Last checked at 16 Oct 2018 13:00
SuperdryPlc
("Superdry" or "the Company")
16 October 2018
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMR") and persons closely associated with them ("PCA")
Superdry Performance Share Plan ("PSP"): Grant of 2018 Conditional Share Award
On 15 October 2018, the PDMR named below was granted a conditional share award over Ordinary Shares under the terms of the Superdry 2018 Performance Share Plan ("PSP"). Details of the number of Ordinary Shares subject to such award are set out in the table immediately below.
Name / Position of PDMR | Number of Ordinary Shares Purchased for Reinvestment |
Brigitte Danielmeyer - Chief Product Officer | 30,172 |
The PDMR notified the Company of the above transaction on 15 October 2018.
No consideration was paid for the grant of these awards which are structured as conditional awards.
The vesting of an award is subject to the satisfaction of the following performance conditions, measured over a performance period of three financial years of the Company ending with the 2020/2021 financial year (the "performance period"):
1. 70% of the award is based on the compound annual growth rate ("CAGR") in the Company's earnings per share ("EPS") measured over the performance period.
· 25% of the EPS-related part of the award will vest if the CAGR in the EPS is 8%, increasing on a straight-line basis to 50% vesting if the CAGR in the EPS is 10% and increasing on a straight-line basis to 100% vesting if the CAGR in the EPS is 12% or more.
2. 30% of the award is based on comparing the Company's total shareholder return ("TSR") measured over the performance period against the TSR over the performance period of each company in a bespoke group of companies ("Comparator Group").
· 25% of the TSR-related part of the award will vest if the Company's TSR is ranked at the median of the companies in the Comparator Group by reference to their TSR, increasing on a straight-line basis to 100% vesting if the Company's TSR is ranked at the upper quartile or above of the companies in the Comparator Group by reference to their TSR.
Performance against each target is assessed independently. The award will normally vest on the later of the third anniversary of grant and the determination of the performance conditions. The awards are subject to the rules of the PSP and in particular the malus and clawback provisions set out therein.
The Company makes this announcement, including the notification(s) below, in accordance with the requirements of the EU Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name
| Brigitte Danielmeyer
| ||||
2
| Reason for the notification
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a)
| Position/status
| Chief Product Officer/PDMR
| ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Superdry Plc | ||||
b)
| LEI
| 213800GAQMT2WL7BW361 | ||||
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 5 pence each
ISIN: GB00B60BD277
| ||||
b)
| Nature of the transaction
| Grant of conditional share award under the Superdry 2018 Performance Share Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
|
| ||||
e)
| Date of the transaction
| 15 October 2018 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
The number of Ordinary Shares granted under this Conditional Share Award was calculated by taking the PDMR's salary and dividing it by the average share price during the 10 dealing days preceding the Grant Date.
For further information:
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|
Superdry Plc |
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Simon Callander Group General Counsel and Company Secretary | +44 (0) 1242 586643 |