Wizz Air Omnibus Plan award grants

Source: RNS
RNS Number : 5241J
Wizz Air Holdings PLC
13 December 2022
 

Wizz Air Holdings Plc

Wizz Air Omnibus Plan award grants

 

Geneva, 13 December 2022 - Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the fastest-growing European airline, announces the granting of awards under omnibus share plan ("Omnibus Plan"), including a Long-Term Incentive Plan ("LTIP") and a senior leadership growth plan ("SLGP"), to a person discharging management responsibilities ("PDMR") as set out below and based on the approval of the Remuneration Committee, as at 25 July 2022.

 

LTIP Awards of Performance Options:

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ian Ogden Malin

2.        

Reason for the notification

a)

Position / status

Executive Vice President & Group Chief Financial Officer

b)

Initial notification / amendment

Initial notification

3.        

Details of the issuer

a)

Name

Wizz Air Holdings Plc

b)

Legal entity identifier

213800COXGZCORLJZA85

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 £0.0001 each


Identification code

JE00BN574F90

b)

Nature of the transaction

Grant of Performance Options

c)

Currency

British Pounds

d)

Price(s) and volume(s)


Price(s)

Volume(s)



NIL

20,360


e)

Aggregated information

·    Aggregated volume

·    Price

 

20,360

NIL

f)

Date of the transaction

14 November 2022

g)

Place of the transaction

Budapest, Hungary

 

For the LTIP Awards, the performance share awards will be subject to conditions set out below:

 

(i)         90% of an award will vest subject to 15% CAGR in the Company's share price over the next three-year period. The threshold growth level is 7.5% CAGR for which 25% of the award vests with straight line vesting in between these two points. Base period for calculation is VWAP over 1H CY 2022 - tested against share price at end of period VWAP 1H CY 2025; and

 

(ii)        10% of an award will vest based on the achievement of ESG targets, the criteria for which will be people and environment both weighted at 5%. If the minimum threshold CAGR of 7.5% is not achieved no ESG portion will vest.

 

SLGP Awards of Performance Options:

 

5.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ian Ogden Malin

6.        

Reason for the notification

a)

Position / status

Executive Vice President & Group Chief Financial Officer

b)

Initial notification / amendment

Initial notification

7.        

Details of the issuer

a)

Name

Wizz Air Holdings Plc

b)

Legal entity identifier

213800COXGZCORLJZA85

8.        

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 £0.0001 each


Identification code

JE00BN574F90

b)

Nature of the transaction

Grant of Performance Options

c)

Currency

British Pounds

d)

Price(s) and volume(s)


Price(s)

Volume(s)



NIL

28,510


e)

Aggregated information

·    Aggregated volume

·    Price

28,510

f)

Date of the transaction

14 November 2022

g)

Place of the transaction

Budapest, Hungary

 

The SLGP Awards, which are one-off awards, will be subject to the following performance conditions:

 

(a)  100% of an award will vest subject to 20% CAGR in the Company's share price over a five-year period. The threshold growth level is 15% CAGR for which 0% of the award vests with straight line vesting in between these two points. Base period for calculation is VWAP over 1H CY 2021 - tested against share price at end of period VWAP 1H CY 2026; and

 

All vested options must be exercised within ten years of the date of grant. If exercised, then the underlying shares of the vested options will be issued at nil cost to the option holders. No amounts have been paid by the relevant PDMRs for the grant of these options.

 

 

-End-

 

 

ABOUT WIZZ AIR

Wizz Air, the fastest growing European ultra-low-cost airline and one of the most sustainable, operates a fleet of 175 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 40.0 million passengers in the financial year F20 ending 31 March, 2020 and 27.1 million passengers in the financial year F22 ending 31 March 2022. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service. Wizz Air is a recipient of CAPA's prestigious Global Environmental Sustainability Airline Group of the year award, 2022.

 

 

For more information:


Investors:

Zlatko Custovic, Wizz Air

+36 1 777 9407




Media:

Zsuzsa Trubek, Wizz Air

 

Edward Bridges / Jonathan Neilan, FTI Consulting LLP:

+36 70 652 4115

 

+44 20 3727 1017




 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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.
 
END
 
 
DSHBKNBQFBDKFBD