6 October 2022
Keywords Studios plc ("Keywords Studios", "the Company")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Exercise and Sale of Conditional Awards
Keywords Studios, the international technical services provider to the global video games industry, today announces the exercise of options over a total of 43,796 ordinary shares of 1 pence each in the Company (the 'Conditional Award') by Jon Hauck, Chief Financial Officer, and the sale of 31,346 ordinary shares, as detailed below.
The Conditional Award was granted to Mr Hauck when he joined Keywords in 2019, to compensate for the awards he forfeited on his departure from his prior employment. Vesting of the Conditional Award was subject to the achievement of performance conditions based on the Company's Total Shareholder Return ("TSR") versus the FTSE Small Cap Index over the 3-year performance period, and full vesting was achieved for exceeding the Index TSR by 20% over the performance period.
Mr Hauck exercised 43,796 options over ordinary shares and sold 31,346 of those ordinary shares, a significant number of which were to cover personal income tax and other liabilities arising from the exercise of the Conditional Award. Mr Hauck retained 12,450 ordinary shares (representing approximately 100% of his base salary) and these, together with his remaining 2019 LTIP awards which have also vested in full, but have not been exercised, provide the basis for the building of a long-term shareholding in line with the Company's Executive Director shareholding guidelines (200% of base salary).
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1 |
Details of the person discharging managerial responsibilities/person closely associated
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a) |
Name |
Jon Hauck
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2 |
Reason for the notification
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a) |
Position/status |
Chief Financial Officer
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b) |
Initial Notification/ Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Keywords Studios PLC
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b) |
LEI |
2138007VR9ZYCWS7VE12
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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 |
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a) |
Description of the financial instrument, type of instrument and identification code |
Ordinary shares of 1 pence each in Keywords Studios PLC (ISIN: GB00BBQ38507) |
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b) |
Nature of the transaction |
1. Exercise of shares under the Keywords Studios Long Term Incentive Plan. 2. Sale of shares to satisfy tax withholding obligations and an additional sale of shares.
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c) |
Price(s) and volume(s)
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d) |
Aggregated information - Aggregated volume - Price |
Aggregate volume of shares exercised: 43,796 Aggregate price of shares exercised: GBP 437.96 (Total value)
Aggregate volume of shares sold: 31,346 Aggregate price of shares sold: GBP 758,573.20 (Total value)
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e) |
Date of the transaction |
2022-10-05 (UTC)
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f) |
Place of the transaction |
London Stock Exchange, AIM (AIMX)
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ENDS