Last checked at 17 Oct 2023 07:00
17 October 2022
DFS Furniture plc
("the Company")
Grant of 2023 Awards under the Long-Term Incentive Plan (the "LTIP")
DFS Furniture PLC announces the following transaction by persons discharging managerial responsibility ("PDMR") in ordinary shares of the Company with a nominal value of £0.10 ("Shares") took place on 16 October 2023.
The Executive Directors of DFS Furniture plc have been granted conditional shares in DFS, as part of the Company's Long-Term Incentive Plan. Under the terms of the LTIP, the quantum of the 2021 LTIP Options awarded was 175% of the equivalent salary of Tim Stacey, CEO, and 140% of the equivalent salary of John Fallon and the 2023 LTIP Options were granted at an award price of £1.02
No consideration was payable for the grant of the awards. Conditional share awards granted under the LTIP will vest after a three-year performance period, subject to achievement of the performance measures. The performance measures are based on Adjusted Earnings Per Share ("EPS") and Relative Total Shareholder Return ("TSR").
Details of the conditional share awards under the LTIP are as follows:
Name | Status | Number of conditional shares awarded |
Tim Stacey | Executive Director | 860,120 |
John Fallon | Executive Director | 546,486 |
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 | A. Tim Stacey B. John Fallon |
2 | Reason for the notification | |
a) | Position/status | A. Chief Executive Officer B. 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 | DFS Furniture plc |
b) | LEI | 213800GDSOBNKS1U1P93
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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
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a) | Description of the financial instrument, type of instrument Identification code | Grant of options to acquire DFS Furniture plc £0.10 ordinary shares ISIN: GB00BTC0LB89 |
b) | Nature of the transaction
| Granting of nil cost share options under the DFS Furniture plc 2015 Long Term Incentive Plan |
c) | Price(s) and volume(s)
| A. £1.02 860,120 B. £1.02 546,486 |
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transactions
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e) | Date of the transaction | 16 October 2023 |
f) | Place of the transaction | Outside of a trading venue |
Enquiries:
DFS Liz McDonald (Group Company Secretary) Phil Hutchinson (Investor Relations) investor.relations@dfs.co.uk | Teneo James Macey-White +44 (0)20 7353 4200 85fs.dfs@teneo.com
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About DFS Furniture plc
The Group is the clear market-leading retailer of living room furniture in the United Kingdom. Our Group purpose is to bring great design and comfort into every living room, in an affordable, responsible and sustainable manner. We operate an integrated physical and digital retail network of living room furniture showrooms and web sites in the United Kingdom and the Republic of Ireland, trading through our leading brands, DFS and Sofology. We attract customers through our targeted and national marketing activities and our reputation for high quality products and service, breadth of product offer and favourable consumer financing options. We fulfil orders for our exclusive product ranges through our own UK finished goods factories, and through manufacturing partners located in the UK, Europe and Far East, and delivered with care through our expert final-mile delivery service "The Sofa Delivery Company Limited".