Last checked at 11 Feb 2022 10:06
Date: 11 February 2022
Future plc
(the "Company")
Director/PDMR holding
Value Creation Plan
Pursuant to the appointment of Penny Ladkin-Brand as Chief Financial Officer and Executive Director of the Company on 1 November 2021 and in line with the Company's remuneration policy, Penny Ladkin-Brand has been awarded units under the all-employee Value Creation Plan (VCP) commensurate with the equivalent of the previous CFO's award (63,000 units per tranche). Tranche 1 has been prorated from 1 November 2021 (47,472 units) reflecting Penny's 13 months as Chief Strategy Officer.
The first potential vesting date is the first Dealing Day after the announcement of FY23 results and any shares awarded to Executive Directors in respect of the first tranche (measurement date 30 September 2023) will be subject to a mandatory two-year holding period.
Any shares awarded to Executive Directors in respect of the second tranche (measurement date 30 September 2024) will be subject to a mandatory one-year holding period.
The ultimate release of any shares will be subject to the Committee satisfying itself that the recorded outcome is a fair reflection of the underlying business performance over the period.
Details of the awards to the Executive Director are as follows:
Name | Number of units awarded | Performance period | Vesting date |
Penny Ladkin-Brand | 27,472 (first tranche) - bringing her total award for tranche 1 to 47,472 | 1 October 2020 to: 30 September 2023 | The first Dealing Day after the announcement of the FY23 results |
Penny Ladkin-Brand | 43,000 (second tranche) bringing her total award for tranche 2 to 63,000 | 1 October 2020 to 30 September 2024 | The first Dealing Day after the announcement of the FY24 results |
Penny Ladkin-Brand | 43,000 (third tranche) bringing her total award for tranche 3 to 63,000 | 1 October 2020 to 30 September 2025 | The first Dealing Day after the announcement of the FY25 results |
Deferred Annual Bonus Scheme (DABS)
On 9 February 2022, in accordance with the provisions of the Company's approved Remuneration Policy, the Company granted the following conditional award over Ordinary Shares of 15p each. The DABS Award will vest two years from the date of the bonus payment, at no cost to the participant, in accordance with the rules of the DABS.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
|
Zillah Byng-Thorne
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
|
Chief Executive Officer (PDMR) | |||
b)
| Initial notification /Amendment
|
Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
|
Future plc | |||
b)
| LEI
|
213800K2581YRLEXV353 | |||
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 | ||||
Ordinary shares of 15p each | |||||
Identification code | GB00BYZN9041 | ||||
b)
| Nature of the transaction
| Grant of conditional awards over Future plc ordinary shares under the DABS. The award will vest on the first Dealing Day after the announcement of the FY23 results. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 19,993 | ||||
d)
| Aggregated information | N/A (single transaction) | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 9 February 2022 | |||
f)
| Place of the transaction
| London | |||
Enquiries:
Future plc Zillah Byng-Thorne, Chief Executive OfficerPenny Ladkin-Brand, Chief Financial Officer Marion Le Bot, Head of Investor Relations
| Tel: +44 (0)1225 442244 |
Headland Consultancy (Financial PR) Stephen MalthouseRob WalkerCharlie Twiggfuture@headlandconsultancy.com | Tel: +44 (0)20 3805 4822 +44 (0)7734 956 201+44 (0)77 9195 8922 |