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28 Jul 2021 15:43
DIRECTOR/PDMR NOTIFICATIONOCADO GROUP PLC
28 July 2021
Ocado Group plc (the "Company")Director/PDMR Notification
Following the approval of the Company's 2019 Value Creation Plan (the "VCP") by the Company's shareholders at the 2019 Annual General Meeting (the "2019 AGM"), the Company hereby announces a further grant of "Participation Rights" under the VCP.
"Participation Rights" under the VCP entitle the participant to receive, subject to the rules of the VCP, a proportion (the "Participant Percentage") of the Company's total shareholder return above a threshold annual compound growth rate of 10%.
This value can either be delivered through (i) the grant of nil-cost options over ordinary shares in the Company ("Shares") following the announcement of the Company's annual results for the 2019, 2020, 2021, 2022 and 2023 financial years or (ii) the participant's acquisition of Shares (at the time the related "Participation Right" is granted) which are held jointly with the Company's employee benefit trust (the "EBT") in accordance with the rules of the VCP and which will vest on the same timetable as nil-cost option awards.
Stephen Daintith shall receive his Participant Percentage in the form of a nil cost option. He has no rights in respect of the Plan relating to the 2019 and 2020 Financial Years. The details of the grant are set out below.
1 | Details of the person discharging managerial responsibilities/person closely associated
| ||||
a) | Name
| Stephen Daintith | |||
2 | Reason for the notification
| ||||
a) | Position/status
| Chief Financial Officer | |||
b) | Initial notification/ Amendment
| Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a) | Name
| Ocado Group plc | |||
b) | LEI
| 213800LO8F61YB8MBC74 | |||
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 2 pence each in Ocado Group plc ("Shares")
ISIN GB00B3MBS747 | |||
b) | Nature of the transaction
| Grant of a conditional right, subject to the rules of the VCP, to receive the value by which the Company's total shareholder return exceeds a compound annual growth rate of 10%, multiplied by a Participation Percentage of 0.25% (the "Award Value"). The Award Value will be delivered following the assessment of the Company's total shareholder return after the end of each of the 2021, 2022 and 2023 financial years of the Company by the grant of a nil-cost option over Shares. | |||
c) | Price(s) and volume(s)
| Price(s)
| Volume(s) | ||
£0 | £0
| ||||
d) | Aggregated information
- Aggregated volume
- Price
| Price | Aggregated volume | Aggregate total | |
£0 | 0 | £0 | |||
e) | Date of the transaction
| 27 July 2021 | |||
f) | Place of the transaction
| Outside a regulated market | |||
This announcement is made in accordance with Article 19 of the Market Abuse Regulation and the Disclosure Guidance and Transparency Rules.
Person responsible for arranging the release of this announcement:
Robert CooperDeputy Company SecretaryOcado Group plcBuildings One & Two Trident PlaceMosquito WayHatfieldHertfordshireAL10 9ULFax: +44 (0)1707 227997email: robert.cooper@ocado.com
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