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LONDON - Blackbird plc (AIM:BIRD), a technology company specializing in cloud-native video editing platforms, announced Tuesday it has granted 2.96 million share options to employees under its EMI share option scheme, including 1.15 million options to company directors.
The options were granted at an exercise price of 2.8167 pence, calculated based on the average closing price of the company’s shares over the last three days. According to the company’s statement, the options will vest three years from the grant date and remain exercisable for seven years afterward.
Executive Chair Ian McDonough received 450,000 options, bringing his total to 6.48 million. R&D Director Stephen Streater and Chief Operating and Financial Officer Stephen White were each granted 300,000 options, while Non-Executive Directors Nick Lisher and Youri Hazanov received 50,000 options each.
Following this grant, Blackbird has a total of 27.795 million outstanding options over unissued ordinary shares, representing 6.07% of the company’s current ordinary share capital of 458,049,306 shares. Of these outstanding options, 12.4 million relate to Directors and PDMRs, accounting for 2.71% of the company’s current ordinary share capital.
Blackbird operates in the SaaS, media and entertainment sectors, offering two main products: Blackbird, a cloud-native video application suite used by broadcasters and content owners, and elevate.io, a collaborative content creation platform. The company also licenses its core video technology through its ’Powered by Blackbird’ model.
The announcement was made in accordance with UK Market Abuse Regulation requirements, as stated in the company’s press release.
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