TIDMAML
RNS Number : 9515B
Aston Martin Lagonda Global Hld PLC
15 June 2021
15 June 2021
Aston Martin Lagonda Global Holdings plc
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
Aston Martin Lagonda Global Holdings plc (the "Company")
announces the following changes in the interests of Directors in
the Ordinary Shares in the Company ("Shares"), which took place on
14 June 2021.
Long-term Incentive Plan awards
In accordance with the rules of the Aston Martin Lagonda
Long-Term Incentive Plan 2018 ("LTIP"), the Directors named below
were granted nil-cost options over Shares as follows:
-- Tobias Moers (CEO) - 126,865 shares (300% of salary)
-- Kenneth Gregor (CFO) - 42,288 shares (200% of salary)
The LTIP awards are the 2021 grant and are subject to the
performance conditions, performance periods, vesting periods and
malus and clawback provisions set out below, in-line with the
Remuneration Policy approved in 2019, and as disclosed in the 2020
Directors' Remuneration Report.
2021 LTIP performance measures and targets
2021 LTIP targets Vesting*
(as a % of maximum)
-------------------- ---------- --------------------
Adjusted EBITDA Threshold 300 20%
(GBPm in FY23)
(80% of award)
Stretch 425 80%
Maximum 500 100%
------------------------------- -------------------- --------------------
Relative TSR** Threshold Rank 6(th) (median) 20%
(vs. luxury peers)
(20% of award)
Rank 3(rd) or above
Maximum (80(th) percentile) 100%
------------------------------- -------------------- --------------------
* Vesting will be on a straight-line basis between each of
threshold and stretch, and stretch and maximum for the EBITDA
element and threshold and maximum for the TSR element.
** TSR performance will be measured on a ranked basis against
the following luxury companies: Burberry, Capri Holdings, Compagnie
Financiere Richemont, Ferrari, Hermes International, Kering, LVMH,
Moncler, Prada and Ralph Lauren.
-- The Remuneration Committee retains discretion to adjust the
vesting levels to ensure they reflect underlying business
performance and any other relevant factors to ensure that the value
at vesting is fully reflective of the performance delivered and
executives do not receive unjustified windfall gains.
Performance period
-- The period over which the EBITDA performance condition will
be measured is from 1 January 2021 to 31 December 2023 (three
financial years).
-- The period over which the TSR performance condition will be
measured is from 14 June 2021 to 13 June 2024 (three years from
grant date).
Vesting period
-- Subject to performance, the element of awards subject to
EBITDA performance will vest following the announcement of results
for 2023 (early March 2024).
-- Subject to performance, the element of awards subject to
relative TSR performance will vest three years from grant,
following the Remuneration Committee's determination of the
performance outcome.
-- The CEO and CFO will be required to hold at least 75% of any
shares that vest (net of tax) until they have met their
shareholding guidelines under the shareholding policy.
Deferred Share Bonus Plan awards
In accordance with the rules of the Aston Martin Lagonda
Deferred Share Bonus Plan 2018 ("DBSP"), the Directors named below
were granted nil-cost options over Shares as follows:
-- Tobias Moers (CEO) - 1,866 shares
-- Kenneth Gregor (CFO) - 884 shares
The DBSP awards are in relation to the 2020 annual bonus which,
as disclosed in the 2020 Directors' Remuneration Report, was to be
delivered 50% in cash and 50% in deferred shares. The number of
shares granted reflects the net bonus amount (post tax and NI).
Shares under the DBSP awards are deferred for a period of 3 years
from grant and will be released, subject to continued employment,
on 14 June 2024.
Malus and Clawback:
-- Malus and clawback provisions will be operated at the
discretion of the Remuneration Committee in respect of awards
granted under the LTIP and DBSP where it considers that there are
exceptional circumstances. Such exceptional circumstances may
include serious reputational damage, a failure of risk management,
an error in available financial information, which led to the award
being greater than it would otherwise have been or personal
misconduct.
-- Clawback may be applied for a period of up to three years for any LTIP and DBSP awards.
Enquiries:
Investors and Analysts
Charlotte Cowley, +44 (0)7771 976764
Director of Investor Relations charlotte.cowley@astonmartin.com
Media
Kevin Watters, +44 (0)7764 386683
Director of Communications kevin.watters@astonmartin.com
Grace Barnie, +44 (0)7880 903490
Corporate Communications Manager grace.barnie@astonmartin.com
Tulchan Communications
Harry Cameron and Simon Pilkington +44 (0)20 73534200
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Tobias Moers
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 Aston Martin Lagonda Global Holdings plc
b) LEI 213800167WOVOK5ZC776
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 instrument, type of instrument Ordinary Shares (ISIN: GB00BN7CG237)
Identification code
b) Nature of the transaction Grant of 2021 LTIP awards
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0 126,865
d) Aggregated information
- Aggregated volume 126,865
- Price GBP0
e) Date of the transaction 14 June 2021
f) Place of the transaction Outside a trading venue
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Kenneth Gregor
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 Aston Martin Lagonda Global Holdings plc
b) LEI 213800167WOVOK5ZC776
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 instrument, type of instrument Ordinary Shares (ISIN: GB00BN7CG237)
Identification code
b) Nature of the transaction Grant of 2021 LTIP awards
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0 42,288
d) Aggregated information
- Aggregated volume 42,288
- Price GBP0
e) Date of the transaction 14 June 2021
f) Place of the transaction Outside a trading venue
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Tobias Moers
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 Aston Martin Lagonda Global Holdings plc
b) LEI 213800167WOVOK5ZC776
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 instrument, type of instrument Ordinary Shares (ISIN: GB00BN7CG237)
Identification code
b) Nature of the transaction Grant of 2020 DBSP awards
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0 1,866
d) Aggregated information
- Aggregated volume 1,866
- Price GBP0
e) Date of the transaction 14 June 2021
f) Place of the transaction Outside a trading venue
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Kenneth Gregor
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 Aston Martin Lagonda Global Holdings plc
b) LEI 213800167WOVOK5ZC776
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 instrument, type of instrument Ordinary Shares (ISIN: GB00BN7CG237)
Identification code
b) Nature of the transaction Grant of 2020 DBSP awards
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0 884
d) Aggregated information
- Aggregated volume 884
- Price GBP0
e) Date of the transaction 14 June 2021
f) Place of the transaction Outside a trading venue
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHBGGDLUGBDGBU
(END) Dow Jones Newswires
June 15, 2021 06:06 ET (10:06 GMT)
Aston Martin Lagonda Glo... (LSE:AML)
Historical Stock Chart
From Apr 2024 to May 2024
Aston Martin Lagonda Glo... (LSE:AML)
Historical Stock Chart
From May 2023 to May 2024