OXFORD, UK - Oxford Biomedica plc (LSE:OXB), a leader in cell and gene therapy manufacturing, announced a modification to its executive compensation structure today. Mark Caswell, the Site Head of UK Operations, has been granted an award under the company's Long Term Incentive Plan (LTIP), with a vesting date set for October 3, 2027.
The newly granted LTIP award replaces a prior Restricted Stock Unit (RSU) award that was issued to Caswell on October 3, 2024, which has now been cancelled. The terms of the LTIP award align with those granted earlier on the same date in October, including a 20% scale-back in line with best practices and subject to the same performance conditions.
The award consists of 53,724 ordinary shares, and the performance conditions will determine the extent to which the award will vest. The cancellation of the previous RSU award involved 23,352 shares. Both transactions occurred outside of the trading venue and were reported in accordance with the EU Market Abuse Regulation.
These moves are part of Oxford Biomedica's ongoing strategy to incentivize and retain key management personnel through performance-based awards. The company has disclosed the details of these transactions as part of its regulatory obligations. This announcement is based on a press release statement from Oxford Biomedica plc.
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