Softcat Regulatory News (SCT)

Softcat plc (the "Company")

Notification of Transactions by

Persons Discharging Managerial Responsibilities

The following notification relates to the award of nil-cost options to person discharging managerial responsibilities ("PDMR") on 4 April 2018 under the Softcat plc Long Term Incentive Plan ("LTIP").  

Softcat plc Long Term Incentive Plan

On 4 April 2018, an award of nil-cost options to acquire 66,864 shares was made to Graeme Watt, a director and PDMR. The number of shares over which the nil-cost option was awarded has been calculated by reference to the closing middle market quotation of the ordinary shares derived from the Daily Official List on the dealing day preceding the date of grant (6.73 pence). The award will vest subject to the performance conditions outlined below.

Performance Conditions and Vesting of Awards

These nil-cost options are subject to the rules of the LTIP and will vest depending on performance against Total Shareholder Return ("TSR") and Earnings per Share ("EPS") targets as measured over a three year performance period.

50% of the Award will be subject to the Company's relative TSR performance against the FTSE 250 (excluding real estate and investment trusts):

TSR performance % of Award vesting

Below median Nil

At median 30%

Upper quartile or above 100%

50% of the Award will be subject to the Company's EPS for FY 2020:

EPS Growth % of Award vesting

Less than 23.7 pence Nil

23.7 pence 20%

26.9 pence or above 100%

There will be straight line vesting between the points as outlined above.

The normal date of vesting for the nil-cost options outlined above will be 4 April 2021 and the last date for exercise will be 3 April 2028, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP.

For further information on the LTIP, please refer to the Company's Annual Report and Accounts.