Hikma Pharmaceuticals PLC - LTIP and EIP Awards
LONDON, 31 May 2023: Hikma Pharmaceuticals PLC (LSE: HIK) (NasdaqDubai: HIK) (LEI: 549300BNS685UXH4JI75) announces that the Remuneration Committee made the following conditional awards under the Hikma Pharmaceuticals PLC 2023 Long Term Incentive Plan (the "LTIP"); the 2014 Executive Incentive Plan (the "EIP") to Persons Discharging Managerial Responsibility ("PDMR") of the Company. No consideration was paid for the grant of the awards.
Awards under the LTIP were made on 30 May 2023 based on a price of £18.43 per Ordinary Share (being the average mid-market Ordinary Share price for the for the 5-working day period prior to 30 May 2023, in accordance with the LTIP rules) (the "LTIP Awards"). The vesting of the LTIP Awards is subject to the continued employment of the PDMRs, malus and clawback provisions and the satisfaction of performance conditions set by the Remuneration Committee of the Company. The LTIP Awards will normally vest on the later of the third anniversary of the date of grant and the determination of the performance conditions. The LTIP Awards are then subject to an additional two-year holding period.
Awards under the EIP were made on 30 May 2023 based on a price of £15.15 per Ordinary Share (being the average mid-market Ordinary Share price for the 30-day period prior to 31 December 2022, in accordance with the EIP rules) (the "EIP Awards"). All EIP Awards are subject to malus and clawback provisions. EIP Element B Awards will normally vest on the second anniversary of the date of grant, subject to continued employment, and are then subject to an additional three-year holding period. EIP Element C Awards will normally vest on the third anniversary of the date of grant, subject to continued employment, and are then subject to an additional two-year holding period.
This notification is made under Article 19(1) of the EU Market Abuse Regulation 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). The information set out below is provided in accordance with the requirements of Article 19(3) of MAR.
Notification and public disclosure of transactions by persons discharging managerial responsibilities
Said Darwazah
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Said Darwazah | |
| 2 | Reason for the notification | ||
| a) | Position/status | Executive Chairman and Chief Executive Officer | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 132,783 Shares | ||
| Nil | EIP Award, Element B: 31,679 Shares | ||
| Nil | EIP Award, Element C: 19,761 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 184,223 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Mazen Darwazah
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Mazen Darwazah | |
| 2 | Reason for the notification | ||
| a) | Position/status | Executive Vice Chairman | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 105,233 Shares | ||
| Nil | EIP Award, Element B: 36,171 Shares | ||
| Nil | EIP Award, Element C: 20,650 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 162,054 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Bassam Kanaan
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Bassam Kanaan | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 76,130 Shares | ||
| Nil | EIP Award, Element B: 28,647 Shares | ||
| Nil | EIP Award, Element C: 20,982 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 125,759 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Khalid Nabilsi
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Khalid Nabilsi | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 74,699 Shares | ||
| Nil | EIP Award, Element B: 28,833 Shares | ||
| Nil | EIP Award, Element C: 22,209 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 125,741 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Riad Mishlawi
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Riad Mishlawi | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 75,339 Shares | ||
| Nil | EIP Award, Element B: 36,371 Shares | ||
| Nil | EIP Award, Element C: 30,749 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 142,459 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Majda Labadi
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Majda Labadi | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 50,301 Shares | ||
| Nil | EIP Award, Element B: 18,836 Shares | ||
| Nil | EIP Award, Element C: 13,796 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 82,933 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Susan Ringdal
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Susan Ringdal | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 38,409 Shares | ||
| Nil | EIP Award, Element B: 15,925 Shares | ||
| Nil | EIP Award, Element C: 11,664 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 65,998 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Brian Hoffmann
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Brian Hoffmann | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 54,422 Shares | ||
| Nil | EIP Award, Element B: 12,233 Shares | ||
| Nil | EIP Award, Element C: 8,302 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 74,957 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Hussein Arkhagha
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Hussein Arkhagha | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Hikma Pharmaceuticals PLC | |
| b) | LEI | 549300BNS685UXH4JI75 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument and identification code | Description: Ordinary shares of 10 pence each (Shares) ID Code: GB00B0LCW083 | |
| b) | Nature of the transaction
| Grant of awards under the LTIP and EIP. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | LTIP Award: 41,408 Shares | ||
| Nil | EIP Award, Element B: 15,983 Shares | ||
| Nil | EIP Award, Element C: 12,406 Shares | ||
| d) | Aggregated information | Price(s): nil Volume(s): 69,797 | |
| e) | Date of the transaction | 30 May 2023 | |
| f) | Place of the transaction | Outside a trading venue | |
Helen Middlemist
Deputy Company Secretary
+44 (0) 20 7399 2760
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