Last checked at 22 Dec 2023 10:36
SMITH & NEPHEW PLC
22 December 2023
NOTIFICATION AND PUBLIC DISCLOSURE IN ACCORDANCE WITH THE REQUIREMENTS OF THE EU MARKET ABUSE REGULATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMR") AND PERSONS CLOSELY ASSOCIATED WITH THEM.
On 21 December 2023, the following award of US$0.20 ordinary shares (the "Shares") in Smith & Nephew plc (the "Company") vested under an award agreement to Deepak Nath.
VESTING OF A PERFORMANCE AWARD GRANTED UNDER THE AWARD AGREEMENT DATED 29 APRIL 2022
As set out in the announcement published on 3 May 2022, a Performance Award over 84,868 shares was granted to Deepak Nath with an expected vest date of 8 November 2023. The vest of this award was subject to the performance conditions applicable to the performance stock award over Siemens Healthineers AG ("SH") shares originally granted to Mr Nath by SH on 8 November 2019.
In accordance with the terms of the award agreement, the expected vest date of 8 November 2023 was delayed so that the applicable performance criteria attaching to the Performance Award could be measured against the financial results of SH which were announced on 8 November 2023. It has been determined that, following completion of the performance measurement period, 99.98% of the award vests. 84,855 shares were therefore available for vest with the remaining balance of shares, 13, lapsing with immediate effect.
Reason for the notification | |
Initial notification /Amendment | Initial notification |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
Name | Smith & Nephew plc |
LEI | 213800ZTMDN8S67S1H61 |
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 | |
Description of the financial instrument, type of instrument
| Smith & Nephew plc ordinary shares of USD 0.20 each
|
Identification code | ISIN: GB0009223206 |
Nature of the transaction | Vest of a Performance Award granted on 29 April 2022 under the award agreement. |
Date of Transaction | 2023 - 12 - 21 |
Place of Transaction | London Stock Exchange (XLON) |
Name (Position) |
Status | Price (£) | Volume | Aggregated information |
Deepak Nath (Chief Executive Officer) | Director | 10.6125 | 84,855 (of which 34,479 shares were sold to cover taxes due and 50,376 shares were retained) | N/A Single Transaction |
Sarah Carne
Deputy Company Secretary
Smith & Nephew plc
Tel: +44 (0)1923 477100