17 April 2020
The information below is
provided pursuant to section 430(2B) Companies Act 2006.
As announced on 27
February 2020, Mark Wilson will step down as CFO and as an Executive Director
of the Company on 30 April 2020. He will remain available to the Group to
assist with the transition in the period through to 30 June 2020. The following
remuneration arrangements apply in connection with the termination of Mr
Wilson continues to be paid salary and receive benefits as an employee in the
period to 30 June 2020. In line with other Executive Committee members,
Mr Wilson has waived 20 per cent. of his base salary that he would otherwise
receive in that period.
Mr Wilson is entitled to 12 months’ notice, he will receive a payment in lieu
of notice for his unserved notice period calculated by reference to his base
salary. This will be paid in equal monthly instalments over the period to
27 February 2021 and will be reduced if Mr Wilson finds alternative employment and
may be reduced with Mr Wilson’s agreement if continuing Company Executive
Committee members extend the waiver of their base salary beyond 30 June 2020.
Wilson will not receive any bonus payment in respect of 2019 or any part of
Wilson’s award under the Aston Martin Lagonda Long-Term Incentive Plan 2018
will lapse and he will not be granted any award in respect of 2020.
respect of the shares that Mr Wilson holds pursuant to the grants he was made
prior to the IPO under the Legacy IPO LTIP, he will be treated as an
Intermediate Leaver and so retain an entitlement to a time pro-rated number of
shares. These shares will be released to him on subsequent anniversaries
of the IPO as follows: 41,927 shares released on 8 October 2020, 27,984
shares released on 8 October 2021 and 20,989 shares released on 8 October
2022. Mr Wilson has committed to hold any shares acquired through the
rights issue in respect of these shares on the same terms.
than shares that he forfeits under the Legacy IPO LTIP, Mr Wilson must retain
all those shares in the Company that he holds as at 30 June 2020 for a period
of two years until 30 June 2022.
Wilson will continue to be covered by the Company’s D&O insurance and
received a contribution towards his legal advice of £5,000.