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LONDON - Oxford Nanopore Technologies plc announced that CEO Gordon Sanghera has released and subsequently sold a portion of his company shares that were granted under the Founder Long-Term Incentive Plan (LTIP). The shares were released to Sanghera on Monday, following the end of a holding period that began after the initial vesting in April 2023.
Sanghera, who is also a Director and a Person Discharging Managerial Responsibilities, was granted 42,953 ordinary shares at no cost under the LTIP, which was approved by shareholders before the company’s initial public offering in 2021. On Wednesday, he sold 20,188 of these shares at a price of £1.194107 each on the London Stock Exchange (LON:LSEG), generating a total of £24,106.63. The sale was conducted to satisfy the tax liabilities associated with the release of the award. The remaining shares were retained by Sanghera.
The LTIP was designed as a one-time, conditional performance-related award, with the specifics of the plan and its vesting conditions disclosed to shareholders at the time of the company’s IPO. The release and subsequent sale of shares by Sanghera have been made public in accordance with regulatory requirements for transactions by persons discharging managerial responsibilities.
Oxford Nanopore Technologies plc is known for its innovative work in the field of nanopore-based DNA and RNA sequencing technology. The company’s shares are traded on the London Stock Exchange under the ticker symbol GB00BP6S8Z30.
This transaction has been reported in line with legal and regulatory obligations for transparency in the market. The information provided is based on a press release statement issued by the company.
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