Executive Share Awards Announcement by OSB Group PLC
Executive Share Awards Announcement
LEI: 213800ZBKL9BHSL2K459
OSB GROUP PLC
OSB Group PLC highlights key changes concerning share interests among its Executive Directors and other Persons Discharging Managerial Responsibilities (PDMRs). These adjustments stem from recent awards granted under the Deferred Share Bonus Plan (DSBP) and the Performance Share Plan (PSP).
Understanding Share Awards
The allocation of shares under these plans marks a significant moment for the executives involved. With the DSBP, a portion of an employee's annual bonus is converted into shares, promoting a long-term connection between employees and the company's success. Notably, Executive Directors must retain these shares for a minimum of three years, while other PDMRs have a one-year holding period post-award.
Deferred Share Bonus Plan (DSBP)
The DSBP operates without performance conditions, ensuring participants can gradually engage in the company's growth while deferring part of their bonus into equity. It acts as a vehicle to enhance engagement among senior staff, aligning their interests more closely with shareholders.
Performance Share Plan (PSP)
Contrastingly, the PSP hinges on performance metrics, requiring executives to achieve specific financial and ESG objectives over the vesting period, defined across three years. This approach ensures a focus not just on short-term gains but on sustained company performance and responsible governance.
Details of the Share Awards
A breakdown of the share awards granted to senior executives is as follows:
Executive Directors such as Andrew Golding received awards reflecting overall company performance, amounting to:
- Andrew Golding: 340,542 shares
- Victoria Hyde: 200,428 shares
A similar structured approach applies to other key PDMRs:
- Jens Bech: 120,077 shares
- Jason Elphick: 109,348 shares
- Jon Hall: 125,105 shares
- Orlagh Hunt: 107,955 shares
- Clive Kornitzer: 137,156 shares
- Lisa Odendaal: 85,747 shares
- Richard Wilson: 94,978 shares
Regulatory Compliance
This notification follows the requirements set forth under Article 19 of the UK Market Abuse Regulation, ensuring transparency and compliance with regulatory standards.
About OSB Group PLC
Founded in 2011, OSB Group PLC has established its presence in the banking sector with robust growth and stability. The Group transitioned to the main market of the London Stock Exchange in 2014 and became a member of the FTSE 250 index in 2015. It acquired Charter Court Financial Services Group in October 2019, reinforcing its position in the specialist lending and retail savings sector. The Group is regulated by both the Prudential Regulation Authority and the Financial Conduct Authority.
Frequently Asked Questions
What is the Deferred Share Bonus Plan?
The DSBP allows executives to defer part of their annual bonus into shares, promoting ownership and long-term commitment.
How does the Performance Share Plan work?
The PSP ties share awards to performance metrics, ensuring executives meet financial and ESG objectives over multiple years.
What are the holding periods for share awards?
Executive Directors must retain shares for at least three years, while other PDMRs have a minimum holding period of one year.
What does the UK Market Abuse Regulation entail?
This regulation aims to uphold transparency and integrity in financial markets by mandating disclosures on share transactions.
How can I contact OSB Group for more information?
For inquiries, you can reach out directly to Dionne Mortley-Forde at 01634 848 944 or Alastair Pate at 01634 838973.
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