TIDMPSN

RNS Number : 2217S

Persimmon PLC

12 July 2022

12 July 2022

Persimmon Plc (the "Company")

Director/PDMR Shareholding

Jason Windsor commenced his role as Chief Financial Officer of the Company on 11 July 2022.

As reported in Persimmon's Directors' Remuneration Report for the year ended 31 December 2021, in line with usual practice the Remuneration Committee agreed that, in recognition of Jason's forfeiture of remuneration on leaving his former employer, he would be granted buy-out awards. As previously disclosed these have been calculated to match and not exceed the value forfeited. Information in relation to the principles applied in agreeing the buy-out awards is included in that Directors' Remuneration Report. In line with the vesting schedule of the forfeited awards, certain of the buy-out awards vested immediately. Half of Jason's forfeited annual bonus for 2021 was satisfied by the grant of a buy-out award as set out below. The remaining 50% of that forfeited bonus was paid in cash, but with half of that cash amount (net of income tax and national insurance) to be used to purchase 6,191 shares in Persimmon on 11 July 2022.

The buy-out awards granted in shares on 11 July 2022 are summarised below.

 
 Forfeited remuneration   Number of Persimmon     Vesting date of buy-out award 
                           shares subject 
                           to the buy-out 
                           award 
 Annual bonus             23,900 (reflecting      March 2025 
  for 2021                 50% of the forfeited 
                           bonus) 
                         ----------------------  ------------------------------- 
 2019 Deferred            2,530                   11 July 2022 
  Bonus 
                         ----------------------  ------------------------------- 
 2020 Deferred            18,569                  In respect of 9,285 Persimmon 
  Bonus                                            shares, 11 July 2022 
                                                   In respect of 9,284 Persimmon 
                                                   shares, 23 March 2023 
                         ----------------------  ------------------------------- 
 2021 Deferred            23,829                  In respect of 7,943 Persimmon 
  Bonus                                            shares, 11 July 2022 
                                                   In respect of 7,943 Persimmon 
                                                   shares, 25 March 2023 
                                                   In respect of 7,943 Persimmon 
                                                   shares, 25 March 2024 
                         ----------------------  ------------------------------- 
 2019 Restricted          17,296                  11 July 2022 
  Stock 
                         ----------------------  ------------------------------- 
 2020 LTIP                96,449                  23 March 2023 (followed by 
                                                   a two year holding period)* 
                         ----------------------  ------------------------------- 
 2021 LTIP                26,808                  25 March 2024 (followed by 
                                                   a two year holding period)* 
                         ----------------------  ------------------------------- 
 

*The vesting of these awards is subject to the satisfaction of the performance conditions applying to the forfeited awards.

Further details of the buy-out awards granted, shares acquired pursuant to the vesting of those buy-out awards that vested immediately, shares sold to cover tax liabilities in connection with the vesting of the awards that vested immediately, and shares purchased with the net of income tax and national insurance bonus are set out below.

