Ilika Plc (LON:IKA), a pioneer in solid-state battery technology, has announced that on 28 February 2023 it granted options to Executive Directors and employees under the Long Term Incentive Plan approved by shareholders in 2018 and the EMI scheme.
LTIP
Ilika awarded nominal value options under the LTIP over 416,954 ordinary shares of 1p each in the Company to an Executive Director and options over a further 2,800 Ordinary Shares to employees. Each award vests on the achievement of certain performance targets over a three-year period.
EMI option scheme
Ilika plc granted market value options over 802,248 ordinary shares of 1p each in the Company to an Executive Director and employees under the Company EMI option scheme. EMI options vest on the achievement of certain performance targets over a three-year period.
The awards are intended to align the incentives of the Executive Directors and other senior employees with the Company’s performance and outcomes for shareholders over the long term and to provide effective and attractive levels of reward, based on delivering strong performance in a fair and proportionate manner.
In total, options over 1,222,002 Ordinary Shares have been granted representing 0.77% of issued share capital.
Details of grants issued under the LTIP and EMI option scheme by each Executive Director are set out in the table below, together with the total number of Ordinary Shares each Executive Director holds under option and is interested in.
| Director | Number of options granted | Scheme under which options granted | Total number of Options now held | Per cent. of issued share capital |
| Graeme Purdy | 416,954 | LTIP | 2,779,067 | 1.76 |
| Jason Stewart | 300,000 | EMI | 300,000 | 0.19 |
