Summit Therapeutics plc : Grant of share options
Summit Therapeutics plc
(`Summit` or the `Company`)
GRANT OF SHARE OPTIONS TO DIRECTORS, PDMRS AND EMPLOYEES AND GRANT OF RESTRICTED STOCK UNITS TO NON-EXECUTIVE DIRECTORS
Oxford, UK, 25 October 2017 - Summit Therapeutics plc (AIM: SUMM, NASDAQ: SMMT), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy and Clostridium difficile infection, announces that the following options over new ordinary shares of 1 penny nominal value (`Ordinary Shares`) were granted on 24 October 2017 to Directors, PDMRs and employees in line with the Company`s Long Term Incentive Plan. The Company has also made a grant of restricted stock units (`RSUs`) to the Non-Executive Directors under the Company`s 2017 Remuneration Policy. Details of both grants are summarised below.
Grant of Share Options
Director/PDMR | Position | Options Awarded | Total Options Held |
Glyn Edwards | Chief Executive Officer | 198,776 | 2,994,310 |
Erik Ostrowski | Chief Financial Officer | 98,495 | 1,216,557 |
These options have an exercise price of 180 pence per share and will vest in full on 24 October 2020 subject to achievement of performance conditions pertaining to corporate and programme development milestones.
Options over 493,727 Ordinary Shares were granted to other employees of the Company. These options have an exercise price of 180 pence per share. They will vest in nine equal tranches on a quarterly basis from 24 October 2018 and will vest in full on 24 October 2020.
Award of Restricted Stock Units
Director | Position | RSU`s Awarded | Total RSUs Held |
Frank Armstrong | Non-Exective Chairman | 41,666 | 82,762 |
Barry Price | Non-Executive Director | 19,444 | 38,623 |
Stephen Davies | Non-Executive Director | 19,444 | 38,623 |
Leopoldo Zambeletti | Non-Executive Director | 19,444 | 38,623 |
Valerie Andrews | Non-Executive Director | 19,444 | 38,623 |
Dave Wurzer | Non-Executive Director | 19,444 | 38,623 |
Each RSU entitles the holder to subscribe for an Ordinary Share at a subscription price of 1 penny per Ordinary Share. The RSUs have a vesting period of one year and no performance conditions. The RSU programme is part of the 2017 Remuneration Policy. The RSUs granted will vest on 24 October 2018.
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
About Summit Therapeutics
Summit is a biopharmaceutical company focused on the discovery, development and commercialisation of novel medicines for indications for which there are no existing or only inadequate therapies. Summit is conducting clinical programs focused on the genetic disease, Duchenne muscular dystrophy, and the infectious disease, Clostridium difficile infection. Further information is available at www.summitplc.com and Summit can be followed on Twitter (@summitplc).
For more information, please contact:
Summit |
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Cairn Financial Advisers LLP |
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N+1 Singer |
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MacDougall Biomedical Communications |
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Consilium Strategic Communications | Tel: +44 (0)20 3709 5700 |
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Mr Glyn Edwards | |||
2 | Reason for the notification | ||||
a) | Position / status | Chief Executive Officer | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of share options | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
180 pence per share (exercise price) | 198,776 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Mr Erik Ostrowski | |||
2 | Reason for the notification | ||||
a) | Position / status | Chief Financial Officer | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of share options | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
180 pence per share (exercise price) | 98,495 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Dr Frank Armstrong | |||
2 | Reason for the notification | ||||
a) | Position / status | Non-Executive Chairman | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of restricted stock units | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1 penny per share (subscription price) | 41,666 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Dr Barry Price | |||
2 | Reason for the notification | ||||
a) | Position / status | Non-Executive Director | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of restricted stock units | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1 penny per share (subscription price) | 19,444 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Professor Stephen Davies | |||
2 | Reason for the notification | ||||
a) | Position / status | Non-Executive Director | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of restricted stock units | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1 penny per share (subscription price) | 19,444 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Mr Leopoldo Zambeletti | |||
2 | Reason for the notification | ||||
a) | Position / status | Non-Executive Director | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of restricted stock units | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1 penny per share (subscription price) | 19,444 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Ms Valerie Andrews | |||
2 | Reason for the notification | ||||
a) | Position / status | Non-Executive Director | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of restricted stock units | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1 penny per share (subscription price) | 19,444 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Mr Dave Wurzer | |||
2 | Reason for the notification | ||||
a) | Position / status | Non-Executive Director | |||
b) | Initial notification / Amendment | Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Summit Therapeutics plc | |||
b) | LEI | 213800NRW8AOMYMTBD89 | |||
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 penny each | |||
Identification code | GB00BN40HZ01 | ||||
b) | Nature of the transactions | Grant of restricted stock units | |||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
1 penny per share (subscription price) | 19,444 | ||||
d) | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 24 October 2017 | |||
f) | Place of the transaction | Outside a trading venue | |||
-END-
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Summit Therapeutics plc via GlobeNewswire
HUG#2144446
