FirstGroup plc
25 September 2020
Director/PDMR
Shareholding
Grant of awards
under the FirstGroup Long-Term Incentive Plan (“LTIP”)
FirstGroup plc (the “Company”) announces that on 24 September 2020, in accordance with the rules
of the LTIP, the Company granted nil-cost options over Ordinary
Shares of £0.05 each in the capital of the Company to the following
Executive Directors:
Director
Number of shares under option
Mr Matthew Gregory (Chief
Executive)
3,164,556
Mr Ryan Mangold (Chief Financial
Officer)
1,962,274
LTIP awards will normally vest following the end of the
three-year performance period commencing on 1 April 2020, provided that participants remain
in their roles within FirstGroup and subject to the satisfaction of
performance conditions comprising:
- 80%: total shareholder return relative to that of a comparator
group consisting of substantially the same comparator companies as
in prior years (details of which are available in the Company’s
annual report and accounts for financial year ended 31 March 2020); and
- 20%: total shareholder return relative to the FTSE 250
index.
The Remuneration Committee (the “Committee”) is mindful of the
continued uncertainties presented by coronavirus and the evolving
effect on FirstGroup’s businesses, the transport sector and the
wider market as a whole. As is normal practice, the Committee will
ensure that any vesting is appropriate in the context of underlying
financial performance and the experience of the Group’s wider
stakeholders. The Committee retains the ability to apply
discretion when determining remuneration outcomes to ensure that
the value at vesting is fully reflective of the performance
delivered and the Executive Directors do not receive unjustified
windfall gains.
The awards granted to the Executive Directors are structured as
nil-cost options and may be exercised for up to 12 months following
vesting. The awards are subject to clawback and malus, and a
two-year post vesting holding period, as per the rules of the
LTIP.
The information below is provided in accordance with the
requirements of the Disclosure Guidance and Transparency Rules
(“DGTR”) 6.2.2AR:
Legal Entity Identifier: 549300DEJZCPWA4HKM93
Classification as per DGTR 6 Annex 1R: 2.2
In addition, the notification below, made in accordance with the
requirements of the EU Market Abuse Regulation, provides further
detail.
Enquiries:
Stuart Butchers, Group Head of Communications
Seema Kamboj, Deputy Company
Secretary
Faisal Tabbah, Head of Investor
Relations
Tel: +44 (0) 20 7725 3354
Notification and
public disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with them
1 |
Details
of the person discharging managerial responsibilities / person
closely associated |
a) |
Name
|
Matthew Gregory |
2 |
Reason
for the notification |
a) |
Position/status
|
Chief
Executive |
b) |
Initial notification
/Amendment |
Initial |
3 |
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor |
a) |
Name |
FirstGroup plc |
b) |
LEI |
549300DEJZCPWA4HKM93 |
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
Identification code |
Ordinary shares of 5p
each
GB0003452173 |
b) |
Nature of the
transaction
|
Grant of nil-cost
option to acquire shares under the LTIP
|
c) |
Price(s) and
volume(s)
|
Price(s) |
Volume(s) |
Nil
|
3,164,556
|
|
d) |
Aggregated
information
- Price |
£0.00 |
e) |
Date of the
transaction |
24 September 2020 |
f) |
Place of the
transaction |
London Stock Exchange (XLON) |
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 |
1 |
Details
of the person discharging managerial responsibilities / person
closely associated |
a) |
Name
|
Ryan Mangold |
2 |
Reason for
the notification |
a) |
Position/status
|
Chief
Financial Officer |
b) |
Initial notification
/Amendment |
Initial |
3 |
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor |
a) |
Name |
FirstGroup plc |
b) |
LEI |
549300DEJZCPWA4HKM93 |
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
Identification code |
Ordinary shares of 5p
each
GB0003452173 |
b) |
Nature of the
transaction
|
Grant of nil-cost
option to acquire shares under the LTIP
|
c) |
Price(s) and
volume(s)
|
Price(s) |
Volume(s) |
Nil
|
1,962,274
|
|
d) |
Aggregated
information
- Price |
£0.00 |
e) |
Date of the
transaction |
24 September2020 |
f) |
Place of the
transaction |
London Stock Exchange (XLON) |
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 |