RNS Number : 4354K
Ultra Electronics Holdings PLC
13 December 2018

Ultra Electronics Holdings plc (the "Company")


Ultra Electronics Long Term Incentive Plan 2017


Director/PDMR Shareholding

On 13 December 2018 Stephen Izquierdo was granted an award entitling him to acquire 2,272 ordinary shares of 5 pence each in the Company under the Ultra Electronics Long Term Incentive Plan 2017.

The award is in the form of an option with a nil exercise price. Additional shares may be delivered equivalent to the value of dividends with record dates in the period from grant to vesting (or the end of the holding period mentioned below).


The award will normally vest in approximately equal tranches on the first, second and third anniversaries of 5 November 2018, the date on which Mr Izquierdo commenced employment with the Company. Vesting is normally subject to continued employment.  The award will normally be exercisable until the day before the 10th anniversary of its grant. Shares not sold to fund tax withholding on their acquisition must normally be retained for 2 years from vesting. The award may be settled in cash at the discretion of the Remuneration Committee.


No payment was made for the grant of the award and no payment is due on its vesting or exercise.



Details of PDMR / person closely associated with them ("PCA")



Stephen Izquierdo


Position / status

Chief HR Officer


Initial notification / amendment

Initial notification


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



Ultra Electronics Holdings plc






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


Description of the financial instrument

Identification Code

5p Ordinary Shares




Nature of the transaction

Grant of an award under the Company's Long Term Incentive Plan as a nil exercise price option. Subject to continued service, it will normally vest in equal tranches on 5 November in each of 2019, 2020 and 2021.


Price(s) and volume(s)






Aggregated information

-      Aggregated volume

-      Price


Not applicable - single transaction


Date of the transaction

13 December 2018


Place of the transaction

Outside a trading venue



Further information


The above notification is made in accordance with Article 19 of the Market Abuse Regulation and Rule 3.1 of the Disclosure and Transparency Rules.


Name of contact and telephone number for enquiriesAnant Prakash +44 (0) 02 8813 4321

For and on behalf of Ultra Electronics Holdings plc.


Anant Prakash

General Counsel & Company Secretary

Date: 13 December 2018

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