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8 Oct 2020 12:27
08 October 2020
DFS Furniture plc
Grant of 2020 Awards under the Long-Term Incentive Plan (the "LTIP")
The Executive Directors of DFS Furniture plc (the "Company") have been granted conditional shares in DFS on 6 October 2020, as part of the Company's Long-Term Incentive Plan.
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 | Director | 347,356 |
Mike Schmidt | Director | 208,413 |
After careful consideration, and as a direct impact of the current trading and financial environment, target setting for the LTIP Awards has been delayed until appropriately stretching but realistic targets can be set. In accordance with the Investment Association guidance, targets for the Adjusted EPS and relative Total Shareholder Return measures attaching to these LTIP Awards will be set and disclosed no later than 2nd April 2021. Further details are also provided in the Company's 2020 Annual Report due to be published on 15 October 2020.
Enquiries:
DFS: (enquiries via FTI) | TULCHAN | ||
Tim Stacey (CEO) | James Macey-White | ||
Mike Schmidt (CFO) | Jessica Reid | ||
LizMcDonald (Group Company Secretary)
| Amber Ahluwalia
| ||
Phil Hutchinson (Investor Relations) |
| ||
investor.relations@dfs.co.uk
| dfs@tulchangroup.com |
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. Mike Schmidt
|
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
|
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 | Vesting of options to acquire DFS Furniture plc £1.50 ordinary shares
ISIN: GB00BTC0LB89
|
b) | Nature of the transaction
| Granting of nil cost share options under the DFS Furniture plc 2020 Long Term Incentive Plan |
c) | Price(s) and volume(s)
| A. N/A 347,356 B. N/A 208,413
|
d) | Aggregated information - Aggregated volume - Price | / A. 347,275 N/A B. 208,413 . N/A |
e) | Date of the transaction | 6 October 2020 |
f) | Place of the transaction | London |
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