b'Annual Report & Accounts 2022 Mercia Asset Management PLC 67Share optionsThe number of options over Mercia Asset Managements Ordinary shares, held by Directors as at 31 March 2022, are set out below:GovernanceNumber of optionsAs at 31 MarchAs at 31 March 2022 2021 Date of grant Type of interest Exercise price Period of exerciseExecutive DirectorsDr Mark Payton400,000 28 Aug 2018 CSOP 30.80p 28 Aug 2021 to 27 Aug 2028 1946,502 946,502 28 Jan 2020 CSOP 24.30p 28 Jan 2023 to 27 Jan 2030 21,880,000 1,880,000 21 Aug 2020 CSOP 21.50p 21 Aug 2023 to 20 Aug 2030 32,596,4309 Jul 2021 PSP 0.001p 9 July 2024 4Martin Glanfield400,000 28 Aug 2018 CSOP 30.80p 28 Aug 2021 to 27 Aug 2028 1823,045 823,045 28 Jan 2020 CSOP 24.30p 28 Jan 2023 to 27 Jan 2030 21,600,000 1,600,000 21 Aug 2020 CSOP 21.50p 21 Aug 2023 to 20 Aug 2030 32,113,6529 Jul 2021 PSP 0.001p 9 July 2024 4Julian Viggars1,200,000 28 Aug 2018 CSOP 30.80p 28 Aug 2021 to 27 Aug 2028 1823,045 823,045 28 Jan 2020 CSOP 24.30p 28 Jan 2023 to 27 Jan 2030 21,600,000 1,600,000 21 Aug 2020 CSOP 21.50p 21 Aug 2023 to 20 Aug 2030 32,113,6529 Jul 2021 PSP 0.001p 9 July 2024 41 The options, exercisable as to one-third from 28 August 2021, one-third from 28 August 2022 and the remaining one-third from 28 August 2023, lapsed during the year ended 31 March 20222The options will be exercisable as to one-third from 28 January 2023, one-third from 28 January 2024 and the remaining one-third from 28 January 2025, if theperformance condition is met3The options will be exercisable as to one-third from 21 August 2023, one-third from 21 August 2024 and the remaining one-third from 21 August 2025, if the performancecondition is met 4The PSP options will vest on 9 July 2024 upon satisfaction of the performance condition. If the performance condition is met, the shares issued and allotted are subject to a two-year lock-in period from 9 July 2024 to 8 July 2026Directors share interestsThe interests of the Directors and their connected persons in the Ordinary shares of Mercia Asset Management are set out below:Number ofNumber of OrdinaryOrdinary shares as at shares as at31 March 31 March 2022 2021Ian Metcalfe 1 292,609 242,609Dr Mark Payton 1, 2 7,021,604 6,851,366Martin Glanfield 1, 2 1,466,887 1,044,305Julian Viggars 1 846,385 686,385Ray Chamberlain 3 65,194,766 65,194,766Dr Jonathan PellCaroline Plumb OBE 40,000 40,000Diane Seymour-Williams 250,000 250,0001In July 2021, Ian Metcalfe, Dr Mark Payton, Martin Glanfield and Julian Viggars each increased their shareholding in Mercia Asset Management PLC by purchasing 50,000shares, 157,445 shares, 257,328 shares and 150,936 shares respectively. A person closely associated with Martin Glanfield purchased 125,784 shares. A person closely associated with Julian Viggars increased their shareholding in Mercia Asset Management PLC by purchasing 9,064 shares2In January 2022, a person closely associated with Dr Mark Payton, and Martin Glanfield, increased their shareholding in Mercia Asset Management PLC by purchasing12,793 shares and 39,470 shares respectively3 Ray Chamberlain is indirectly interested in 65,194,766 Ordinary shares via the Forward Innovation Fund (39,272,336 Ordinary shares), Croftdawn Limited (3,994,786 Ordinary shares), Mercia Growth Nominees Limited (126,436 Ordinary shares) and Forward Nominees Limited (21,801,208 Ordinary shares as nominee for certain members of the Chamberlain family and close associates, including Ray Chamberlain)Ian R. MetcalfeChair of the Remuneration Committee4 July 2022'