FD Technologies PLC LTIP Award (3867V)
05 Avril 2023 - 8:00AM
UK Regulatory
TIDMFDP
RNS Number : 3867V
FD Technologies PLC
05 April 2023
5 April 2023
FD Technologies plc
("FD Technologies", or the "Group")
LTIP awards
FD Technologies (AIM: FDP.L, Euronext Growth: FDP.I) announces
the grant of performance share units ("PSUs") under a Long Term
Incentive Plan ("LTIP") designed to recruit and retain the Group's
senior leaders, on whose efforts and talents the Group is reliant
to build substantial shareholder value over the next three years
and beyond.
The LTIP arrangements and the 2023 LTIP grant have been
determined by the Remuneration and Talent Committee composed
entirely of independent Non-Executive Directors and advised by
independent remuneration consultants, Insightory.
PSUs will vest on the achievement of challenging three year
performance metrics relevant to each particular business unit. For
example, for PSUs in this grant, 100% pay out related to KX
performance is based on annual recurring revenue (ARR) in FY26 of
more than GBP200m. All PSU awards are subject to a three-year cliff
vesting period from the date of award, with a two-year holding
period for Executive Directors. The LTIP arrangements are also
subject to typical malus and clawback provisions.
The Remuneration and Talent Committee of the Board approved the
2023 grants to the Executive Directors on 5 April 2023 as
follows:
PDMR Position PSUs
Seamus Keating CEO 143,514
---------- --------
Ryan Preston CFO 38,270
---------- --------
Total 181,784
--------
The PSUs for the CEO and CFO will vest on the achievement of
performance metrics linked to the performance of the Group's
business units over the three years to 28 February 2026, which
metrics are designed to be challenging and to reward value
creation.
The PSUs for the CFO and two thirds of the PSUs for the CEO will
vest based on:
Threshold Maximum
Metric Weighting 25% vesting 50% vesting 100% vesting
------------- ---------- -------------- ------------ ---------------
KX Combined 65% 88% of target Target 125% of target
ARR growth
and EBITDA*
------------- ---------- -------------- ------------ ---------------
First Derivative EBITDA 25% 84% of target Target 115% of target
------------- ---------- -------------- ------------ ---------------
MRP EBITDA 10% 83% of target Target 117% of target
------------- ---------- -------------- ------------ ---------------
*KX ARR and EBITDA (excluding capitalised development costs)
metrics are linked to eliminate the impact of any investment
decisions taken during the period, such that overperformance in one
metric will reduce the target in the other
The remaining third of the PSUs for the CEO will vest based on
Total Shareholder Return (TSR) over the three year period with
vesting starting at 25% for 25% TSR appreciation and increasing on
a straight line basis up to a maximum of 100%.
In addition to the award to Directors, a total of 109,672 PSUs
have been awarded to other senior leaders in the business units and
in the Group's central operations again subject to three-year cliff
vesting and performance metrics relevant to their part of the
Group. A total of 58,186 Restricted Stock Units ("RSUs") typically
vesting annually over the next three years have also been awarded
to senior employees. Based on a share price of GBP17.42, these
awards amount to, in aggregate, 349,642 shares (on the assumption
that all vest), representing 1.34 per cent of the Group's currently
issued and outstanding shares.
Further information regarding the LTIP arrangements and the
Group's remuneration framework will be provided in the Group's
annual report for the year ended 28 February 2023.
Enquiries
For further information please contact:
FD Technologies plc +44(0)28 3025 2242
Seamus Keating, Chief Executive Officer www.fdtechnologies.com
Ryan Preston, Chief Financial Officer
Ian Mitchell, Head of Investor Relations
Investec Bank plc (Nominated Adviser
and Broker)
Carlton Nelson
Virginia Bull +44 (0) 20 7597 5970
Goodbody (Euronext Growth Adviser
and Broker)
David Kearney
Don Harrington
Nick Donovan +353 1 667 0420
J.P. Morgan Cazenove (Broker)
James A. Kelly
Mose Adigun +44 (0) 203 493 8000
About FD Technologies
FD Technologies is a group of data-driven businesses that unlock
the value of insight, hindsight and foresight to drive
organisations forward. The Group comprises KX, the leading
technology for real-time continuous intelligence; First Derivative,
which provides technology-led services in capital markets; and MRP,
the only enterprise-class, predictive Accounts Based Marketing
solution. FD Technologies operates from 14 locations across Europe,
North America and Asia Pacific, and employs more than 3,100 people
worldwide.
For further information, please visit www.fdtechnologies.com and
www.kx.com
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name Seamus Keating
----------------------------- ------------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a) Positio n / status CEO
----------------------------- ------------------------------------
b) Initial notification Initial Notification
/ amendment
----------------------------- ------------------------------------
3. Details of the Issuer
-------------------------------------------------------------------
a) Name FD Technologies plc
----------------------------- ------------------------------------
b) LEI 213800MKQAJ5R7WIU633
----------------------------- ------------------------------------
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 Ordinary Shares of GBP0.005
financial instrument, ISIN: GB0031477770
t ype of instrument
----------------------------- ------------------------------------
b) Nature of the transaction Grant of Performance Share Units
----------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 143,514
----------
----------------------------- ------------------------------------
d) Aggregated information N/a - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------
e) Date of the transaction 5(th) April 2023
----------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------
1. Details of PDMR / person closely associated with them
("PCA ")
a) Name Ryan Preston
----------------------------- ------------------------------------
2. Reason for the notification
-------------------------------------------------------------------
a) Positio n / status CFO
----------------------------- ------------------------------------
b) Initial notification Initial Notification
/ amendment
----------------------------- ------------------------------------
3. Details of the Issuer
-------------------------------------------------------------------
a) Name FD Technologies plc
----------------------------- ------------------------------------
b) LEI 213800MKQAJ5R7WIU633
----------------------------- ------------------------------------
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 Ordinary Shares of GBP0.005
financial instrument, ISIN: GB0031477770
t ype of instrument
----------------------------- ------------------------------------
b) Nature of the transaction Grant of Performance Share Units
----------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 38,270
----------
----------------------------- ------------------------------------
d) Aggregated information N/a - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------
e) Date of the transaction 5(th) April 2023
----------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------
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END
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