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Allocation of phantom shares under TUI AG’s Long Term Incentive Plans

TUI AG (TUI)
Allocation of phantom shares under TUI AG’s Long Term Incentive Plans
05-Oct-2022 / 17:01 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

 

TUI AG

Regulatory Announcements

Allocation of phantom shares under TUI AG’s Long Term Incentive Plans

TUI AG (the “Company”) announces that phantom shares (“Phantom Shares”) were allocated to the members of the Executive Board set out in the table below under TUI AG’s Long Term Incentive Plan.

The Phantom Shares were automatically allocated in accordance with the terms of the individual’s respective service agreements and the vesting and payment of the Phantom Shares is conditional on (i) an EPS performance target, determined over a 4-year performance period; (ii) the share price at the date of vesting; and (iii) the remuneration restrictions resulting from the second framework agreement on the granting of stabilization measures ("Framework Agreement II") concluded by TUI AG with the Economic Stabilization Fund (“Fund”) on 4 January 2021. Upon expiry of the 4-year performance period, the Supervisory Board will determine whether the conditions have been satisfied and a possible claim to a payment in respect of the Phantom Shares arises.

The Framework Agreement II stipulates that the Executive Board members (including any group remuneration in the event of dual employment, including at a group company that is not a material group company) may not be granted (and thus may not be constituted) bonuses, other variable or comparable remuneration components as long as the Company makes use of the overall stabilization measures of the Fund.

The Phantom Shares were allocated on 1 October 2022 at a base price of EUR 1.509 per share. This share price equals the average XETRA price of TUI AG shares over a period of 20 trading days before the date of allocation.

Name of the PDMR

Corporate Body

Number of allocated Phantom Shares

Sebastian Ebel

Executive Board

1,212,723.66

David Burling

Executive Board

609,675.28

Mathias Kiep

Executive Board

506,958.25

Peter Krueger

Executive Board

506,958.25

Sybille Reiss

Executive Board

506,958.25

Frank Rosenberger

Executive Board

506,958.25

Friedrich Joussen

Executive Board

  1,212,723.66

 

 


ISIN:

DE000TUAG000

Category Code:

DSH

TIDM:

TUI

LEI Code:

529900SL2WSPV293B552

OAM Categories:

3.1. Additional regulated information required to be disclosed under the laws of a Member State

Sequence No.:

192705

EQS News ID:

1457669


 

End of Announcement

EQS News Service

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