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Wizz Air Holdings - Long Term Incentive Plan Award Grants

RNS Number : 5134P
Wizz Air Holdings PLC
10 June 2020
 

Wizz Air Holdings Plc

Wizz Air Long Term Incentive Plan ("LTIP") award grants

 

Geneva, 10 June 2020 - Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the largest low-cost airline in Central and Eastern Europe, announces the granting of awards under its LTIP, to a number of persons discharging management responsibilities ("PDMRs").

 

On 4 June 2020, following approval by the Company's Remuneration Committee, Wizz Air made a grant of options under the LTIP over 198,079 ordinary shares in the capital of Wizz Air of £0.0001 par value (identification code JE00BN574F90) ("Awards") to PDMRs as set out below.

 

The following PDMRs were granted Awards of Performance Options:

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

József Váradi

2.        

Reason for the notification

a)

Position / status

Chief Executive 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

42,562

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

42,562

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Diederik Pen

2.        

Reason for the notification

a)

Position / status

Executive Vice President & Group Chief Operations 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

25,184

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

25,184

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Johan Eidhagen

2.        

Reason for the notification

a)

Position / status

Chief People 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

14,672

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

14,672

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Owain Jones

2.        

Reason for the notification

a)

Position / status

Managing Director WUK

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

12,227

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

12,227

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

George Michalopoulos

2.        

Reason for the notification

a)

Position / status

Chief Commercial 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

17,117

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

17,117

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Marion Geoffroy

2.        

Reason for the notification

a)

Position / status

Chief Corporate 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 Shares

c)

Currency

British Pounds

d)

Price(s) and volume(s)

 

Price(s)

Volume(s)

 

 

NIL

14,672

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

14,672

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Heiko Holm

2.        

Reason for the notification

a)

Position / status

Chief Operations 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 Shares

c)

Currency

British Pounds

d)

Price(s) and volume(s)

 

Price(s)

Volume(s)

 

 

NIL

17,117

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

17,117

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.        

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jourik Hooghe

2.        

Reason for the notification

a)

Position / status

EVP & 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 Shares

c)

Currency

British Pounds

d)

Price(s) and volume(s)

 

Price(s)

Volume(s)

 

 

NIL

25,184

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

25,184

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Joel Goldberg

2.

Reason for the notification

a)

Position / status

Chief Digital 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

14,672

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

14,672

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

András Sebők

2.

Reason for the notification

a)

Position / status

Chief Supply Chain 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

14,672

 

e)

Aggregated information

·    Aggregated volume

·    Price

 

14,672

NIL

f)

Date of the transaction

4 June 2020

g)

Place of the transaction

N/A

 

 

 

The performance condition applicable to the Performance Options as set by the Remuneration Committee is:

 

Total shareholder return ("TSR") relative to the TSR of certain selected European airlines. The base measure for TSR will be the average trading price of shares during the 30 days immediately before the reference date (30 May 2020), and the closing measure will be the average trading price of shares during the 30 days immediately before the third anniversary of the reference date. At vesting, pay-out is to be 25% of the award for TSR performance equal to median performance, with a 100% pay-out for performance equal to, or exceeding, upper quartile performance. Linear interpolation will apply for performance between the median and upper quartile.

 

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 largest low-cost airline in Central and Eastern Europe, operates a fleet of 122 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 million passengers in the last 12 months. 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.

 

 

For more information:

 

Investors:

Evelin Horvath, Wizz Air

+41 22 555 9863

 

 

 

Media:

Tamara Vallois, Wizz Air:

+36 1 777 9324

 

Edward Bridges / Jonathan Neilan, FTI Consulting LLP:

+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 [email protected] or visit www.rns.com.
 
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Quick facts: Wizz Air Holdings

Price: 3646

Market: AIM
Market Cap: £3.75 billion
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