | 35,171 | 96,100 | 347,623 | 0.4% |
| Dave Backer | Chief Commercial Officer | 5,082 1 | 47,197 | 69,213 | 0.07% |
| Tim Kelly | Chief Executive Officer of OXB Solutions | - | 38,528 | 191,305 | 0.2% |
| Lisa James | Chief People Officer | - | 26,376 | 44,432 | 0.05% |
| James Miskin | Chief Technical Officer | 16,168 | 38,135 | 181,357 | 0.2% |
| Kyriacos Mitrophanous | Chief Scientific Officer | 16,321 | 38,501 | 198,510 | 0.2% |
| Nicholas Page | Chief Operations Officer | 17,381 | 40,261 | 157,464 | 0.2% |
| Madduri Ravi Rao | Chief Medical Officer | - | 28,318 | 60,136 2 | 0.06% |
| Jason Slingsby | Chief Business Officer | 15,458 | 36,466 | 129,188 | 0.1% |
| Matthew Treagus | Chief Information Officer | 5,314 | 38,501 | 56,412 | 0.06% |
| Natalie Walter | General Counsel | 14,008 | 32,268 | 102,858 | 0.1% |
| Alex Lewis | Chief of Staff | - | 9,423 3 | 78,650 | 0.08% |
1 Dave Backer's DBP award were granted under the 2015 LTIP scheme as opposed to the 2015 Deferred Bonus Plan (DBP) due to US tax considerations and California regulatory considerations.
2 Dr. Madduri Rao's RSU joining options (see below) are included in this figure.
Under the terms of the DBP plan, the DBP awards will become exercisable as to one third of the shares subject to each award on each of the first three anniversaries of the grant date.
In line with best practice and current investor guidance the quantum of the 2022 LTIP to Stuart Paynter was scaled back from 175% of salary to 155% of salary. The quantum of 2022 LTIP granted to other members of SET was scaled back in line with Stuart Paynter's scale back percentage.
John Dawson did not received an award under the LTIP scheme for 2022.
The LTIP awards are subject to performance conditions. As set out in the 2021 Directors' Remuneration Report, the performance condition is based on TSR (40% of the award, assessed over the three years from grant); revenue growth (40% of the award, assessed over financial years 2022, 2023 and 2024) and strategic milestones (20% of the award). Details of the measures are included in the 2021 Directors' Remuneration Report, other than as regards the strategic milestones, which are commercially sensitive and will be disclosed in due course.
The LTIP awards granted Stuart Paynter will "vest" following the assessment of the performance condition, but will only be "released" so that they can be exercised following the end of a further two year holding period. The 2022 awards granted to other participants will vest and be released following the assessment of the performance condition.
RSU awards
3 In addition, on 29 April 2022 a nil-cost share option over 9,423 shares of 50 pence each in the Company was also granted under the LTIP scheme to Alexander Lewis, Chief of Staff.
As joining shares, a nil-cost share option over 31,818 shares of 50 pence each in the Company was also granted under the LTIP scheme to Dr Madduri Rao.
The RSU awards are not subject to performance conditions and will become exercisable from the third anniversary of the grant date.
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of Dealing Form
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | John Dawson | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Executive Officer
| ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 52,118 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Stuart Paynter | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Financial Officer
| ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 131,271 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Dave Backer | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Commercial Officer | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 52,279 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Tim Kelly | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Executive Officer of OXB Solutions | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 38,528 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Lisa James | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief People Officer | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 26,376 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | James Miskin | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Technical Officer | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 54,303 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Kyriacos Mitrophanous | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Scientific Officer | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 54,822 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Nicholas Page | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Operations Officer | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 57,642 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||||||
| a) | Name | Madduri Rao | ||||||||||||
| 2. | Reason for the notification | |||||||||||||
| a) | Position/status | Chief Medical Officer | ||||||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||||||
| 3. | Details of the Issuer | |||||||||||||
| a) | Name | Oxford Biomedica plc | ||||||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
2022 RSU Award
| ||||||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 60,136 shares in total
N/A
| ||||||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Jason Slingsby | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Business Officer | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 51,924 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Matthew Treagus | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | Chief Information Officer | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 43,815 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
| a) | Name | Natalie Walter | ||||||||
| 2. | Reason for the notification | |||||||||
| a) | Position/status | General Counsel | ||||||||
| b) | Initial notification/ amendment | Initial Notification | ||||||||
| 3. | Details of the Issuer | |||||||||
| a) | Name | Oxford Biomedica plc | ||||||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards. | ||||||||
| c) | Price(s) and volumes(s) | 2022 LTIP Award
2021 DBP Award
| ||||||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 46,276 shares in total
N/A
| ||||||||
| e) | Date of the transaction | 2022-04-29 | ||||||||
| f) | Place of the transaction | Outside of trading venue | ||||||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Alexander Lewis | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chief of Staff | ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of award over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2022 RSU Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
9,243
N/A
| ||||
| e) | Date of the transaction | 2022-04-29 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
-Ends-
| For further information, please contact: |
|
|
Oxford Biomedica plc: Natalie Walter, Company Secretary |
Tel: +44 (0)1865 783 000 |
About Oxford Biomedica
Oxford Biomedica (LSE:OXB) is an innovative leading viral vector specialist focused on delivering life changing therapies to patients.
Oxford Biomedica plc and its subsidiaries (the Group) work across key viral vector delivery systems including those based on lentivirus, adeno-associated virus (AAV) and adenovirus, providing innovative solutions to cell and gene therapy biotechnology and biopharma companies for their process development, analytical development and manufacturing needs. Oxford Biomedica has built a sector leading lentiviral vector delivery system, LentiVector® platform, which the Group leverages to develop product candidates in-house, before seeking partners to take the products into clinical trials.
Oxford Biomedica is based across several locations and headquartered in Oxfordshire, UK. In early 2022, the Group established Oxford Biomedica Solutions, a new US based subsidiary AAV manufacturing and innovation business, based near Boston, US.
Oxford Biomedica employs more than 940 people. Further information is available at www.oxb.com
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