Last checked at 9 Oct 2023 14:46
9th October 2023
Severfield plc
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
The following notification relates to the vesting and exercise of nil cost share options granted under the Severfield Deferred Share Bonus Plan ("the Plan") on 28th June 2019 and 5th October 2020. These options vested on 28th June 2022 and 5th October 2023 respectively and were exercised and settled as set out below.
In accordance with the rules of the Plan and the Company's Directors' Remuneration Policy, where directors chose to exercise and sell the shares they would have acquired, they received a cash payment. This only applied to directors who already satisfy the Company's shareholding requirement. In accordance with the rules of the Plan, where directors chose to exercise and keep their shares, they were awarded shares out of the Severfield EBT to the value of the after tax benefit, with the tax being settled in cash.
2019 DSBP
Name | Number of shares awarded on 28th June 2019 | Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment | Cash paid to settle tax calculated at a share price of £0.61 | Cash to be paid to participant after tax calculated at a share price of £0.61 | Shares retained by individual |
Alan Dunsmore | 50,724 | 57,884 | £16,595 | n/a | 30,678 |
2020 DSBP
Name | Number of shares awarded on 5 October 2020 | Number of shares vested and exercised on 5th October 2023 after dividend equivalent adjustment | Cash paid to settle tax calculated at a share price of £0.61 | Cash to be paid to participant after tax calculated at a share price of £0.61 | Shares retained by individual |
Alan Dunsmore | 194,314 | 222,158 | £63,693 | £71,823 | 0 |
Derek Randall | 164,474 | 188,042 | £30,425 | £84,280 | 0 |
Adam Semple | 127,410 | 145,667 | £41,763 | n/a | 77,203 |
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||||||
a) | Name | Alan Dunsmore | ||||||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||||||
a) | Position/status | CEO | ||||||||||||||||||||||||
b) | Initial notification/Amendment | Initial notification | ||||||||||||||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||||||
a) | Name | Severfield plc | ||||||||||||||||||||||||
b) | LEI | 21380025AWPR781CY104 | ||||||||||||||||||||||||
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 |
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b) | Nature of the transaction | 1. Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment. 2. Exercise of DSBP award and settlement of that exercise with a cash payment. | ||||||||||||||||||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
| Not applicable-single transaction | ||||||||||||||||||||||||
e) | Date of the transaction | 2023-10-05
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f) | Place of the transaction | Outside a trading venue | ||||||||||||||||||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Derek Randall | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Director | ||||||
b) | Initial notification/Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Severfield plc | ||||||
b) | LEI | 21380025AWPR781CY104 | ||||||
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 |
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b) | Nature of the transaction | Exercise of DSBP award and settlement of that exercise with a cash payment. | ||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
| Not applicable-single transaction | ||||||
e) | Date of the transaction | 2023-10-05
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f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||
a) | Name | Adam Semple | ||||||||||||
2 | Reason for the notification | |||||||||||||
a) | Position/status | CFO | ||||||||||||
b) | Initial notification/Amendment | Initial notification | ||||||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
a) | Name | Severfield plc | ||||||||||||
b) | LEI | 21380025AWPR781CY104 | ||||||||||||
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 |
| ||||||||||||
b) | Nature of the transaction | Exercise of DSBP award and settlement of that exercise partly in shares and partly with a cash payment. | ||||||||||||
c) | Price(s) and volume(s) |
| ||||||||||||
d) | Aggregated information
| Not applicable-single transaction | ||||||||||||
e) | Date of the transaction | 2023-10-05
| ||||||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||||||