Overview#
XP Power Limited has announced the awarding of share options to its executive directors as part of two compensation plans. This move aims to align the interests of the executives with the company's performance.
Details of the Share Options#
On Wednesday, Chief Executive Officer Gavin Griggs received options for 8,435 ordinary shares. This includes 937 shares from the Restricted Share Plan (RSP) 2020 and 7,498 shares from the Long Term Incentive Plan (LTIP) 2017. Chief Financial Officer Matthew Webb was awarded options for 6,510 ordinary shares, which consist of 723 shares under the RSP and 5,787 shares under the LTIP.
Exercise Price and Vesting Conditions#
The share options come with a nominal exercise price of £0.01 per share. This means that executives will only need to pay this small amount when they choose to exercise their options. The number of options was determined based on a five-day average closing price of £15.66 prior to the grant date.
The RSP awards will vest after five years without any performance conditions, while the LTIP awards will also vest after five years but will be subject to performance conditions evaluated at the end of a three-year period.
Compliance with Remuneration Policy#
These grants are part of the company’s strategy to ensure that total LTIP awards for the fiscal year 2026 remain within the limits set by the Directors’ Remuneration Policy, which was approved at the 2026 Annual General Meeting. The vesting conditions for these new awards are consistent with those of options granted on March 10, 2026. No payment is required upon the grant or vesting of the options, and the exercise price is only payable when the options are exercised.