Employee Share Option Scheme
At the year end date, 19,722 (2023: 28,047) options on Ordinary Shares were outstanding. Of these, 7,402 (2023: 7,727) options have an exercise price of £20.00 per share, whilst 12,320 (2023: 20,320) options have an exercise price of £87.74 per share.
Of these 19,722 outstanding options:
- 537 had vested during the year to 31st March 2021
- 7,185 had vested in the year to 31st March 2023
- 400 had vested in the year to 31st March 2024
- 2,500 will vest in the year to 31st March 2025
- 9,100 will vest in the year to 31st March 2026
Nil (2023: 11,000) new options on Ordinary Shares were granted during the year at an exercise price of £87.74 per share. During the year, Nil (2023: 4,449) options on Ordinary Shares were exercised at a price of £20.00 per share and 7,981 (2023: Nil) options on Ordinary Shares were exercised at a price of £84.74 per share, whilst 1,325 (2023: 3,381) options lapsed during the year. Of the options exercised during the year, the company bought back 3,000 (2023: 1,920) of these Ordinary Shares which were then cancelled.
Treasury Shares
During the year, one employee who exercised share options was transferred 981 shares from treasury. The remaining treasury shares were cancelled during the year.