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13 Aug 2020 16:47
QinetiQ Group plc (the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities or persons closely associated with them
Further to the announcement made on 30 June 2020 regarding Awards ("Awards") made over ordinary shares in the Company ("Shares") under the Company's 2017 Group Incentive Plan (the "Plan"), the Awards to the following Directors vested on 11 August 2020.
Sufficient Shares have been sold to satisfy Income Tax and National Insurance, with the balance subject to a one-year holding period. The average sale price was £3.070038.
| Vested Shares | Shares sold for Income Tax and National Insurance | Retained Shares |
Steve Wadey | 318,006 | 149,762 | 168,244 |
David Smith | 238,598 | 112,366 | 126,232 |
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 are 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.
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 | Vesting of shares under the 2017 QinetiQ Group plc Incentive Plan, sale of sufficient shares to satisfy Income Tax and National Insurance Contributions required to be withheld on release and transfer of balance subject to a one-year holding period. |
(c) | Price(s) and volume(s) | Price(s) Volume(s)
Vesting Nil 318,006
Sale of shares To satisfy income Tax and NICs liability £3.070038 149,762
Transfer of shares Nil 168,244
|
(d) |
Aggregated information
- Price
- Volume
- Total
|
Vesting: Price Nil / Volume: 318,006
Tax/NI sale: Price £3.070038 / Volume 149,762
Transfer: Price Nil / Volume 168,244
|
(e) | Date of the transaction | Vesting: 2020-08-11 Tax/NI sale: 2020-08-12 Transfer: 2020-08-12 |
(f) | Place of the transaction | London Stock Exchange XLON |
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 | Vesting of shares under the 2017 QinetiQ Group plc Incentive Plan, sale of sufficient shares in order to satisfy Income Tax and National Insurance Contributions required to be withheld on release and transfer of balance subject to a one-year holding period. |
(c) | Price(s) and volume(s) | Price(s) Volume(s)
Vesting Nil 238,598
Sale of shares To satisfy Income Tax and NICs liability £3.070038 112,366
Transfer of shares Nil 126,232
|
(d) |
Aggregated information
- Price
- Volume
- Total
|
Vesting: Price Nil / Volume: 238,598
Tax/NI sale: Price £3.070038 / Volume 112,366
Transfer: Price Nil / Volume 126,232
|
(e) | Date of the transaction | Vesting: 2020-08-11 Tax/NI sale: 2020-08-12 Transfer: 2020-08-12 |
(f) | Place of the transaction | London Stock Exchange XLON |
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