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1 Jul 2020 10:46
QinetiQ Group plc (the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities or persons closely associated with them
On 30 June 2020, the following Directors and Persons Discharging Managerial Responsibility ("PDMR") were granted awards ("Awards") over ordinary shares in the Company ("Shares"), under the Company's 2017 Group Incentive Plan (the "Plan").
As noted in the Remuneration Committee Chair's statement in the FY20 Annual Report, to manage cash outflow in June 2020, as per QinetiQ's measures to respond to COVID-19, the Bonus Banking Plan awards which are annually granted under the Plan to the CEO and CFO, and previously payable in cash, will this year instead be delivered in Shares under that same Plan. Normally, the awards paid out under the Bonus Banking Plan would not be subject to any holding period; however, the Award Shares will be made subject to a one-year holding period in accordance with the Plan rules. More information can be found on page 100 of the Annual Report.
The Awards are therefore equivalent to the value that was due to be paid out in cash in respect of the Bonus Banking Plan awards for the financial year ended 31 March 2020. Shares subject to the Awards are expected to be delivered under the Plan on 11 August 2020, at which point the one-year holding period will commence.
Name of Director/PDMR | Number of Shares Awarded |
Steve Wadey | 318,006 |
David Smith | 238,598 |
A further announcement will be made on 11 August 2020 (or as close as possible to this date) relating to the delivery of Shares in respect of these Awards, and the sale of such Shares to cover the PDMRs income tax and employees National Insurance Contributions, as applicable.
1. | Details of PDMR / person closely associated with them ("PCA") | ||
(a) | Name | Steve Wadey | |
2. | Reason for the notification | ||
(a) | Position / status | Chief Executive Officer | |
(b) | Initial notification / amendment | Initial notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
(a) | Name | QinetiQ Group plc | |
(b) | Legal Entity Identifier Code | 213800S8OBDOZMCMUW34 | |
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
Identification code
|
QinetiQ Group plc ordinary shares of 1 pence
GB00B0WMWD03 | |
(b) | Nature of the transaction | Award of ordinary shares under the 2017 QinetiQ Group plc Incentive Plan (the "Plan") (subject to a a one-year holding period) | |
(c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 318,006 | ||
(d) |
Aggregated information
- Price
- Volume
- Total
|
N/A
| |
(e) | Date of the transaction | 2020-06-30 | |
(f) | Place of the transaction | Outside of trading venue | |
QinetiQ Group plc (the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities or persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | ||
(a) | Name | David Smith | |
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 | QinetiQ Group plc | |
(b) | Legal Entity Identifier Code | 213800S8OBDOZMCMUW34 | |
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
Identification code
|
QinetiQ Group plc ordinary shares of 1 pence
GB00B0WMWD03 | |
(b) | Nature of the transaction | Award of ordinary shares under the 2017 QinetiQ Group plc Incentive Plan (the "Plan") (subject to a one-year holding period) | |
(c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 238,598 | ||
(d) |
Aggregated information
- Price
- Volume
- Total
|
N/A
| |
(e) | Date of the transaction | 2020-06-30 | |
(f) | Place of the transaction | Outside of trading venue | |
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