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    TUI1   DE000TUAG000

TUI AG

(TUI1)
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TUI AG : Allocation of phantom shares under TUI AG's Long Term Incentive Plans

10/06/2021 | 11:25am EST

TUI AG (TUI) TUI AG: Allocation of phantom shares under TUI AG's Long Term Incentive Plans 06-Oct-2021 / 17:24 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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TUI AG

Regulatory Announcements

Allocation of phantom shares under TUI AG's Long Term Incentive Plans

TUI AG (the "Company") announces that phantom shares ("Phantom Shares") were allocated to the members of the Executive Board set out in the table below under TUI AG's Long Term Incentive Plan.

The Phantom Shares were automatically allocated in accordance with the terms of the individual's respective service agreements and the vesting and payment of the Phantom Shares is conditional on (i) an EPS performance target, determined over a 4-year performance period; (ii) the share price at the date of vesting; and (iii) the remuneration restrictions resulting from the second framework agreement on the granting of stabilization measures ("Framework Agreement II") concluded by TUI AG with the Economic Stabilization Fund ("Fund") on 4 January 2021. Upon expiry of the 4-year performance period, the Supervisory Board will determine whether the conditions have been satisfied and a possible claim to a payment in respect of the Phantom Shares arises.

The Framework Agreement II stipulates that the Executive Board members (including any Group remuneration in the event of dual employment, including at a Group company that is not a material Group company) may not be granted (and thus may not be constituted) bonuses, other variable or comparable remuneration components as long as the Company makes use of the overall stabilization measures of the Fund.

The Phantom Shares were allocated on 1 October 2021 at a base price of EUR 3.62 per share. This share price equals the average XETRA price of TUI AG shares over a period of 20 trading days before the date of allocation.

Name of the PDMR  Corporate Body  Number of allocated Phantom Shares 
Friedrich Joussen Executive Board 505,525 
David Burling     Executive Board 254,144 
Sebastian Ebel    Executive Board 254,144 
Peter Krueger     Executive Board 211,326 
Sybille Reiß      Executive Board 211,326 
Frank Rosenberger Executive Board 211,326 
Dr Elke Eller1)   Executive Board 9,346 1. Dr Elke Eller's appointment as a member of the Executive Board and as director representing the employeesof TUI AG ended with effect as of midnight on 30 June 2021, while her service agreement continued until its regulartermination date, which is 14 October 2021. 

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ISIN:           DE000TUAG000 
Category Code:  DSH 
TIDM:           TUI 
LEI Code:       529900SL2WSPV293B552 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:   123754 
EQS News ID:    1238621 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------
 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1238621&application_name=news

(END) Dow Jones Newswires

October 06, 2021 11:24 ET (15:24 GMT)

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Friedrich Peter Joussen Chief Executive Officer
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