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Last checked at 
5 Apr 2024 08:00
05 April 2024
Drax Group plc
("Drax" or "the Company")
Symbol: DRX
Notification of Transactions of Directors,
Persons Discharging Managerial Responsibility or Connected Persons
Vesting of Deferred Share Plan Shares
On 3 April 2024, shares in Drax Group plc were issued to Will Gardiner (CEO) and Andy Skelton (CFO) as set forth in the table below.
The issuance was an automatic vesting on conclusion of a three-year vesting period for awards originally granted on 1 April 2021 under the Drax Group plc Deferred Share Plan (the "DSP"). The shares granted in April 2021 represented the deferred element of the annual bonus for the financial year ended 31 December 2020.
The Company was notified on 3 April 2024 that Will Gardiner and Andy Skelton each sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares. Shares were sold at a price of 489.1012 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period.
Director/PDMR | Total DSP award vesting1 | Number of shares sold to meet the tax liability | Net shares retained |
Will Gardiner | 60,237 | 28,412 | 31,825 |
Andy Skelton | 33,645 | 15,869 | 17,776 |
Notes:
1. Includes shares in lieu of accrued dividends throughout the holding period.
Vesting of Long-Term Incentive Plan Shares
On 3 April 2024, shares in Drax Group plc were issued to Persons Discharging Managerial Responsibility ("PDMRs") as set forth in the table below.
The issuance was an automatic vesting on conclusion of a three-year vesting period for awards originally granted on 1 April 2021 under the Drax Group plc Long-Term Incentive Plan 2020 (the "LTIP").
The Company was notified on 3 April 2024 that Will Gardiner, Andy Skelton and Paul Sheffield sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares. Shares were sold at a price of 489.1012 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period. Penelope Small sold all shares arising on the vesting of the 1 April 2021 grant under the LTIP. Shares were sold at a price of 489.1012 pence per share.
Director/PDMR | Total LTIP award vesting | Number of shares sold to meet the tax liability | Net shares retained | Total number of shares held in the Company (incl. held by spouse) |
Will Gardiner | 294,746 | 139,018 | 155,728 | 1,272,964 |
Andy Skelton | 168,039 | 79,256 | 88,783 | 577,614 |
Paul Sheffield | 74,262 | 35,026 | 39,236 | 55,554 |
Director/PDMR | Total LTIP award vesting | Number of shares sold | Net shares retained | Total number of shares held in the Company (incl. held by spouse) |
Penelope Small | 73,684 | 73,684 | 0 | 130,425 |
The information below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
Details of PDMR / person closely associated with them ("PCA") | |||||||
Name | Will Gardiner | ||||||
Reason for the notification | |||||||
Position / status | Group Chief Executive | ||||||
Initial notification / amendment | Initial Notification | ||||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
Name | Drax Group plc | ||||||
LEI | 549300YPSNTXR4ZHSR98 | ||||||
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 | |||||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
Nature of the transaction | Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to cover taxes due. | ||||||
Price(s) and volume(s) |
| ||||||
Aggregated information - Aggregated volume - Price |
167,430 489.1012 pence per share | ||||||
Date of the transaction | 03 April 2024 | ||||||
Place of the transaction | XLON | ||||||
Details of PDMR / person closely associated with them ("PCA") | |||||||
Name | Andy Skelton | ||||||
Reason for the notification | |||||||
Position / status | Chief Financial Officer | ||||||
Initial notification / amendment | Initial Notification | ||||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
Name | Drax Group plc | ||||||
LEI | 549300YPSNTXR4ZHSR98 | ||||||
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 | |||||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
Nature of the transaction | Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to cover taxes due. | ||||||
Price(s) and volume(s) |
| ||||||
Aggregated information - Aggregated volume - Price |
95,125 489.1012 pence per share | ||||||
Date of the transaction | 03 April 2024 | ||||||
Place of the transaction | XLON | ||||||
Details of PDMR / person closely associated with them ("PCA") | |||||
Name | Paul Sheffield | ||||
Reason for the notification | |||||
Position / status | Chief Commercial Officer | ||||
Initial notification / amendment | Initial Notification | ||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
Name | Drax Group plc | ||||
LEI | 549300YPSNTXR4ZHSR98 | ||||
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 | |||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||
Nature of the transaction | Automatic vesting of the LTIP award and sale of sufficient shares to cover taxes due. | ||||
Price(s) and volume(s) |
| ||||
Aggregated information - Aggregated volume - Price |
n/a | ||||
Date of the transaction | 03 April 2024 | ||||
Place of the transaction | XLON | ||||
Details of PDMR / person closely associated with them ("PCA") | |||||
Name | Penelope Small | ||||
Reason for the notification | |||||
Position / status | Interim Chief Operations Officer | ||||
Initial notification / amendment | Initial Notification | ||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
Name | Drax Group plc | ||||
LEI | 549300YPSNTXR4ZHSR98 | ||||
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 | |||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||
Nature of the transaction | Automatic vesting of the LTIP award and sale of all vested shares. | ||||
Price(s) and volume(s) |
| ||||
Aggregated information - Aggregated volume - Price |
n/a | ||||
Date of the transaction | 03 April 2024 | ||||
Place of the transaction | XLON | ||||
--ENDS--
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