Cambridge Cognition Holdings plc (LON:COG), which develops and markets digital solutions to assess brain health, has announced that on 15 December 2023, the Company granted options over a total of 1,012,465 ordinary shares of 1 pence each in the capital of the Company pursuant to the Company’s 2022 Long Term Incentive Plan.
Of these Options:
1. Options in respect of 411,449 Ordinary Shares were granted to Persons Discharging Managerial Responsibilities (“PDMRs”) as follows:
| Name | Role | Number of Ordinary Shares over which Options Granted | Total number of Ordinary Shares over which Options held following Grant | Total number of Ordinary Shares held | Percentage of Current Issued Share Capital Held |
| Matthew Stork | Chief Executive Officer | 190,839 | 1,185,197 | 161,450 | 0.46% |
| Stephen Symonds | Chief Financial Officer | 158,778 | 311,449 | 32,950 | 0.09% |
| Ricky Dolphin | Chief Technology Officer | 61,832 | 282,359 | 119,534 | 0.34% |
2. Options in respect of 601,016 Ordinary Shares were granted to other employees of the Company.
The Options granted to the PDMRs are in each case “performance share awards” that are exercisable at a price of 1 pence per Ordinary Share from three years following the date of award until the tenth anniversary of the date of award, subject to continued service and to the extent to which challenging performance conditions are achieved.
Under the terms of the aforementioned performance conditions, one-half of each of the Options is subject to sliding scale compound annual growth rate targets for adjusted revenue over the three year period ending 31 December 2025, the other half of each of the Options is subject to a sliding scale measure of relative total shareholder performance over a three year period that commenced on the grant of the Options.
The Options granted to others (save for one more performance share award) are exercisable at a price of 1 pence per Ordinary Share from two and a half years following the date of award until the tenth anniversary of the date of award, and will vest subject to continued service (so called ‘restricted share awards’).
The LTIP has scope to grant both EMI awards and non-EMI awards and was recently adopted by the Board. The terms of the LTIP align to best practice expectations, including as leaver terms and malus and clawback provisions.
Following the grant of Options, the total number of options outstanding over unissued Ordinary Shares is 3,311,573 representing approximately 9.47% of the Company’s issued share capital.
Cambridge Cognition (LON:COG) is a world leading neuroscience technology company committed to enhancing global research, accelerating treatment development and improving patient outcomes in conditions affecting brain health by optimising the assessment of cognition.
