t
On April 14, 2022, Blackbird plc issued a total of 941.38 LTIP1 units to its Directors and senior management under the Company's Long Term Incentive Plan. This included 282.41 LTIP1 units for CEO Ian McDonough, 188.28 LTIP1 units for R&D Director Stephen Streater, and 94.14 LTIP1 units for COO and CFO Stephen White. This issuance represents the final award for the first LTIP period, which ran from January 1, 2019, to December 31, 2021.
| Date | 14 Apr 2022 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 3364I |
14 April 2022
Blackbird plc
(the "Company")
Issue of LTIP units
Blackbird plc (AIM: BIRD, OTCQX: BBRDF), the technology licensor, developer and seller of market-leading cloud video platform, Blackbird, announces that it has today issued units to Directors and senior management of the Company, pursuant to the Company's Long Term Incentive Plan ("LTIP") which was approved by shareholders at the 2019 Annual General Meeting when the closing share price was 6.25 pence the previous day.
Details of the number of units being issued to each Director are set out below.
|
Name |
Title |
LTIP1 units being issued |
LTIP2 units being issued |
LTIP1 units held post issue |
LTIP2 units |
|
held post issue |
|||||
|
Ian McDonough |
Chief Executive Officer |
282.41 |
- |
639.61 |
191.90 |
|
Stephen Streater |
R&D Director |
188.28 |
- |
237.58 |
115.10 |
|
Stephen White |
Chief Operating and Financial Officer |
94.14 |
- |
143.44 |
115.10 |
Under the LTIP, LTIP 1 and LTIP 2 units are designed to allow individuals to share in improving shareholder value above a base share price (15p and 20p for LTIP 1 and LTIP 2 respectively). The LTIP is designed to reward specific individuals through cash payments for activities that drive value creation for shareholders. Each of LTIP 1 and LTIP 2 consists of 5,000 LTIP units that collectively form a pool and the value of each pool is calculated at 5% of the increase in the Company's share price above the respective base share price for each pool.
In total 941.38 LTIP1 units are today being issued to Directors and senior management. This will be the final award for the first LTIP period which ran from 1 January 2019 to 31 December 2021. Including today's issue, the total number of awards issued is 1,438.28 LTIP1 units and 518.10 LTIP2 units. Details of the LTIP are set out in the investors section of the Company's website.
Enquiries:
|
Blackbird plc |
|
Ian McDonough, Chief Executive Officer |
|
Stephen White, Chief Operating and Financial Officer Tel: +44 (0)20 8879 7245 |
|
|
|
Allenby Capital Limited (Nominated Adviser and Broker) Nick Naylor / Piers Shimwell (Corporate Finance) Amrit Nahal (Sales and Corporate Broking) Tel: +44 (0)20 3328 5656 |
About Blackbird plc
Blackbird plc operates in the fast-growing SaaS and cloud video market. It has created Blackbird®, the world's most advanced suite of cloud-native computing applications for video, all underpinned by its lightning-fast codec. Blackbird plc's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. Blackbird® enables multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, esports, live events and content owners, post-production houses, other mass market digital video channels and corporations.
Since it is cloud-native, Blackbird® removes the need for costly, high end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for digital distribution, and ultimately results in much more effective monetisation.
Blackbird plc is a licensor of its core video technology under its 'Powered by Blackbird' licensing model. Enabling video companies to accelerate their path to true cloud business models, licensees benefit from power and carbon reductions, cost and time savings, less hardware and bandwidth requirements and easy scalability.
www.linkedin.com/company/blackbird-cloud