Grant of Share Options to PDMRs
Focusrite plc
("the Company" or "the Group")
Directors' Dealings
Grant of Share Options to PDMRs
Focusrite plc (AIM:TUNE), the global music and audio products company, announces that on 4 December 2024 it granted nominal cost option awards over ordinary shares of 0.1p each in the capital of the Company under the Company's Performance Share Plan to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs") as listed below.
PDMR | No. of shares under 'performance share award' | No. of shares under 'restricted share award' |
Tim Carroll | 113,428 | 56,714 |
Sally McKone | 80,719 | 40,359 |
The performance share awards will ordinarily vest in April 2028 subject to the Remuneration Committee's determination of the extent to which the performance condition applicable to the performance share awards has been satisfied and to the individual's ongoing employment with the Company's group.
The performance condition for the performance share awards is based on the Company's adjusted earnings per share growth over the period from 1 September 2024 to 29 February 2028.
The restricted share awards will ordinarily vest in April 2028, subject to the individual's ongoing employment with the Company's group and the Remuneration Committee's assessment of such awards' discretionary performance underpin.
Fuller details of the performance condition and underpin condition shall be set out in the Company's Directors' Remuneration Report for the financial period ending 28 February 2026.
Once vested, options shall remain exercisable until the tenth anniversary of the grant date (or in the case of US taxed grantees, until 10 March following the year of vesting).
The information set out below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
1 | Details of the persons discharging managerial responsibilities I person closely associated | |||||
a) | Name | Tim Carroll | ||||
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 | Focusrite plc | ||||
b) | LEI | 213800JJ51KA4LOTF736 | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each placewhere transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.1p each in Focusrite plc | ||||
Identification code | GB00BSBMW716 | |||||
b) | Nature of the transaction | 1. Grant of a nominal cost option 'performance share award' under the Focusrite plc Performance Share Plan. 2. Grant of a nominal cost option 'restricted share award' under the Focusrite plc Performance Share Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
170,142 £0.001 | ||||
e) | Date of the transaction | 4 December 2024 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the persons discharging managerial responsibilities I person closely associated | |||||
a) | Name | Sally McKone | ||||
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 | Focusrite plc | ||||
b) | LEI | 213800JJ51KA4LOTF736 | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each placewhere transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.1p each in Focusrite plc | ||||
Identification code | GB00BSBMW716 | |||||
b) | Nature of the transaction | 1. Grant of a nominal cost option 'performance share award' under the Focusrite plc Performance Share Plan. 2. Grant of a nominal cost option 'restricted share award' under the Focusrite plc Performance Share Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | 121,078 £0.001 | ||||
e) | Date of the transaction | 4 December 2024 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
-ends-
Enquiries:
Focusrite plc | +44 (0) 1494 462246 |
Tim Carroll (CEO) / Sally McKone (CFO) |
|
Investec Bank plc (Nominated Adviser and Joint Broker) | +44 (0) 20 7597 5970 |
David Flin / Nick Prowting |
|
Peel Hunt LLP (Joint Broker) | +44 (0) 20 7418 8900 |
Ben Cryer / Adam Telling |
|
Rosewood (Financial PR) | +44 (0) 20 7653 8702 |
John West / Llewellyn Angus / Lily Pearce |
|
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The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Notes to Editors
Focusrite plc is a global audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and musicians, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under thirteen established brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal Audio, Linea Research Sequential, Oberheim, Sonnox, OutBoard and TiMax.
With a high-quality reputation and a rich heritage spanning decades, its brands are category leaders in the music-making and audio recording industries. Focusrite and Focusrite Pro offer audio interfaces and other products for recording musicians, producers and professional audio facilities. Novation and Ampify products are used in the creation of electronic music, from synthesizers and grooveboxes to industry-shaping controllers and inspirational music-making apps. ADAM Audio studio monitors have earned a worldwide reputation based on technological innovation in the field of studio loudspeaker technology. Martin Audio designs and manufactures performance-ready systems across the spectrum of sound reinforcement applications. Linea designs, develops, manufactures and sells market innovative professional audio equipment globally. Sequential designs and manufactures high end analogue synthesizers under the Sequential and Oberheim brands. Sonnox is a leading designer of innovative, high-quality, award-winning audio processing software plug-ins for professional audio engineers. TiMax specialises in innovative immersive audio and show control technologies. OutBoard manufactures and sells industry standard rigging control products for live events, together with enterprise-level safety test, preparation and quality management for global rental companies and venues.
The Company has offices in four continents and a global customer base with a distribution network covering approximately 240 territories.
Focusrite plc is traded on the AIM market, London Stock Exchange.
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