LONDON - Inspired PLC (AIM: INSE), a company specializing in technology-driven services for businesses focusing on net zero and energy cost management, has reported the exercise of share options by key executives. On Monday, CEO Mark Dickinson, CFO Paul Connor, and CCO David Cockshott, collectively referred to as the Executives, exercised a total of 392,000 ordinary shares at a nominal value of £0.0125 each, following their participation in the company's recent share placement on December 17, 2024.
The exercised shares include 230,000 ordinary shares under the Group's 2017 Long Term Incentive Plan (LTIP), currently held by the Inspired Energy EBT, which will be transferred to Dickinson and Connor. Additionally, Cockshott has exercised 162,000 options under the Group's Share Option Scheme. The company's share price at the time of the exercise was 42p.
To accommodate Cockshott's exercised options, Inspired has applied for the admission of 162,000 new ordinary shares to the London Stock Exchange (LON:LSEG)'s AIM, with the expected admission date set for December 24, 2024. Post-admission, the total number of ordinary shares in issue will be 105,444,535, maintaining one vote per share.
The exercise of these options has increased the Executives' aggregate shareholding in Inspired from 0.89% to 1.26% of the issued share capital. The transactions result in Dickinson holding 0.79%, Connor 0.32%, and Cockshott 0.15% of the company's issued share capital.
The completion of this transaction is also notable for the tax implications, as the exercise of the 392,000 options was subject to income tax, including employer's National Insurance Contributions (NIC (NASDAQ:EGOV)), resulting in an effective tax rate of 55%.
This announcement, based on a press release statement, follows the regulatory requirements of the Market Abuse Regulation (EU) 596/2014, which remains part of UK law following the European Union (Withdrawal) Act 2018, as amended.
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