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7 Aug 2020 11:53
7 August 2020
McCarthy & Stone plc (the "Company")
Notification of Transactions by
Persons Discharging Managerial Responsibilities
Pursuant to the notification obligations under article 19.3 of the Market Abuse Regulation, the Company announces the following changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in the ordinary shares of 8 pence nominal value in the Company ("Shares").
McCarthy & Stone plc Long Term Incentive Plan
On 5 August 2020, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as nil‐cost options to Gary Elliott (Group HR Director) and Tracey McDermott (Chief Technology Officer) and are subject to the rules of the LTIP. The number of shares over which each nil-cost option was awarded was calculated by reference to the average closing price of the Shares as derived from the Daily Official List of the London Stock Exchange on 15, 16, 17, 20 and 21 July.
The performance conditions and targets for this LTIP grant (as applicable) measured over a three‐year performance period are:
• FY22 ROCE ‐ Threshold: 14%, Maximum: 20%;
• FY22 EPS ‐ Threshold: 12.p, Maximum: 17.5p.
The award in respect of Tracey McDermott is not subject to the performance conditions above and will vest subject to continued employment on the vesting date.
The normal date of vesting for these nil‐cost options will be 5 August 2023 and the last date for exercise will be 5 August 2030, with dividend equivalents payable in respect of the vesting of nil‐cost options in accordance with the rules of the LTIP.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Gary Elliot | ||||
2 | Reason for the notification | |||||
a) | Position/status | Group HR Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer | |||||
a) | Name | McCarthy & Stone plc | ||||
b) | LEI | 213800CEJ4OQ5YPU8Z37 | ||||
4 | Details of the transaction | |||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 8 pence nominal value each
GB00BYNVD082 | ||||
b) | Nature of the transaction | Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
314,982 £0.00 | ||||
e) | Date of the transaction | 2020-08-04 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Tracey McDermott | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Technology Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer | |||||
a) | Name | McCarthy & Stone plc | ||||
b) | LEI | 213800CEJ4OQ5YPU8Z37 | ||||
4 | Details of the transaction | |||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 8 pence nominal value each
GB00BYNVD082 | ||||
b) | Nature of the transaction | Grant of nil-cost option over Ordinary Shares under the McCarthy & Stone plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
27,389 £0.00 | ||||
e) | Date of the transaction | 2020-08-04 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information, please contact:
Scott Brooker
Deputy Group Company Secretary
07976 670155
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