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Helios Underwriting plc granted nil cost options under its Long Term Incentive Plan on December 3, 2025. Louis Tucker, CEO, received awards over 289,575 ordinary shares with performance criteria, vesting December 3, 2028, and 64,058 shares without performance criteria, vesting in two parts on March 1, 2027 and March 1, 2028. Jen Tan, Head of Portfolio Strategy, received awards over 51,063 ordinary shares without performance criteria, vesting October 9, 2026.
| Date | 4 Dec 2025 |
| Time | 17:42:08 |
| Category | Director/PDMR dealings |
| ID | 3529K |
Helios Underwriting plc
4 December 2025
Helios Underwriting plc
("Helios", the "Company" or the "Group")
Notification and public disclosure of transactions by PDMRS
Grant of LTIP Awards
Helios, the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, announces that on 3 December 2025 the following Awards over ordinary shares of 10 pence each in the Company were granted under the Helios Underwriting plc Long Term Incentive Plan to the following persons discharging managerial responsibilities:
|
Participant |
Position |
Award Designation |
Number of Shares under Award |
Normal Vesting Date |
|
Louis Tucker |
Chief Executive Officer |
LTIP Award with performance criteria |
289,575 |
03.12.2028 |
|
Louis Tucker |
Chief Executive Officer |
LTIP Award without performance criteria |
Part I: 28,015 Part II: 36,043 |
Part I: 01.03.2027 Part II: 01.03.2028 |
|
Jen Tan |
Head of Portfolio Strategy |
LTIP Award without performance criteria |
51,063 |
09.10.2026 |
The Awards were granted as nil cost options.
The Awards will ordinary vest on their associated Normal Vesting Date, subject to the grantee's continued service.
The Normal LTIP Award to Mr Tucker is subject to performance conditions. As summarised in the table immediately below; such performance conditions set threshold to stretch targets in respect of Company's total shareholder return ("TSR") over the three year period following the grant of the Normal LTIP Award. No portion of the Normal LTIP Award shall performance vest unless the Company's TSR over the performance period reaches the threshold target, for which 25% of the Normal LTIP Award would performance vest, rising on a straight line basis to full performance vesting of the Normal LTIP Award for the Company's TSR over the performance period being equal to the stretch target or better.
|
The Company's TSR over the 3 year performance period |
% of the Normal LTIP Award that vests |
|
Less than 30% |
Nil |
|
30% |
25% |
|
60% or more |
100% |
|
Between 30% and 60% |
Between 25% and 100% on a straight-line basis |
The Normal LTIP Award is also subject to an underpin condition.
The information set out below is provided in accordance with the requirements of UK MAR.
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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|
a) |
Name |
1. Louis Tucker 2. Louis Tucker 3. Jen Tan
|
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|
2 |
Reason for Notification |
|||||||||
|
a) |
Position/status |
1. Chief Executive Officer 2. Chief Executive Officer 3. Head of Portfolio Strategy
|
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|
b) |
Initial notification/Amendment |
Initial Announcement |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||||
|
a) |
Name |
Helios Underwriting plc |
||||||||
|
b) |
LEI |
213800FX86DJW5TCM864
|
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|
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 Identification code |
Ordinary Shares of 10 pence each ISIN - GB00B23XLS45 |
||||||||
|
b) |
Nature of the transaction |
Grant of options over ordinary shares under the Helios Underwriting plc Long Term Incentive Plan with an option price of nil pence per share.
|
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|
c) |
Price(s) and volume(s)
|
|
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|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transactions Nil |
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|
e) |
Date of the transaction |
3 December 2025 |
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|
f) |
Place of the transaction |
Outside a trading venue |
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For further information, please contact:
Helios Underwriting plc
|
Louis Tucker - Chief Executive Officer |
+44 (0)203 965 6441 |
|
Adhiraj Maitra - Director of Finance and Operations |
+44 (0)203 743 2114 |
Deutsche Numis (Nomad and Broker)
|
Giles Rolls / Charles Farquhar |
+44 (0)20 7601 6100 |
FTI Consulting
|
Ed Berry |
+44 (0)7703 330 199 |
|
Christian Harte |
+44 (0)7974 288 763 |
About Helios
Helios provides a limited liability direct investment into the Lloyd's insurance market and is quoted on the London Stock Exchange's AIM market (ticker: HUW). Helios trades within the Lloyd's insurance market writing approximately £512m of capacity for the 2024 account. The portfolio provides a good spread of business being concentrated in property & casualty insurance and reinsurance. For further information please visit www.huwplc.com.