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Insig AI plc announced on 24 March 2025 that CEO Richard Bernstein transferred 2,000,000 previously granted share options to a non-PDMR consultant. These options, granted on 6 June 2024 with a 20 pence exercise price, expire on 5 June 2029 and vest over three years based on revenue targets of £2.0m and £3.0m. Following this transfer, Mr. Bernstein holds 3,666,667 options and warrants, representing 2.75% of the fully diluted share capital (after a pending 31 March 2025 share issue).
| Date | 24 Mar 2025 |
| Time | 07:03:00 |
| Category | Miscellaneous |
| ID | 8328B |
24 March 2025
Insig AI plc
("Insig AI", the "Company" or the "Group")
Transfer of Share Options
Insig AI plc (AIM: INSG), the data science and machine learning group, announces that Richard Bernstein has transferred 2,000,000 options in the Company previously granted to him to a non-PDMR consultant to the Company.
These options were originally granted to Richard Bernstein on 6 June 2024 (see RNS number 3246R), have an exercise price of 20 pence and expire on 5 June 2029. They vest equally over a three-year period, on the first, second and third anniversary of the date of grant and are subject to certain vesting criteria, namely:
- Revenue exceeding £2.0m for a preceding 12 month rolling period (50% of the award); and
- Revenue exceeding £3.0m for a preceding 12 month rolling period (50% of the award).
The transfer was performed to potentially remunerate the consultant (assuming the options vest) whilst avoiding any cash outflow from the business, and also by avoiding further potential dilution had new options been granted.
Following the transfer, Richard Bernstein continues to hold 3,666,667 options and warrants in the Company, which represent approximately 2.75% of the total fully diluted issued share capital of the Company (following the pending issue of new ordinary shares on 31 March 2025).
The total number of share options and warrants granted by the Company remains at 13,160,471, which represents 9.89% of the total issued share capital of the Company (following the pending issue of new ordinary shares on 31 March 2025).
For further information, please visit www.insig-ai.com or contact:
Insig AI plc
Richard Bernstein, CEO [email protected]
Zeus (Nominated Adviser & Broker)
David Foreman / James Hornigold +44 (0) 203 829 5000
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Richard Bernstein
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2
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Reason for the notification
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a)
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Position/status
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CEO |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Insig AI plc |
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b)
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LEI
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21380098CKBAG1NWCD98 |
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Ordinary Shares of 1 pence each |
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Identification code |
GB00BYV31355 |
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b)
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Nature of the transaction |
Transfer of previously granted options from Richarda Bernstein to a non-PDMR consultant to the Company |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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20 pence |
2,000,000 |
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d)
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Aggregated information |
N/A single transaction |
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- Aggregated volume |
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- Price |
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e)
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Date of the transaction
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24 March 2025 |
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f)
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Place of the transaction
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London Stock Exchange |
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