Convatec Group PLC (CTEC) Convatec Group PLC: Director/ PDMR Shareholding 12-March-2024 / 16:00 GMT/BST
12 March 2024 Convatec Group Plc(“Convatec” or “the Company”) Director/ PDMR Shareholding The Company has been notified of the following transactions in relation to Persons Discharging Managerial Responsibility (“PDMR”) in respect of ordinary shares of 10 pence each in the Company (“Shares”). Grant of Awards under the Company’s Long Term Incentive Plan (“LTIP”) On the 11 March 2024, awards were granted to Karim Bitar, Chief Executive Officer and Jonny Mason, Chief Financial Officer under the LTIP in the form of Performance Share Units (“PSUs”). These awards are due to vest on the third anniversary of grant, conditional on the following performance conditions: adjusted PBT growth, organic revenue growth, and TSR over the three financial years to 31 December 2026; and subject to a two-year post vesting holding period. Further details of the LTIP and performance conditions will be available in the Company’s 2023 Annual Report. Karim Bitar: 1,025,891 Jonny Mason: 464,221The three-day average share price, closing on 8 March 2024 of £2.76 was used in determining the awards. Grant of Awards under the Company’s Deferred Bonus Plan (“DBP”)On the same date, awards were also granted to Karim Bitar and Jonny Mason, under the DBP in the form of restricted stock units (“RSUs”), which are due to vest on the third anniversary of grant and are not subject to performance conditions: Karim Bitar: 226,266 Jonny Mason: 122,863 The three-day average share price, closing on 8 March 2024 of £2.76 was used in determining the awards. Vesting of Awards under the Company’s LTIP Also on 11 March 2024, share awards granted to Karim Bitar in 2021 under the LTIP vested: | Shares vested | Shares sold to satisfy income tax & NI liabilities | Share price | Total shares acquired | | 592,209 | 279,106 | 2.805 | 313,103 |
Vesting of Awards under the Company’s DBP On the same day, awards granted to Karim Bitar in 2021 under the DBP, vested: | Shares vested | Shares sold to satisfy income tax & NI liabilities | Share Price | Total Shares acquired | | 301,460 | 142,077 | 2.805 | 159,383 |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM | 1 | Details of the person discharging managerial responsibilities/person closely associated | | a) | Name | Karim Bitar | | 2 | Reason for the notification | | a) | Position/Status | Chief Executive Officer and PDMR | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Convatec Group Plc | | b) | LEI | 213800LS272L4FIDOH92 | | 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 share of 10p each in Convatec Group Plc GB00BD3VFW73 | | b) | Nature of the transaction | Grant of RSUs under the DBP, subject to a time-based vesting period of three years. Grant of PSUs under the LTIP subject to performance conditions. | | c) | Price(s) and volume(s) | Price(s) n/a n/a | Volume(s) 226,266 1,025,891 | | d) | Aggregated information - Aggregated volume - Price | 1,252,157 N/A | | e) | Date of the transaction | 2024-03-11 | | f) | Place of the transaction | Outside a trading venue | | | | | | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | | a) | Name | Jonny Mason | | 2 | Reason for the notification | | a) | Position/Status | Chief Financial Officer and PDMR | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Convatec Group Plc | | b) | LEI | 213800LS272L4FIDOH92 | | 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 share of 10p each in Convatec Group Plc GB00BD3VFW73 | | b) | Nature of the transaction | Grant of RSUs under the DBP, subject to a time-based vesting period of three years and continued employment. Grant of PSUs under the LTIP subject to performance conditions. | | c) | Price(s) and volume(s) | Price(s) n/a n/a | Volume(s) 122,863 464,221 | | d) | Aggregated information - Aggregated volume - Price | 587,084 N/A | | e) | Date of the transaction | 2024-03-11 | | f) | Place of the transaction | Outside a trading venue | | | | | | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | | a) | Name | Karim Bitar | | 2 | Reason for the notification | | a) | Position/Status | Chief Executive Officer and PDMR | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Convatec Group Plc | | b) | LEI | 213800LS272L4FIDOH92 | | 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 share of 10p each in Convatec Group Plc GB00BD3VFW73 | | b) | Nature of the transaction | Vesting of Share award under the DBP. Vesting of Share award under the LTIP. | | c) | Price(s) and volume(s) | Price(s) n/a n/a | Volume(s) 301,460 592,209 | | d) | Aggregated information - Aggregated volume - Price | 893,669 N/A | | e) | Date of the transaction | 2024-03-11 | | f) | Place of the transaction | Outside a trading venue | | | | | | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | | a) | Name | Karim Bitar | | 2 | Reason for the notification | | a) | Position/Status | Chief Executive Officer and PDMR | | b) | Initial notification/Amendment | Initial notification | | 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | | a) | Name | Convatec Group Plc | | b) | LEI | 213800LS272L4FIDOH92 | | 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 share of 10p each in Convatec Group Plc GB00BD3VFW73 | | b) | Nature of the transaction | Immediate sale of shares awarded under the DBP to cover tax and national insurance liabilities. Immediate sale of shares awarded under the LTIP to cover tax and national insurance liabilities. | | c) | Price(s) and volume(s) | Price(s) 2.805 2.805 | Volume(s) 142,077 279,106 | | d) | Aggregated information - Aggregated volume - Price | 421,183 2.805 | | e) | Date of the transaction | 2024-03-11 | | f) | Place of the transaction | London Stock Exchange | | | | | | |
Enquiries Ria Banerjee, Group Deputy Company Secretary +44(0)7425655845cosec@convatec.com Convatec Group Plc’s LEI code is 213800LS272L4FIDOH92 About Convatec Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in advanced wound care, ostomy care, continence care and infusion care. With around 10,000 colleagues, we provide our products and services in almost 100 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. Group revenues in 2023 were over $2 billion. The company is a constituent of the FTSE 100 Index (LSE: CTEC). To learn more about Convatec, please visit www.convatecgroup.com
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