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20 Dec 2024 15:33
Burberry Group plc (the "Company") - Director/PDMR Shareholdings
As announced on 15 July 2024, as part of his appointment, Joshua Schulman, Chief Executive Officer (the "CEO") of the Company, is to receive a recruitment share award over Ordinary Shares of 0.05p each ("Shares") in the Company. Accordingly, the Company announces that a conditional share award was granted on 19 December 2024 to Joshua Schulman as detailed below (the "Recruitment Award"):
Director | Number of Shares subject to Recruitment Award | Award type | Vesting date | Terms |
Joshua Schulman | 392,366 | Performance-based award | 17 July 2027
| Bespoke award in reliance on FCA Listing Rule 9.3.2(2) to facilitate recruitment, on terms similar to Burberry Share Plan 2020 awards. |
The number of Shares comprised in the Recruitment Award was determined by reference to the Company's share price using the 20-business day average prior to the date of Joshua's appointment (917.51p). The Recruitment Award is subject to the achievement of performance conditions linked to the Company's absolute Total Shareholder Return (TSR) and a two-year post-vesting holding period.
Vesting will be subject to the following vesting profile:
% of award vesting (rounded down to nearest whole Share) | Absolute TSR | |
Threshold | 25% | +49% |
Maximum | 100% | +109% |
The Recruitment Award has been made in line with the Company's Directors' Remuneration Policy, which is set out in full in the FY 2022/23 Directors' Remuneration Report.
Full details of the Recruitment Award, including further details of the performance conditions and information as required by FCA Listing Rule 9.3.3, will be set out in the Company's FY 2024/25 Directors' Remuneration Report.
20 December 2024
The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 as it forms part of UK law.
Notification of dealing form
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||
a) | Name | Joshua Schulman | |||||||
2 | Reason for the notification | ||||||||
a) | Position/status | Chief Executive Officer | |||||||
b) | Initial notification /Amendment | Initial notification | |||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
a) | Name | Burberry Group plc | |||||||
b) | LEI | 213800PE1KEFCNFR1R50 | |||||||
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 instrument Identification code | Ordinary shares of 0.05 pence each ("Shares")
GB0031743007 | |||||||
b) | Nature of the transaction | Grant of a conditional award over Shares | |||||||
c) | Price(s) and volume(s) |
| |||||||
d) | Aggregated information
- Aggregated volume
- Price
|
| |||||||
e) | Date of the transaction | 2024-12-19 | |||||||
f) | Place of the transaction | Outside a trading venue | |||||||
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