Next PLC Director/PDMR Shareholding (8900Q)
September 15 2017 - 4:57AM
UK Regulatory
TIDMNXT
RNS Number : 8900Q
Next PLC
15 September 2017
Next plc ("Next" and the "Company")
For immediate release
Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility
The following awards were granted to executive directors on 15
September 2017 under the Next Long Term Incentive Plan (the
"LTIP"):
Maximum No.
of Shares
------------------------ ------------
Lord Wolfson of Aspley
Guise 18,897
------------------------ ------------
Amanda James 10,169
------------------------ ------------
Michael Law 10,169
------------------------ ------------
Jane Shields 10,169
------------------------ ------------
Under the terms of the LTIP the award comprises a conditional
award of shares on the following terms:
-- the award will vest in 2020 following the third anniversary
of the date of grant subject to performance targets and continued
employment in the Next Group;
-- a variable percentage of the maximum number of shares above
can vest, depending on the relative Total Shareholder Return of
NEXT over a three year period against a comparator group
(comprising 20 other UK listed retail companies selected by the
Remuneration Committee as being comparable with NEXT in size or
nature of their business);
-- for relative performance against the comparator group the percentage vesting will be
Relative performance Percentage vesting
Below median 0%
Median 20%
Upper quintile 100%
-- before any of the awards vest, the Committee must have regard
to the performance of the Company in the light of underlying
economic and other circumstances, including EPS performance of the
Company and of other UK retailers over the period;
-- to the extent that the performance condition is not met, the
award will lapse completely; and
-- any vesting of these awards granted to executive directors
will be settled in shares and, after payment of tax, the net shares
received should be retained for a period of two further years.
LTIP awards are made twice a year. The maximum number of shares
shown above is 100% of each director's base salary at the date of
each grant, divided by NEXT's average share price over the three
months prior to the start of the performance period.
The following notification made under article 19.1 of the Market
Abuse Regulation ("MAR") related to awards granted to executive
directors on 15 September 2017 under the LTIP. This announcement is
made in accordance with Article 19.3 of MAR.
1. Details of PDMR / person closely associated
with them ("PCA")
--- -------------------------------------------------------------
a) Name 1. Lord Wolfson of Aspley Guise
2. Amanda James
3. Michael Law
4. Jane Shields
--- --------------------- --------------------------------------
b) Position 1. Chief Executive
/ status 2. Group Finance Director
3. Group Operations Director
4. Group Sales and Marketing
Director
--- --------------------- --------------------------------------
c) Initial notification Initial notification
/ amendment
--- --------------------- --------------------------------------
2. 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 Conditional award of Ordinary
of the financial shares of GBP0.10 each
instrument GB0032089863
--- --------------------- --------------------------------------
b) Nature of Conditional award of shares
the transaction granted under the LTIP. Maximum
number of Shares as follows:
1. Lord Wolfson of Aspley Guise
- 18,897
2. Amanda James - 10,169
3. Michael Law - 10,169
4. Jane Shields - 10,169
--- --------------------- --------------------------------------
c) Price(s) N/A
and volume(s)
--- --------------------- --------------------------------------
d) Aggregated N/A
information
--- --------------------- --------------------------------------
e) Date of the 15 September 2017
transaction
--- --------------------- --------------------------------------
f) Place of N/A
transaction
--- --------------------- --------------------------------------
Seonna Anderson
Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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