LivaNova DTR 3 Announcement (Correction)
27 October 2015
LIVANOVA PLC
On 23 October 2015, LivaNova PLC (“LivaNova”) announced that it had granted certain persons discharging managerial responsibilities (“PDMRs”) with stock appreciation rights (“SARs”) under the LivaNova 2015 Incentive Plan on 19 October 2015 (the “Relevant Date”) pursuant to Disclosure and Transparency Rule 3.1.4R. Due to a calculation error, the number of SARs shown as being granted to each of the relevant PDMRs in the announcement was incorrect. The number of SARs granted to each of the relevant PDMRs on the Relevant Date, and the maximum number of LivaNova ordinary shares (the “Shares”) that it will entitle the relevant PDMRs to receive, are as follows:
Name |
Number of SARs |
Maximum Number of Shares that may be issued under the SARs
|
André-Michel Ballester |
166,703 |
166,703 |
Michel Darnaud |
59,435 |
59,435 |
Stefano Di Lullo |
59,435 |
59,435 |
Rohan Hoare |
59,435 |
59,435 |
Jacques Gutedel |
59,435 |
59,435 |
Edward Andrle |
59,435 |
59,435 |
Brian Sheridan |
59,435 |
59,435 |
Pritpal Shinmar |
11,792 |
11,792 |
David Wise |
59,435 |
59,435 |
Vivid Sehgal |
59,435 |
59,435 |
Demetrio Mauro |
23,585 |
23,585 |
The SARs will vest in equal instalments of 50% of the total number of Shares subject to the SARs on each of the first two anniversaries of the Relevant Date, and the PDMRs will have 3 years from the relevant vesting date to exercise their SARs. Payment of the SARs shall be in cash, shares (based on the fair market value as of the date the SAR is exercised), or a combination of both, as determined by the administrator of the LivaNova 2015 Incentive Plan.
In order to satisfy the tax withholding obligations of LivaNova and its subsidiaries in respect of the future issuance of Shares, LivaNova anticipates that a number of Shares otherwise issuable to the PDMRs may be withheld by LivaNova at the relevant time.
This announcement is made pursuant to Disclosure and Transparency Rule 3.1.4R.
About LivaNova
LivaNova PLC, headquartered in London, UK, is a global medical technology company formed by the merger of Sorin S.p.A, a leader in the treatment of cardiovascular diseases, and Cyberonics Inc., a medical device company with core expertise in neuromodulation. LivaNova transforms medical innovation into meaningful solutions for the benefit of patients, healthcare professionals, and healthcare systems. The company employs approximately 4,500 employees worldwide. With a presence in more than 100 countries, LivaNova operates as three business units: Cardiac Rhythm Management, Cardiac Surgery, and Neuromodulation, with operating headquarters in Clamart (France), Mirandola (Italy) and Houston (U.S.A.), respectively.
LivaNova is listed on NASDAQ and listed on the Official List of the UK’s Financial Conduct Authority and traded on London Stock Exchange (LSE) under the ticker symbol “LIVN”.
For more information, please visit www.livanova.com, or contact:
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