 
    Details of the person discharging managerial responsibilities/person 
 1   closely associated 
a)  Name                             Jason Windsor 
    -------------------------------  -------------------------------------- 
    Reason for the notification 
 2 
    ----------------------------------------------------------------------- 
a)  Position/status                  Chief Financial Officer 
    -------------------------------  -------------------------------------- 
b)  Initial notification/ Amendment  Initial notification 
    -------------------------------  -------------------------------------- 
    Details of the issuer 
 3 
    ----------------------------------------------------------------------- 
a)  Name                             Persimmon Plc 
    -------------------------------  -------------------------------------- 
b)  LEI code                         213800XI72Y57UWN6F31 
    -------------------------------  -------------------------------------- 
    Details of the transaction(s): section to be repeated 
 4   for (i) each type of instrument; (ii) each type of transaction; 
     (iii) each date; and (iv) each place where transactions 
     have been conducted 
    ----------------------------------------------------------------------- 
    Transaction 1 - Grant of buy-out awards over Persimmon 
     shares 
    ----------------------------------------------------------------------- 
a)  Description of the financial     Ordinary shares of 10p each 
     instrument, type of instrument 
    Identification code              GB0006825383 
    -------------------------------  -------------------------------------- 
b)  Nature of the transaction        Grant of awards over Persimmon 
                                      shares in respect of remuneration 
                                      forfeited on leaving previous 
                                      employer. 
    -------------------------------  -------------------------------------- 
c)  Price(s) and volume(s)            Award                Price    Volume 
                                       Award granted in 
                                        respect of 2021 
                                        annual bonus        Nil      23,900 
                                                           -------  ------- 
                                       Award granted in 
                                        respect of 2019 
                                        deferred bonus      Nil      2,530 
                                                           -------  ------- 
                                       Award granted in 
                                        respect of 2020 
                                        deferred bonus      Nil      18,569 
                                                           -------  ------- 
                                       Award granted in 
                                        respect of 2021 
                                        deferred bonus      Nil      23,829 
                                                           -------  ------- 
                                       Award granted in 
                                        respect of 2019 
                                        restricted stock    Nil      17,296 
                                                           -------  ------- 
                                       Award granted in 
                                        respect of 2020 
                                        LTIP                Nil      96,449 
                                                           -------  ------- 
                                       Award granted in 
                                        respect of 2021 
                                        LTIP                Nil      26,808 
                                                           -------  ------- 
    -------------------------------  -------------------------------------- 
d)  Aggregated information 
     - Aggregated volume               209,381 
     - Price                           Nil 
    -------------------------------  -------------------------------------- 
e)  Date of the transaction          11 July 2022 
    -------------------------------  -------------------------------------- 
f)  Place of the transaction         Outside a trading venue 
    -------------------------------  -------------------------------------- 
 
 
    Transaction 2 - acquisition of Persimmon shares pursuant 
     to the partial vesting of buy-out awards 
a)  Description of the financial     Ordinary shares of 10p each 
     instrument, type of instrument 
    Identification code              GB0006825383 
    -------------------------------  -------------------------------- 
b)  Nature of the transaction        Acquisition of Persimmon shares 
                                      following the partial vesting 
                                      of buy-out awards. 
    -------------------------------  -------------------------------- 
c)  Price(s) and volume(s)            Price    Volume 
                                       Nil      37,054 
                                               ------- 
    -------------------------------  -------------------------------- 
d)  Aggregated information 
     - Aggregated volume               N/A Single transaction 
     - Price                           N/A Single transaction 
    -------------------------------  -------------------------------- 
e)  Date of the transaction          11 July 2022 
    -------------------------------  -------------------------------- 
f)  Place of the transaction         Outside a trading venue 
    -------------------------------  -------------------------------- 
    Transaction 3 - Sale of Persimmon shares to settle tax 
     liability 
    ----------------------------------------------------------------- 
a)  Description of the financial     Ordinary shares of 10p each 
     instrument, type of instrument 
    Identification code              GB0006825383 
    -------------------------------  -------------------------------- 
b)  Nature of the transaction        Sale of shares to settle tax 
                                      liability on vesting of awards. 
    -------------------------------  -------------------------------- 
c)  Price(s) and volume(s)            Price          Volume 
                                       GBP17.62958    17,936 
                                                     ------- 
    -------------------------------  -------------------------------- 
d)  Aggregated information 
     - Aggregated volume               N/A Single transaction 
     - Price                           N/A Single transaction 
    -------------------------------  -------------------------------- 
e)  Date of the transaction          11 July 2022 
    -------------------------------  -------------------------------- 
f)  Place of the transaction         London Stock Exchange (XLON); 
                                      Main Market 
    -------------------------------  -------------------------------- 
 
 
    Transaction 4 - Acquisition of Persimmon shares 
a)  Description of the financial     Ordinary shares of 10p each 
     instrument, type of instrument 
    Identification code              GB0006825383 
    -------------------------------  ------------------------------- 
b)  Nature of the transaction        Acquisition of Persimmon shares 
    -------------------------------  ------------------------------- 
c)  Price(s) and volume(s)            Price          Volume 
                                       GBP17.62958    6,191 
                                                     ------- 
    -------------------------------  ------------------------------- 
d)  Aggregated information 
     - Aggregated volume               N/A Single transaction 
     - Price                           N/A Single transaction 
    -------------------------------  ------------------------------- 
e)  Date of the transaction          11 July 2022 
    -------------------------------  ------------------------------- 
f)  Place of the transaction         London Stock Exchange (XLON); 
                                      Main Market 
    -------------------------------  ------------------------------- 
 

Tracy Davison

Company Secretary

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