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15 Mar 2024 09:30
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR CONNECTED PERSONS
Following the commencement of his employment as Group Chief Financial Officer of London Stock Exchange Group plc (the "Company") on 26 February 2024 and appointment to the Board of the Company on 1 March 2024, Michel-Alain Proch was granted awards over shares in the Company as detailed below on 13 March 2024 (the "Awards").
Consistent with the Company's approved Remuneration Policy, and as set out in its announcement on 20 November 2023, the Company agreed to make the Awards to compensate Mr Proch for certain incentive arrangements which he forfeited on leaving his former employer to join the Company.
The Awards comprise:
· A performance share award under the Company's Restricted Share Award Plan 2018 ("RSAP") over 19,507 shares with a face value of £1,728,737 (the "PSU Award").
The PSU award will vest as soon as practicable following Publicis Groupe's formal confirmation of, and the number of shares that vest will reflect, the performance outcome of the forfeited Publicis Groupe 2022 LTIP award. The PSU Award will vest no earlier than March 2025.
· A conditional share award under the RSAP over 11,277 shares with a face value of £999,427 (the "RSU Award").
The RSU Award will vest in March 2026. Vesting will not be subject to performance conditions.
Further details about the Awards will be set out in the Directors' Remuneration Report for the 2023 financial year.
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR CONNECTED PERSONS
This notification is made in accordance with the requirements of the UK Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Michel-Alain Proch | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Group Chief Financial Officer | |||||||||
b) | Initial/Amendment notification | Initial | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | London Stock Exchange Group plc | |||||||||
b) | LEI | 213800QAUUUP6I445N30 | |||||||||
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
Identification code |
Ordinary shares of 6 79/86 pence each
ISIN: GB00B0SWJX34 | |||||||||
b) | Nature of the transaction | (1) Grant of a performance award over ordinary shares under the London Stock Exchange Group Restricted Share Award Plan 2018 ("RSAP") to replicate the commercial value of deferred compensation forfeited on departure from previous employer. (2) Grant of a conditional award over ordinary shares under the RSAP to replicate the commercial value of deferred compensation forfeited on departure from previous employer. | |||||||||
c) | Price(s) and volume(s) |
| |||||||||
d) | Aggregated information
- Aggregated volume
- Price |
30,784 | |||||||||
e) | Date of the transaction | 13 March 2024 | |||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||
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