Awards of Phantom Shares Under Long Term Incentive Programmes
TUI AG (the “Company”) announces that phantom share awards (“Awards”) were granted to Mr Horst Baier, a member of the Company’s Executive Board, as set out in the table below under the TUI AG Long Term Incentive Plan. The Awards were granted at a base price of € 14,60¹ per share on 1 October 2017:
Name of the PDMR |
Corporate Body |
Number of Phantom Shares |
Horst Baier |
Executive Board |
46233 |
The Awards granted to Mr Baier were granted in accordance with the terms of his service contract and will vest and be paid in cash subject to (i) a TSR performance target determined over a 4-year performance period; and (ii) the share price at the date of vesting.
1 Average XETRA price of TUI AG shares over the 20 trading days prior to the date of grant.