LONDON - Tracsis plc, a technology company specializing in software and hardware solutions for the transportation industry, reported transactions by two of its top executives following the vesting of shares from the company's 2021 Long Term Incentive Plan. Chris Barnes, the Chief Executive Officer, and Andy Kelly, the Chief Financial Officer, exercised and sold a portion of their shares on Monday, with the transactions taking place on the AIM market of the London Stock Exchange (LON:LSEG).
Chris Barnes exercised 8,006 vested options and sold 3,806 shares at a price of 533 pence each to cover tax liabilities associated with the vesting. After the sale, he retained 4,200 shares and increased his total shareholding in the company to 44,305 Ordinary Shares, which is equivalent to a 0.15% stake in Tracsis. The remaining 19,647 options from the Award lapsed due to the non-fulfillment of performance conditions.
Similarly, Andy Kelly exercised 5,094 vested options and sold 2,422 shares at the same price of 533 pence per share for tax obligations. He retained 2,672 shares from the vesting, bringing his total holdings to 12,996 Ordinary Shares, or 0.04% of the company's issued capital.
The transactions were carried out in accordance with Article 19 of the UK Market Abuse Regulation, which requires prompt disclosure of dealings by persons discharging managerial responsibilities. The details of these transactions were initially notified to the company on 11 December 2024.
These executive dealings often attract attention from investors as they can reflect the confidence that management has in the company's prospects. However, it's important to note that the sale of shares to cover tax liabilities is a common practice following the vesting of share options.
The news of these transactions comes directly from a press release issued by Tracsis and provides insight into the executive shareholdings and movements within the company. It's a standard regulatory requirement for companies listed on the London Stock Exchange to disclose such information to ensure transparency for investors and the market.
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