Last checked at 28 Sep 2023 15:24
QinetiQ Group plc
28 September 2023
QinetiQ Group plc (the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities or persons closely associated with them
The 2023 Remuneration Policy was approved at the Annual General Meeting ("AGM") on 20 July 2023. The outturn of the Company's new Long-term Performance Award ("LPA") will be determined by the cumulative performance against our ambitious long-term key financial metrics of revenue growth, earnings and return on capital employed ("ROCE").
The Company advises that on 28 September 2023, the individuals named below, each a Person Discharging Managerial Responsibility ("PDMR"), were granted conditional awards of Ordinary Shares of 1 pence each in the Company ("Shares"). The maximum opportunity, for exceptional levels of performance, is up to the grant as detailed in the table below:
First Name | Number of Shares | Normal Vesting Date |
Steve Wadey | 521,352 | 28 September 2026 |
Carol Borg | 338,489 | 28 September 2026 |
Further information
LPA Awards are subject to performance over a three year performance period and are normally also subject to continued employment within the Company's group. The number of Shares that will vest under the LPA Award is therefore conditional upon the satisfaction performance conditions and continued employment (subject to the terms and conditions of the LPA approved by shareholders at the 2023 AGM). A full description of the LPA is available in the Company's 2023 AGM notice.
The LPA Awards will normally vest on the third anniversary of the date of grant. Post vesting clawback applies to these LPA Awards.
The LPA Awards were approved by the Company's Remuneration Committee and the Company was notified of the grant of awards on 28 September 2023. This transaction took place in London.
Notification and public disclosure of transactions by persons discharging managerial Responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Steve Wadey | ||||
2 | Reasons for the Notification | |||||
a) | Position / status | Chief Executive Officer/Director | ||||
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 ("QinetiQ") | ||||
b | LEI | N/A | ||||
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 | QinetiQ Group plc ordinary shares of 1 pence GB00B0WMWD03 | ||||
b) | Nature of the transaction | Grant of conditional awards over 521,352 Ordinary Shares under the QinetiQ Group plc Long Term Performance Award | ||||
c) | Currency | GBP - British Pound | ||||
d) | Price(s) and volume(s)
|
| ||||
e) | Aggregated information - Aggregated volume - Price |
Single Transaction | ||||
f) | Date of the transaction | 28-09-2023 | ||||
g) | Place of the transaction | London Stock Exchange (XLON) (Main Market) | ||||
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Carol Borg | ||||
2 | Reasons for the Notification | |||||
a) | Position / status | Chief Financial Officer/Director | ||||
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 ("QinetiQ") | ||||
b | LEI | N/A | ||||
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 | QinetiQ Group plc ordinary shares of 1 pence GB00B0WMWD03 | ||||
b) | Nature of the transaction | Grant of conditional awards over 338,489 Ordinary Shares under the QinetiQ Group plc Long Term Performance Award | ||||
c) | Currency | GBP - British Pound | ||||
d) | Price(s) and volume(s)
|
| ||||
e) | Aggregated information - Aggregated volume - Price |
Single Transaction | ||||
f) | Date of the transaction | 28-09-2023 | ||||
g) | Place of the transaction | London Stock Exchange (XLON) (Main Market) | ||||