TIDMPOLR
RNS Number : 9417F
Polar Capital Holdings PLC
13 July 2023
13 July 2022
Polar Capital Holdings plc ("Polar Capital" or the
"Company")
Notification of Transactions by Persons Discharging Managerial
Responsibilities (PDMRs)
Long Term Incentive Plan Awards - Performance Conditions
On 10 July 2020 Gavin Rochussen, Alexander Black and Iain Evans
were granted awards under the Long Term Incentive Plan ("LTIP"), as
part of the Company's Equity Incentive Plan. Details of the
original grant are contained in RNS No. 7115S.
The terms of the LTIP award provide for vesting on the third
anniversary of grant. The vesting of the awards was subject to
continued employment and performance targets. Upon vesting the
shares would be released in equal tranches on the third, fourth and
fifth anniversaries of grant. The third anniversary of this award
was on 10 July 2023.
The performance targets have been considered by the Remuneration
Committee, and it was determined that a 62% vesting of the 2020
LTIP Award should be made. Full details of the performance targets
of the Award are available in the Remuneration Committee Report of
the 2023 Annual Report and Accounts.
Long Term Incentive Plan Awards - No Performance Conditions
On 10 July 2020, Samir Ayub and Nicholas Farren were granted
conditional awards as part of the Long Term Incentive Plan
("LTIP"), as part of the Company's Equity Incentive Plan, details
of which are contained in RNS No. 7117S.
The terms of the LTIP award provide for vesting on the third
anniversary of grant. The vesting of the awards was subject to
continued employment. Upon vesting the shares would be released in
equal tranches on the third, fourth and fifth anniversaries of
grant. The third anniversary of this award was also on 10 July
2023.
On the vesting date there will be a sale of sufficient shares to
cover tax liabilities and the remaining shares will be retained
under the holding period. These awards have been satisfied by the
release of shares from the Employee Benefit Trust to the
participants, who have established nominee accounts with the EBT
for the retention of the shares during the holding period.
The following table provides details of the vesting and release
schedule of the awards:
Name Title V esting 2020 Shares sold to Shares Shares Shares
LTIP cover Tax & released on released on 10 released on 10
NIC 10 July 2023 July 2024 July 2025
(1(st) (2(nd) Release (3(rd) Release
Release Date) Date) Date)
Chief Executive
Gavin Rochussen Officer 131,155 71,598 19,852 19,852 19,853
---------------- --------------- --------------- -------------- --------------- ---------------
Finance
Samir Ayub Director 24,566 13,411 3,718 3,718 3,719
---------------- --------------- --------------- -------------- --------------- ---------------
Chief
Investment
Alexander Black Officer 65,557 35,788 9,923 9,923 9,923
---------------- --------------- --------------- -------------- --------------- ---------------
Global Head of
Iain Evans Distribution 65,557 35,788 9,923 9,923 9,923
---------------- --------------- --------------- -------------- --------------- ---------------
Chief Operating
Nicholas Farren Officer 24,566 13,411 3,718 3,718 3,719
---------------- --------------- --------------- -------------- --------------- ---------------
Details of the vesting and sale of shares for each PDMR is
provided below:
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Gavin Rochussen
------------------------------------- -----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- -----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares
of the Company on the vesting of the
2020 LTIP Award
------------------------------------- -----------------------------------------------
c) Price(s) and volume(s)
---------------------- --------------------
Price(s) Volume(s)
---------------------- --------------------
Nil 131,155
----------------------------------------------------------------- --------------------
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 10-07-2023
------------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Gavin Rochussen
------------------------------------- ----------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting
of the 2020 LTIP Award
------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
455.5623p 71,598
--------------------- --------------------
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
------------------------------------- ----------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Samir Ayub
------------------------------------- -----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------
a) Position/status Finance Director
------------------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- -----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares
of the Company on the vesting of the
2020 LTIP Award
------------------------------------- -----------------------------------------------
c) Price(s) and volume(s)
---------------------- --------------------
Price(s) Volume(s)
---------------------- --------------------
Nil 24,566
----------------------------------------------------------------- --------------------
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 10-07-2023
------------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Samir Ayub
------------------------------------- ----------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------------
a) Position/status Finance Director
------------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting
of the 2020 LTIP Award
------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
455.5623p 13,411
--------------------- --------------------
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
------------------------------------- ----------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Alexander Black
------------------------------------- -----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------
a) Position/status Chief Investment Officer
------------------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- -----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares
of the Company on the vesting of the
2020 LTIP Award
------------------------------------- -----------------------------------------------
c) Price(s) and volume(s)
---------------------- --------------------
Price(s) Volume(s)
---------------------- --------------------
Nil 65,557
----------------------------------------------------------------- --------------------
e) Date of the transaction 10-07-2023
------------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Alexander Black
------------------------------------- ----------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------------
a) Position/status Chief Investment Officer
------------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting
of the 2020 LTIP Award
------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
455.5623p 35,788
--------------------- --------------------
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
------------------------------------- ----------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Iain Evans
------------------------------------- -----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------
a) Position/status Global Head of Distribution
------------------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- -----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares
of the Company on the vesting of the
2020 LTIP Award
------------------------------------- -----------------------------------------------
c) Price(s) and volume(s)
---------------------- --------------------
Price(s) Volume(s)
---------------------- --------------------
Nil 65,557
----------------------------------------------------------------- --------------------
e) Date of the transaction 10-07-2023
------------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Iain Evans
------------------------------------- ----------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------------
a) Position/status Global Head of Distribution
------------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting
of the 2020 LTIP Award
------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
455.5623p 35,788
--------------------- --------------------
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
------------------------------------- ----------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Nicholas Farren
------------------------------------- -----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
------------------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- -----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares
of the Company on the vesting of the
2020 LTIP Award
------------------------------------- -----------------------------------------------
c) Price(s) and volume(s)
---------------------- --------------------
Price(s) Volume(s)
---------------------- --------------------
Nil 24,566
----------------------------------------------------------------- --------------------
e) Date of the transaction 10-07-2023
------------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Nicholas Farren
------------------------------------- ----------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
------------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Polar Capital Holdings plc
------------------------------------- ----------------------------------------------
b) LEI 549300OXX7YE1947B825
------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary Shares of 2.5p each
financial instrument,
type of instrument
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting
of the 2020 LTIP Award
------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
455.5623p 13,411
--------------------- --------------------
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
------------------------------------- ----------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------- ----------------------------------------------
Enquiries:
Polar Capital +44 (0)20 7227 2700
Gavin Rochussen (Chief Executive)
Samir Ayub (Finance Director)
Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000
Giles Rolls
Charles Farquhar
Stephen Westgate
Peel Hunt LLP - Joint Broker +44 (0)20 3597 8680
Andrew Buchanan
Camarco +44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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END
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