Grainger PLC Director/PDMR Shareholding (5205W)
12 Décembre 2023 - 1:44PM
UK Regulatory
TIDMGRI
RNS Number : 5205W
Grainger PLC
12 December 2023
GRAINGER PLC
("GRAINGER" OR THE "COMPANY")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
GRANT OF OPTIONS UNDER THE GRAINGER PLC 2017 LONG TERM INCENTIVE
PLAN
The Company announces that it has made the following grants of
nil cost share options ("Options") over ordinary shares of 5p each
in the capital of the Company ("Shares") pursuant to the 2017 Long
Term Incentive Plan ("LTIP") on 11 December 2023.
Grant of Options
On 11 December 2023, Grainger granted Options over a total of
929,064 Shares to its Executive Directors and Persons Discharging
Managerial Responsibilities ("PDMRs") of the Company (as specified
in the table below).
Director/ Position No. of shares under
PDMR Option
Helen Gordon Chief Executive Officer (Director) 423,954
------------------------------------ --------------------
Rob Hudson Chief Financial Officer (Director) 292,183
------------------------------------ --------------------
Director of Land and Development
Michael Keaveney (PDMR) 114,068
------------------------------------ --------------------
Director of Operations and
Eliza Pattinson Asset Management (PDMR) 98,859
------------------------------------ --------------------
Options will generally vest and become exercisable three years
from the date of grant, subject to continued employment. Vesting of
the Options is subject to performance conditions relating to the
following measures:
- (30%) Total property income return measured as annual average like for like rental growth;
- (30%) Relative Total Shareholder Return (versus a bespoke group of real estate peers);
- (30%) Secured PRS Investment; and
- (10%) Reduction in operational and embodied carbon emissions.
The performance conditions are each measured across the 2024,
2025 and 2026 financial years.
The Secured PRS Investment target range assumes funding solely
from our ongoing asset recycling programme, operational cash flow
generation and with LTV in mind. To the extent that funding is
arranged from other sources or actual disposals vary against plan,
the Committee may exclude investments and/or adjust the target
range to ensure that targets remain at least as stretching as the
original ones.
Further details of the performance conditions are set out in the
2023 Annual Report on page 110.
A holding period of two years from date of vesting is also
applicable to the Options granted to the Executive Directors.
The notification below, made in accordance with the requirements
of the UK Market Abuse Regulation, provides further detail.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Helen Gordon
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Grainger plc
b) LEI 2138007CEIRKZMNI2979
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a) Description of the financial Ordinary Shares of GBP0.05 each
instrument, type of instrument
b) Identification code ISIN: GB00B04V1276
c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger
plc 2017 Long Term
Incentive Plan
d) Price(s) and volume(s) Price(s) Volume(s)
1. GBPnil 1. 423,954
e) Aggregated information
- Aggregated volume N/A
- Price
f) Date of the transaction 11 December 2023
g) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Rob Hudson
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Grainger plc
b) LEI 2138007CEIRKZMNI2979
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a) Description of the financial Ordinary Shares of GBP0.05 each
instrument, type of instrument
b) Identification code ISIN: GB00B04V1276
c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger
plc 2017 Long Term
Incentive Plan
d) Price(s) and volume(s) Price(s) Volume(s)
1. GBPnil 1. 292,183
e) Aggregated information
- Aggregated volume N/A
- Price
f) Date of the transaction 11 December 2023
g) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Michael Keaveney
2 Reason for the notification
a) Position/status Director of Land and Development (PDMR)
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Grainger plc
b) LEI 2138007CEIRKZMNI2979
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a) Description of the financial Ordinary Shares of GBP0.05 each
instrument, type of instrument
b) Identification code ISIN: GB00B04V1276
c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger
plc 2017 Long Term
Incentive Plan
d) Price(s) and volume(s) Price(s) Volume(s)
1. GBPnil 1. 114,068
e) Aggregated information
- Aggregated volume N/A
- Price
f) Date of the transaction 11 December 2023
g) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Eliza Pattinson
2 Reason for the notification
a) Position/status Director of Operations and Asset Management (PDMR)
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Grainger plc
b) LEI 2138007CEIRKZMNI2979
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a) Description of the financial Ordinary Shares of GBP0.05 each
instrument, type of instrument
b) Identification code ISIN: GB00B04V1276
c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger
plc 2017 Long Term
Incentive Plan
d) Price(s) and volume(s) Price(s) Volume(s)
1. GBPnil 1. 98,859
e) Aggregated information
- Aggregated volume N/A
- Price
f) Date of the transaction 11 December 2023
g) Place of the transaction Outside a trading venue
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END
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