Last checked at 22 Jul 2021 16:34
22 July 2021
Big Yellow Group PLC
Director/PDMR Shareholding
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Persons Closely Associated with them.
1. | Details of PDMR / person closely associated with them ('PCA') | |||||||||||
a) | Name | 1. Nicholas Vetch 2. James Gibson 3. Adrian Lee 4. John Trotman | ||||||||||
b) | Position / status | 1. Executive Chairman 2. Chief Executive Officer 3. Operations Director 4. Chief Financial Officer | ||||||||||
c) | Initial notification / amendment | Initial Notification in each case | ||||||||||
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 of the financial instrument | Ordinary Shares of Big Yellow Group PLC (the "Company"). | ||||||||||
b) | Nature of the transaction | In each case, on 22 July 2021 the Executive Directors were granted nil paid options over ordinary shares of 10 pence (the "Options") granted under the Company's Long Term Investment Plan. The Options are exercisable from 22 July 2024 to 21 July 2031, subject to performance criteria being met. Each of the messrs Vetch, Gibson, Lee and Trotman were granted the following Options: 1. Mr Vetch: 27,617 2. Mr Gibson: 32,404 3. Mr Lee: 20,989 4. Mr Trotman: 23,935 The performance conditions attributable to these Options are as follows:
The Group is in the process of drawing up appropriate Science Based Targets for the business and expects to be in a position to report these in the Annual Report and Accounts for the year ended 31 March 2022. The recent acquisition of the remaining interest in Armadillo which the Group did not already own, will also take time to integrate into our sustainability targets. In view of these factors the Remuneration Committee has decided that it should postpone the introduction of ESG targets (intended to be introduced for a minority of LTIP awards) into the LTIP until next year's grant. The Committee will continue to target a range of ESG measures in the annual deferred bonus scheme. On 22 July 2021, James Gibson, Adrian Lee and John Trotman were also each granted 2,166 options under the Company's Approved Option scheme. At the date of exercise, to the extent that there is a gain on the Approved options, LTIP options will be forfeited to the same value.
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c) | Price(s) and volume(s) |
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d) | Aggregated information Aggregated volume Price | 104,945 shares £nil | ||||||||||
e) | Date of the transaction | 22 July 2021 | ||||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||||