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LONDON - SysGroup plc (AIM:SYS), a provider of cloud, cybersecurity, and AI enablement solutions, has awarded share options over 1,377,910 ordinary shares to its executive directors and a person discharging managerial responsibilities (PDMR), according to a company statement released Wednesday.
The Remuneration Committee approved the grants on September 2 under the SysGroup Performance Share Plan (PSP). The committee reduced the proportion of awards to reflect current market value after considering the prevailing share price.
Group Executive Chairman Heejae Chae received 745,075 PSP share options, while Group Financial Officer Owen Phillips was granted 334,328 options. Company Secretary and General Counsel Wendy Baker received 298,507 options.
All recipients participate in SysGroup’s Value Creation Plan (VCP), which shareholders approved on June 26, 2024. According to the PSP scheme rules, these awards cannot be exercised until after June 26, 2029, which marks the VCP measurement date.
The company noted that if VCP awards vest, any vested PSP awards will be offset, ensuring participants benefit from only one of the plans.
The share options were granted at a price of £0.01 per ordinary share. SysGroup describes itself as a trusted partner for UK mid-market companies, delivering end-to-end solutions at the intersection of cybersecurity and digital transformation.
The information was disclosed in accordance with regulatory requirements for transactions by persons discharging managerial responsibilities.
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