Company Announcements

Grant of options

Source: RNS
RNS Number : 3246R
Insig AI Plc
06 June 2024
 

6 June 2024

Insig AI plc

("Insig AI" or the "Company")

 

Grant of Share Options

 

Insig AI plc (AIM: INSG), the data science and machine learning group, announces the grant of share options over 7,800,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to certain Directors and employees with an expiry date of 5 June 2029 (the "Options").

 

The Options vest equally over a three-year period, on the first, second and third anniversary of the date of grant and are subject to certain vesting criteria, namely:

 

-     Revenue exceeding £2.0m for a preceding 12 month rolling period (50% of the award); and

-     Revenue exceeding £3.0m for a preceding 12 month rolling period (50% of the award)

 

Schedule of Options:

 

 

Position

Date of grant

No. Options granted

Exercise price

Expiry date

Richard Bernstein

CEO

6 June 2024

2,000,000

2,000,000

20p

30p

5 June 2029

5 June 2029

Steven Cracknell

Chief Product Officer

6 June 2024

1,000,000

20p

5 June 2029

Warren Pearson

PDMR

6 June 2024

1,000,000

20p

5 June 2029

Employees (various)

N/A

6 June 2024

1,800,000

20p

5 June 2029

 

Following the grant of the Options, the Company now has a total of 8,375,000 share options in issue, which represents 7.1% of the current issued share capital.

 

For further information, please visit www.insg.ai or contact:

 

Insig AI plc                                                                                        richard.bernstein@insg.ai

Richard Bernstein (CEO)          

  

Zeus (Nominated Adviser & Broker)

David Foreman / James Hornigold                                                         +44 (0)20 3829 5000

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name 

 

Richard Bernstein

 

2

 

Reason for the notification

 

a)

 

Position/status

  

CEO

b)

 

Initial notification /Amendment 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

  

Insig AI plc

b)

 

LEI

  

21380098CKBAG1NWCD98

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, type of instrument

Ordinary Shares of 1 pence each



Identification code

GB00BYV31355



b)

 

Nature of the transaction

  

Grant of options

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




20 pence

30 pence

2,000,000

2,000,000







d)

 

Aggregated information

N/A single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

  

6 June 2024

f)

 

Place of the transaction 

 

London Stock Exchange

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name 

 

Steven Cracknell

2

 

Reason for the notification

 

a)

 

Position/status

  

Chief Product Officer

b)

 

Initial notification /Amendment 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

  

Insig AI plc

b)

 

LEI

  

21380098CKBAG1NWCD98

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, type of instrument

Ordinary Shares of 1 pence each



Identification code

GB00BYV31355



b)

 

Nature of the transaction

  

Grant of options

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




20 pence

1,000,000

 







d)

 

Aggregated information

N/A single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

  

6 June 2024

f)

 

Place of the transaction 

 

London Stock Exchange

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name 

 

Warren Pearson

2

 

Reason for the notification

 

a)

 

Position/status

  

PDMR

b)

 

Initial notification /Amendment 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

  

Insig AI plc

b)

 

LEI

  

21380098CKBAG1NWCD98

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, type of instrument

Ordinary Shares of 1 pence each



Identification code

GB00BYV31355



b)

 

Nature of the transaction

  

Grant of options

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




20 pence

1,000,000

 







d)

 

Aggregated information

N/A single transaction



- Aggregated volume




- Price




e)

 

Date of the transaction

  

6 June 2024

f)

 

Place of the transaction 

 

London Stock Exchange

 

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