Last checked at 9 Nov 2022 15:33
9 November 2022
Aston Martin Lagonda Global Holdings plc
Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
Aston Martin Lagonda Global Holdings plc (the "Company") announces the following changes in the interests of Directors in the Ordinary Shares in the Company ("Shares"), which took place on 8 November 2022.
Buy-out Share Award
On 8 November 2022, Doug Lafferty (Chief Financial Officer) was granted 659,113 Shares for nil-consideration, the "Buy-out Share Award".
The Buy-out Share Award vested immediately and was settled partly with 349,329 Shares and partly with cash (with the cash element being paid to HMRC to satisfy the income tax and National Insurance due on the award).
Doug is required to retain at least 75% of the 349,329 Shares he received, in accordance with the Company's Executive Directors' shareholding guidelines.
In order to secure Mr Lafferty's appointment and to allow him to join the Company at the earliest opportunity (and as disclosed both on appointment and in the 2021 Directors' Remuneration Report), the Remuneration Committee agreed to buy out awards that Doug forfeited on leaving his previous employer. This buy-out share award compensates Doug for an LTIP award at his previous employer which he forfeited by joining Aston Martin. This Buy-out Share Award was structured to reflect the actual outcome (determined by the previous employer) of the forfeited LTIP award and will be disclosed in full in the 2022 Directors' Remuneration Report.
The Buy-out Share Award is subject to clawback provisions and Doug will be required to repay the award if he resigns or his employment is terminated for cause within 12 months of the award date.
Enquiries:
Investors and Analysts Sherief Bakr, Director of Investor Relations
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+44 (0)7789 177547 sherief.bakr@astonmartin.com |
Media Kevin Watters, Director of Communications
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+44 (0)7764 386683 kevin.watters@astonmartin.com |
Grace Barnie, Corporate Communications Manager
| +44 (0)7880 903490 grace.barnie@astonmartin.com |
Tulchan Communications Harry Cameron and Simon Pilkington |
+44 (0)20 73534200
|
Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Doug Lafferty | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aston Martin Lagonda Global Holdings plc | ||||
b) | LEI | 213800167WOVOK5ZC776 | ||||
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 instrumentIdentification code | Ordinary Shares
(ISIN: GB00BN7CG237) | ||||
b) | Nature of the transaction | Grant of Buy-out Award | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information- Aggregated volume - Price | 659,113 £0 | ||||
e) | Date of the transaction | 8 November 2022 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 instrumentIdentification code | Ordinary Shares
(ISIN: GB00BN7CG237) | ||||
b) | Nature of the transaction | Vesting of Buy-out Award - settled partly by way of Ordinary Shares and partly in cash | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information- Aggregated volume - Price | 349,329 £0 | ||||
e) | Date of the transaction | 8 November 2022 | ||||
f) | Place of the transaction | Outside a trading venue | ||||