t
On 30 April 2026, XP Power Limited awarded nominal priced options to Executive Directors Gavin Griggs and Matthew Webb under its Restricted Share Plan (RSP) and Long Term Incentive Plan (LTIP). Gavin Griggs received 937 RSP and 7,498 LTIP options, while Matthew Webb received 723 RSP and 5,787 LTIP options, with an exercise price of £0.01 per share. RSP options have a five-year vesting period without performance conditions, whereas LTIP options vest after five years subject to three-year performance conditions, calculated using a five-day average market quotation of £15.66.
Disseminated via PRN on 1 May 2026
1 May 2026
XP Power Limited
(“XP Power” or “the Company”)
Grant of Restricted Share Plan and Long Term Incentive Plan awards
The Company announces that on 30 April 2026, Executive Directors of the Company, Gavin Griggs and Matt Webb, were awarded nominal priced options over ordinary shares of 1 pence each in the Company (“Ordinary Shares”), under the XP Power Limited Restricted Share Plan 2020 (the “RSPs”) and the XP Power Limited Long Term Incentive Plan 2017 (the “LTIPs”). The RSPs are subject to a five - year vesting period, with no performance conditions attached. The vesting of the LTIPs, after five years, is conditional on meeting performance conditions measured at the end of a three-year period.
The five-day average of the closing mid-market quotation prior to the date of grant used to calculate the number of options granted under the LTIP and RSP, was £15.66.
These grants represent the additional awards to bring the overall LTIP awards granted in FY26 up to the levels permitted within the Directors’ Remuneration Policy approved at the 2026 AGM, as disclosed in the Directors Remuneration Report, with the same vesting conditions as per the awards granted on 10 March 2026.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, gives further details.
|
1 |
Details of the person discharging managerial responsibilities |
||||||||
|
a) |
Name |
Gavin Griggs |
|||||||
|
2 |
Reason for the notification |
||||||||
|
a) |
Position/status |
Chief Executive Officer (PDMR) |
|||||||
|
b) |
Initial notification /Amendment |
Initial Notification |
|||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||
|
a) |
Name |
XP POWER LIMITED |
|||||||
|
b) |
LEI |
213800I7RWQ3FV72EZ26 |
|||||||
|
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 £0.01 each (“Ordinary Shares”)
|
|||||||
|
b) |
Nature of the transaction |
1) |
Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. |
||||||
|
|
|
2) |
Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years is subject to the achievement of performance conditions assessed at the end of a three - year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. |
||||||
|
|
|
|
|||||||
|
c)
|
Price(s) and volume(s)
|
|
|||||||
|
d)
|
Aggregated information - Aggregated volume - Price |
8,435 Nil |
|||||||
|
e) |
Date of the transaction |
30 April 2026 |
|||||||
|
f) |
Place of the transaction |
Outside a trading venue |
|||||||
|
1 |
Details of the person discharging managerial responsibilities |
||||||||
|
a) |
Name |
Matthew Webb |
|||||||
|
2 |
Reason for the notification |
||||||||
|
a) |
Position/status |
Chief Financial Officer (PDMR) |
|||||||
|
b) |
Initial notification /Amendment |
Initial Notification |
|||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||
|
a) |
Name |
XP POWER LIMITED |
|||||||
|
b) |
LEI |
213800I7RWQ3FV72EZ26 |
|||||||
|
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 £0.01 each (“Ordinary Shares”)
|
|||||||
|
b) |
Nature of the transaction |
1) |
Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. |
||||||
|
|
|
2) |
Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years, is subject to the achievement of performance conditions assessed at the end of a three - year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable. |
||||||
|
|
|
|
|||||||
|
c)
|
Price(s) and volume(s)
|
|
|||||||
|
d)
|
Aggregated information - Aggregated volume - Price |
6,510 Nil |
|||||||
|
e) |
Date of the transaction |
30 April 2026 |
|||||||
|
f) |
Place of the transaction |
Outside a trading venue |
|||||||
Enquiries:
|
XP Power |
|
|
Ruth Cartwright, Company Secretary |
+44 (0)118 984 5515 |
|
|
|
