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24 Dec 2020 07:00
Grainger plc
("Grainger" or the "Company")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Grainger plc announces that pursuant to the Grainger 2017 Long Term Incentive Plan, in respect of the shares that vested on 11 December 2020, Vanessa Simms and Andrew Saunderson exercised their respective options on 21 December 2020. In order to fund the resulting tax and national insurance liability arising from the exercise, disposals of ordinary shares (as set out below) took place on 22 December 2020 at a price of £2.8271. Grainger was notified of the completion of these disposals on 23 December 2020.
The net vested shares (based on the performance conditions and assessment as set out in the 2020 Annual Report and Accounts and including the dividend equivalent shares as noted in the 2020 Annual Report & Accounts) as set out below are subject to a 2-year holding period from the date of vesting in accordance with the Remuneration Policy.
Executive Director/PDMR | Award Plan | Original number of options awarded | Number of ordinary shares vested (including dividend shares)
| Number of shares sold to cover the tax and national insurance liability arising from vesting
| Net vested shares subject to a 2- year holding period from the date of vesting |
Vanessa Simms
| Grainger 2017 LTIP
| 163,453 | 115,832 | 53,372 | 62,460 |
Andrew Saunderson | Grainger 2017 LTIP
| 81,039 | 57,429 | 26,462 | 30,967 |
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide 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 | 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
| Sale of shares vested under the 2017 LTIP option plan in order to cover the tax liability arising on exercise. | |
d)
| Price and volumes | Price: £2.8271 Volumes: 53,372 Ordinary Shares
| |
d)
| Aggregated information - Aggregated volume - Price |
N/A | |
e)
| Date of the transaction | 22 December 2020 | |
f) | Place of the transaction | London Stock Exchange
| |
1
| Details of the person discharging managerial responsibilities / person closely associated | ||
a)
| Names | Andrew Saunderson | |
2
| Reason for the notification | ||
a)
| Position/status
| Director of Investments/PDMR | |
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 | Sale of shares vested under the 2017 LTIP option plan in order to cover the tax liability arising on exercise. | |
d)
| Price and volumes | Price: £2.8271 Volumes: 26,462 Ordinary Shares
| |
d)
| Aggregated information - Aggregated volume - Price |
N/A | |
e)
| Date of the transaction | 22 December 2020 | |
f) | Place of the transaction | London Stock Exchange
| |
Name of authorised official of issuer responsible for making notification.
Adam McGhin
Group General Counsel and Company Secretary
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