Keller Group
plc
Notification and
public disclosure of transactions by Persons Discharging Managerial
Responsibilities (“PDMRs”)
Awards made under
Keller Group plc’s Long-Term Incentive Plan (“LTIP”)
On 15 March 2021 Keller Group plc
(the “Company”) granted:
- Deferred bonus awards totalling 67,607 ordinary shares of 10p
each in Keller Group plc (“Ordinary Shares”); and
- Performance share awards totalling 427,074 Ordinary Shares
as awarded by the Remuneration Committee under the terms of the
LTIP to the PDMRs listed in the tables below.
The Company received notification from PDMRs on 17 March 2021 of the granting of deferred bonus
awards and performance share awards under the LTIP in respect of
the following number of Ordinary Shares.
Deferred Bonus Award – in respect of
the year ended 31 December 2020
Executive Directors are subject to a deferral of 25% of any
annual bonus payment into Ordinary Shares for a period of two
years. The deferred award retains eligibility for dividend
equivalents from the date of grant until the vesting date. Malus
and clawback apply.
Name |
Position |
No.
of Ordinary Shares awarded1/3
|
Total Deferred Bonus Awards outstanding3 |
Michael Speakman |
Chief Executive
Officer |
23,530 |
28,310 |
David Burke |
Chief Financial
Officer |
3,522 |
3,522 |
Other PDMRs are subject to a deferral into Ordinary Shares of
any annual bonus payment in excess of 100% of salary. The deferral
is also for a period of two years, with the deferred award
retaining eligibility for dividend equivalents from the date of
grant until the vesting date. Malus and clawback apply.
Name |
Position |
No.
of Ordinary Shares awarded1/3
|
Total Deferred Bonus Awards outstanding3 |
Eric Drooff |
Chief Operating Officer
of North America |
3,718 |
3,718 |
James Hind |
President of North
America |
19,230 |
24,078 |
Venu Raju |
Engineering and
Operations Director |
14,058 |
17,471 |
Peter Wyton |
President of APAC |
3,549 |
3,549 |
Performance Share Awards – for the
period 2021/23
Name |
Position |
No. of Ordinary
Shares awarded 1/2/3 |
Total Performance
Share Awards outstanding3 |
Michael Speakman |
Chief Executive Officer |
102,858 |
335,995 |
David Burke |
Chief Financial Officer |
56,273 |
56,273 |
Graeme Cook |
Group Human Resources Director |
23,770 |
77,721 |
Jim De Waele |
President of Europe |
27,011 |
75,958 |
Eric Drooff |
Chief Operating Officer of North
America |
28,879 |
105,465 |
James Hind |
President of North America |
61,247 |
202,904 |
Kerry Porritt |
Group Company Secretary and Legal
Advisor |
20,709 |
63,719 |
John Raine |
Group HSEQ Director |
20,409 |
67,089 |
Venu Raju |
Engineering and Operations
Director |
35,847 |
117,278 |
Katrina Roche |
Chief Information Officer |
22,059 |
22,059 |
Peter Wyton |
President of APAC |
28,012 |
85,567 |
The measures selected by the Remuneration Committee together
with the associated targets are shown on the table below. The
weightings are all set at 25% in order to provide balance between
measures and materiality to each of them individually.
Measure |
Weighting |
Vesting Schedule |
% of
award that will vest |
0% |
25% |
100% |
Operating Profit Margin |
25% |
Below 5.2% |
5.2% |
6.2% |
Cumulative EPS |
25% |
Below 245p |
245p |
310p |
ROCE |
25% |
Below 12% |
12% |
18% |
Relative TSR |
25% |
Below median |
Median |
Upper quartile |
The Performance Share Award performance conditions are measured
over a three year period ending on 31
December 2023, except for the Operating Profit Margin which
is measured in year three. The Performance Share Award performance
conditions are expected to vest in March
2024. Executive Directors are subject to a further two year
holding period. Malus and clawback apply.
The above transactions took place in the United Kingdom, with a grant date of
15 March 2021 and the PDMRs being
notified on 17 March 2021.
K A A Porritt
Group Company Secretary and Legal Advisor
17 March 2021
www.keller.com
1 The price used to calculate the maximum number of ordinary
shares under the Deferred Bonus Award and Performance Share Award
was 833p, being the average closing price on 10, 11 and
12 March 2021 of the Company's shares
on the main market of the London Stock Exchange.
2 The amounts shown above represent the maximum possible number
of Ordinary Shares that may be granted to the above named
participants under the 2021 Performance Share Award.
3 The awards above exclude notional dividends.
LEI number:
549300QO4MBL43UHSN10
Classification:
2.2 Inside information