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10 Feb 2017 15:35
Grainger plc
("Grainger" or the "Company")
GRAINGER PLC 2017 LONG TERM INCENTIVE PLAN AND GRANT OF OPTIONS TO DIRECTORS
The Company announces that it has adopted a new Long Term Incentive Plan, the 2017 Long Term Incentive Plan ("LTIP"). Initial grants of nil cost share options ("Options") over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the LTIP were made on 9 February 2017.
Grant of Options
On 9 February 2017, Grainger plc granted nil cost Options of a total of 688,948 Shares ("2017 LTIP Options") to its three Executive Directors (as specified in the table below), all of whom are regarded as Persons Discharging Managerial Responsibilities ("PDMRs") for the Company.
Director | Position | No. of shares under 2017 LTIP |
Helen Gordon | Chief Executive Officer | 329,162 |
Vanessa Simms | Chief Financial Officer | 170,101 |
Nick Jopling | Property Director | 189,685 |
Vesting of the Options is subject to certain performance conditions, namely the Total Property Return ("TPR") performance and relative Total Shareholder Return ("TSR"). Half of the Shares under an Option are subject to TPR performance conditions, and half of the Shares under an Option are subject to TSR performance conditions.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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)
| Names | Helen Gordon | |
2
| Reason for the notification | ||
a)
| Position/status
| Chief Executive Officer, Director | |
b)
| Initial notification | Initial Notification
| |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a)
| Name
| Grainger plc | |
b) | LEI | 2138007CEIRKZMNI2979
| |
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 5p each in Grainger plc | |
b) | Identification code
| GB00B04V1276 | |
c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied | |
d)
| Price and volumes | Price - Nil Volume: 329,162 Ordinary Shares | |
d)
| Aggregated information - Aggregated volume - Price |
N/A
| |
e)
| Date of the transaction | 9 February 2017 | |
f) | Place of the transaction | Outside a trading venue | |
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Vanessa Simms
|
2
| Reason for the notification | |
a)
| Position/status
| Chief Financial Officer, Director |
b)
| Initial notification
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Grainger plc |
b)
| LEI | 2138007CEIRKZMNI2979 |
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 5p each in Grainger plc |
b) | Identification code
| GB00B04V1276 |
c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied
|
d)
| Price and volumes | Price - Nil Volumes: 170,101 Ordinary Shares
|
d)
| Aggregated information - Aggregated volume - Price |
N/A
|
e)
| Date of the transaction | 9 February 2017 |
f) | Place of the transaction | Outside a trading venue |
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Nick Jopling
|
2
| Reason for the notification | |
a)
| Position/status
| Property Director |
b)
| Initial notification
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Grainger plc |
b)
| LEI | 2138007CEIRKZMNI2979 |
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 5p each in Grainger plc |
b) | Identification code
| GB00B04V1276 |
c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied |
d)
| Price and volumes | Price - Nil Volumes: 189,685 Ordinary Shares |
d)
| Aggregated information - Aggregated volume - Price |
N/A
|
e)
| Date of the transaction | 9 February 2017 |
f) | Place of the transaction | Outside a trading venue |
Name of authorised official of issuer responsible for making notification.
Adam McGhin
Group General Counsel and Company Secretary
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