Air Partner - Stock Options all round!
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Air Partner - Stock Options all round!
Good to see in the current environment that stock options are still being given away at Air Partner.
My favourite part - no performance criteria at all. What a cool place to be.
Air Partner PLC announces that it has granted share options under the Air Partner PLC Company Share Option Plan 2003 as follows:
To David Savile, Chief Executive Officer, 40,000 ordinary shares of 5p each have been granted at a market price of 545p.
To Steph White, Chief Finance Officer, 40,000 ordinary shares of 5p each have been granted at a market price of 545p.
To Mark Briffa, Chief Operating Officer, 40,000 ordinary shares of 5p each have been granted at a market price of 545p.
To Justin Barber, Managing Director Air Partner Private Jets, 10,000 ordinary shares of 5p each have been granted at a market price of 545p.
The share options were awarded on 27th November 2008 and have no performance criteria.
17th February 2009
Half-year results on 25th March - should be interesting.
On the options above, how does it work?
Are they given when the share price hits 545p?
My favourite part - no performance criteria at all. What a cool place to be.
Air Partner PLC announces that it has granted share options under the Air Partner PLC Company Share Option Plan 2003 as follows:
To David Savile, Chief Executive Officer, 40,000 ordinary shares of 5p each have been granted at a market price of 545p.
To Steph White, Chief Finance Officer, 40,000 ordinary shares of 5p each have been granted at a market price of 545p.
To Mark Briffa, Chief Operating Officer, 40,000 ordinary shares of 5p each have been granted at a market price of 545p.
To Justin Barber, Managing Director Air Partner Private Jets, 10,000 ordinary shares of 5p each have been granted at a market price of 545p.
The share options were awarded on 27th November 2008 and have no performance criteria.
17th February 2009
Half-year results on 25th March - should be interesting.
On the options above, how does it work?
Are they given when the share price hits 545p?
Join Date: Jan 2004
Location: UK
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According to AIN
Quote
Air Partner: ‘Shockwaves’ Have Hit Bizav Industry
Half-year financial results published yesterday by charter broker Air Partner confirm the widespread perception that the business aircraft charter sector has taken a big hit from the global financial crisis. The UK-based group’s total sales (also including passenger airliner and freight charters) for the six-month period ending on Jan. 31, 2009, were down by 2 percent at £107.1 million ($155.3 million), while profits fell by 17 percent to £3.2 million ($4.6 million). However, at the same time, sales by Air Partner’s “Private Jet” division dropped by 6.7 percent to £24.7 million ($35.8 million) and it sustained a loss of £153,000 ($221,850) after recording a profit of £1.03 million ($1.49 million) in the same period last year.
End quote:
It is going to be a very tough time for many operators / pilots / investors around the world and only by addressing ALL issues and implications can the O/P/I stand a chance of surviving.
Quote
Air Partner: ‘Shockwaves’ Have Hit Bizav Industry
Half-year financial results published yesterday by charter broker Air Partner confirm the widespread perception that the business aircraft charter sector has taken a big hit from the global financial crisis. The UK-based group’s total sales (also including passenger airliner and freight charters) for the six-month period ending on Jan. 31, 2009, were down by 2 percent at £107.1 million ($155.3 million), while profits fell by 17 percent to £3.2 million ($4.6 million). However, at the same time, sales by Air Partner’s “Private Jet” division dropped by 6.7 percent to £24.7 million ($35.8 million) and it sustained a loss of £153,000 ($221,850) after recording a profit of £1.03 million ($1.49 million) in the same period last year.
End quote:
It is going to be a very tough time for many operators / pilots / investors around the world and only by addressing ALL issues and implications can the O/P/I stand a chance of surviving.
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stock options in the normal sense work like this:
You are 'given' x amount of stock at the given rate. (market rate at the time of being given them)
So lets say that you get 1000 stock at 10 pounds.
If the stock price climbs, to say 11 pounds, you make 1 pound profit per share ( minus capital gains tax.)
If it drops, you are 'under water', and they are therefore not worth cashing in. You just leave them until they are worth more than you were granted them for.
Basically it is a good incentive to work hard to try to get the stock value up, as they are worthless to you until the price rises above the grant price.
You cannot cash them until they have 'matured, usually 1/3 per year, so you can cash one third after one year etc, after 3 years you can cash them all.
After 10 years they go back to the company if not cashed.
And important to remember you are taxed on any profit.
In the booms, they are great, in the dips they are almost worthless.
As far as I know thats how they work. Does that help?
You are 'given' x amount of stock at the given rate. (market rate at the time of being given them)
So lets say that you get 1000 stock at 10 pounds.
If the stock price climbs, to say 11 pounds, you make 1 pound profit per share ( minus capital gains tax.)
If it drops, you are 'under water', and they are therefore not worth cashing in. You just leave them until they are worth more than you were granted them for.
Basically it is a good incentive to work hard to try to get the stock value up, as they are worthless to you until the price rises above the grant price.
You cannot cash them until they have 'matured, usually 1/3 per year, so you can cash one third after one year etc, after 3 years you can cash them all.
After 10 years they go back to the company if not cashed.
And important to remember you are taxed on any profit.
In the booms, they are great, in the dips they are almost worthless.
As far as I know thats how they work. Does that help?
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Air Partner stock price.
Or to put it into context here, the options were granted at 545p, and today (27/03/09), the shares are at 400p. Therefore there is plenty of incentive for the directors to work hard to achieve an increase in profitability, and thus the stock price, so that they get any value from their options.
