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26 Oct 2021 18:17
Ricardo PLC
Director / PDMR Shareholdings
27 October 2021
London
1. 2011 Deferred Bonus Plan - vesting of awards granted in 2018 with a 3 year deferral period
Ricardo PLC (the "Company") announces that, on 25 October 2021, a total of 13,196 ordinary shares of 25 pence each ("Shares") vested in favour of an Executive Director and other Persons Discharging Managerial Responsibilities ("PDMRs") under the terms of the Company's 2011 Deferred Bonus Plan ("DBP"). These awards (which included dividend entitlements) were granted on 25 October 2018. They vested following the end of a three year Deferral Period and were not subject to performance conditions. Further details of this vesting are provided below.
Name | Role | No. of Shares that vested on 25 October 2021 |
Ian Gibson | Executive Director | 10,416 |
Tim Curtis | PDMR | 120 |
Paul Seller | PDMR | 1,026 |
Gary Tan | PDMR | 1,634 |
2. 2011 Deferred Bonus Plan - vesting of awards granted in 2019 with a 2 year deferral period
The Company also announces that on 25 October 2021, a total of 3,318 Shares vested in favour of certain PDMRs under the terms of the DBP. These awards (which included dividend entitlements) were granted on 24 October 2019. They vested following the end of a one year Deferral Period and were not subject to performance conditions. Further details of this vesting are provided below.
Name | Role | No. of Shares that vested on 25 October 2021 |
Paul Seller | PDMR | 355 |
Tim Curtis | PDMR | 1,146 |
Chester Gryczan | PDMR | 1,192 |
Gary Tan | PDMR | 625 |
3. Lapse of awards granted in 2018
The Company also announces that the remuneration committee of its board of directors has completed its assessment of the performance conditions governing:
· the LTIP cycle 12 awards that had originally been granted to the Executive Directors and PDMRs on 25 October 2018 under the Company's 2014 Long Term Incentive Plan; and
· the bonus-linked share awards that had originally been granted to the Executive Directors and PDMRs on 25 October 2018 under the DBP,
and concluded that these awards would lapse immediately and cease to exist.
4. Realisation of value of shares
Immediately on vesting of the above awards, the Executive Director and other PDMRs realised value in respect of the following Shares at a price of £4.27:
Name | Role | No. of Shares realised for value on 25 October 2021 |
Ian Gibson | Executive Director | 4,896 |
Tim Curtis | PDMR | 1,266 |
Chester Gryczan | PDMR | 1,192 |
Paul Seller | PDMR | 1,381 |
Gary Tan | PDMR | 0 |
5. Net current total holdings of Shares
Following the above notifications, the total holdings of Shares of the relevant PDMRs are as follows:
Name | Role | Total holding following this notification | Approximate % of Company's issued share capital |
Ian Gibson | Executive Director | 60,854 | 0.098% |
Tim Curtis | PDMR | 1,079 | 0.002% |
Chester Gryczan | PDMR | 0 | 0.000% |
Paul Seller | PDMR | 0 | 0.000% |
Gary Tan | PDMR | 4,509 | 0.007% |
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Ian Gibson | ||||
2 | Reason for the notification | |||||
a) | Position/status | PDMR: 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 | Ricardo plc | ||||
b) | LEI | 213800ZNYAY35F4XB814 | ||||
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 | Ordinary shares of 25p each ("Shares") | ||||
Identification code | GB0007370074 | |||||
b) | Nature of the transaction | Vesting of award granted on 25 October 2018 pursuant to the terms of the Ricardo plc 2011 Deferred Bonus Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2021-10-25 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 | Ordinary shares of 25p each ("Shares") | ||||
Identification code | GB0007370074 | |||||
b) | Nature of the transaction | Shares realised for value | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 2021-10-25 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Tim Curtis | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR: Managing Director - Energy and Environment | ||||||
b) | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Ricardo plc | ||||||
b) | LEI | 213800ZNYAY35F4XB814 | ||||||
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 | Ordinary shares of 25p each ("Shares") | ||||||
Identification code | GB0007370074 | |||||||
b) | Nature of the transaction | Vesting of awards granted on 25 October 2018 and 24 October 2019 pursuant to the terms of the Ricardo plc 2011 Deferred Bonus Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
1,266 £0 | ||||||
e) | Date of the transaction | 2021-10-25 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
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 | Ordinary shares of 25p each ("Shares") | ||||||
Identification code | GB0007370074 | |||||||
b) | Nature of the transaction | Shares realised for value | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||||
e) | Date of the transaction | 2021-10-25 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Chester Gryczan | ||||
2 | Reason for the notification | |||||
a) | Position/status | PDMR: President - Ricardo Defense Systems | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Ricardo plc | ||||
b) | LEI | 213800ZNYAY35F4XB814 | ||||
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 | Ordinary shares of 25p each ("Shares") | ||||
Identification code | GB0007370074 | |||||
b) | Nature of the transaction | Vesting of award granted on 24 October 2019 pursuant to the Ricardo plc 2011 Deferred Bonus Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable
| ||||
e) | Date of the transaction | 2021-10-25 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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 | Ordinary shares of 25p each ("Shares") | ||||
Identification code | GB0007370074 | |||||
b) | Nature of the transaction | Shares realised for value | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 2021-10-25 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Paul Seller | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR: Managing Director - Ricardo Rail | ||||||
b) | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Ricardo plc | ||||||
b) | LEI | 213800ZNYAY35F4XB814 | ||||||
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 | Ordinary shares of 25p each ("Shares") | ||||||
Identification code | GB0007370074 | |||||||
b) | Nature of the transaction | Vesting of awards granted on 25 October 2018 and 24 October 2019 pursuant to the terms of the Ricardo plc 2011 Deferred Bonus Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
1,381 £0 | ||||||
e) | Date of the transaction | 2021-10-25 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
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 | Ordinary shares of 25p each ("Shares") | ||||||
Identification code | GB0007370074 | |||||||
b) | Nature of the transaction | Shares realised for value | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||||
e) | Date of the transaction | 2021-10-25 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Gary Tan | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR: Managing Director - Asia | ||||||
b) | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Ricardo plc | ||||||
b) | LEI | 213800ZNYAY35F4XB814 | ||||||
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 | Ordinary shares of 25p each ("Shares") | ||||||
Identification code | GB0007370074 | |||||||
b) | Nature of the transaction | Vesting of awards granted on 25 October 2018 and 24 October 2019 pursuant to the terms of the Ricardo plc 2011 Deferred Bonus Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
2,259 £0 | ||||||
e) | Date of the transaction | 2021-10-25 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
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