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8 Aug 2019 11:00
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code:
RMG ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
8 August 2019
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility
Long Term Incentive Plan 2019 (LTIP 2019) Grant
On 8 August 2019, the PDMRs listed below were granted conditional share awards over ordinary shares in Royal Mail plc under the Royal Mail LTIP 2019. The number of shares awarded under the LTIP 2019 is set out in the table below, which is the maximum grant that the PDMRs are eligible for, and will only vest in full if the maximum performance condition is achieved.
PDMR | Number of shares |
Rico Back | 349,905 |
Stuart Simpson | 246,027 |
Achim Dunnwald | 182,242 |
Shane O'Riordain | 170,092 |
Christian Herrlich | 127,569 |
Sally Ashford | 145,793 |
Mel Tomlin | 83,831 |
The LTIP 2019 share awards will normally vest at the end of the three year performance period, once the Remuneration Committee has determined achievement against the performance condition. The earliest release date will be 8 August 2022, subject to the participant continuing to hold office or employment within the Royal Mail Group, and then subject to a two year holding period.
In addition, a conditional share award over ordinary shares in Royal Mail plc was also granted on 8 August 2019 to James Rietkerk, under the GLS LTIP 2019. This share award will normally vest on the third anniversary of the Grant Date, subject to the achievement of performance conditions. The number of shares awarded under the GLS LTIP 2019 is listed below:
PDMR | Number of shares |
James Reitkerk | 80,253 |
No consideration was paid for the grant of the share awards.
Long Term Incentive Plan 2016 (LTIP 2016) Vesting
On 8 August 2019, shares were due to vest under the Royal Mail plc (the "Company") LTIP. As a result of the Company not achieving the performance targets relating to the LTIP 2016, the Persons Discharging Managerial Responsibility ('PDMRs') listed below did not receive any shares.
PDMRs | No. of Shares |
Stuart Simpson | Nil |
Shane O'Riordain | Nil |
Sally Ashford | Nil |
Mel Tomlin | Nil |
The shares have vested under the GLS LTIP 2016 to the PDMRs listed below.
The shares shown for Rico Back are from the second tranche of the GLS LTIP 2016, with a performance period of April 2017 to March 2018, during which time Rico Back was CEO, GLS. The vesting of the second tranche of the GLS LTIP 2016 also includes a cash award of €184,819 for Rico Back.
The shares vesting for James Rietkerk are for the second and third tranches of the GLS LTIP 2016, with performance periods April 2017 to March 2018 and April 2018 to March 2019 respectively. These two tranches also include a cash award of £87,220 for James Rietkerk.
PDMR | No. of Shares |
Rico Back | 39,921 |
James Rietkerk | 22,422 |
Executive Directors are required to retain any share-based awards until they achieve a shareholding equivalent of 200 per cent of salary. All other PDMRs are required to retain a shareholding equivalent of 100 per cent of salary.
The below notifications, made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation, give further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Rico Back
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group 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
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
349,905
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019
| ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Stuart Simpson
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group Chief Finance and Operating Officer
| ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
246,027
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019
| ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Achim Dunnwald
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Strategy and Transformation Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
182,242
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019
| ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Shane O'Riordain
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Managing Director of Corporate Affairs, Regulation and Marketing | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
170,092
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Christian Herrlich
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group Chief Information Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
127,569
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019
| ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Sally Ashford
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief HR Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
145,793
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019
| ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Mel Tomlin
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief of Staff | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
83,831
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019
| ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | James Rietkerk
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| GLS 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
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the GLS Long Term Incentive Plan 2019 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
80,253
Nil
| ||||
e)
| Date of the transaction
| 8 August 2019
| ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Rico Back
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group 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
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares pursuant to an exercise of options under the GLS 2016 Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
39,921
£2.216
| ||||
e)
| Date of the transaction
| 7 August 2019 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | James Rietkerk
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| GLS 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
| Royal Mail plc | ||||
b)
| LEI
| 213800TCZZU84G8Z2M70 | ||||
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 £0.01 each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares pursuant to an exercise of options under the GLS 2016 Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
22,422
£2.216
| ||||
e)
| Date of the transaction
| 7 August 2019 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
For further information, please contact:
Contacts:
Company Secretariat
Mark Amsden
Phone: 020 7449 8289
Email: cosec@royalmail.com
Media
Beth Longcroft
Phone: 07435 768 549
Email: beth.longcroft@royalmail.com
Royal Mail press office out of hours: 020 7449 8246
Investor Relations
Catherine Nash
Phone: 020 7449 8183
Email: investorrelations@royalmail.com
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