Last checked at 31 Mar 2023 12:55
31 March 2023
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 30 March 2023, 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 of awards originally granted on 30 March 2020 under the Drax Group plc Deferred Share Plan (the "DSP"). The shares granted in March 2020 represented the deferred element of the annual bonus for the financial year ended 31 December 2019.
The Company was notified on 30 March 2023 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 at 529.43 pence per share. Both Will Gardiner and Andy Skelton retained the balance of the shares as explained below.
Director/PDMR | Total DSP award vesting1 | Number of shares sold to meet the tax liability | Net shares retained |
Will Gardiner | 93,616 | 44,120 | 49,496 |
Andy Skelton | 56,930 | 26,834 | 30,096 |
Notes:
1. Includes shares in lieu of accrued dividends throughout the holding period.
Following the vesting, Will Gardiner holds 742,871 shares in the Company.
Following the vesting, Andy Skelton holds 264,821 shares in the Company.
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 2020 DSP 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 | 30 March 2023 | ||||||
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 2020 DSP 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 | 30 March 2023 | ||||||
Place of the transaction | XLON | ||||||
--ENDS--