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14 May 2026 10:39
14 May 2026
Award of Shares to Persons Discharging Management Responsibilities ("PDMRs") of Spirax Group plc (the "Company")
Further to the announcement made on 26 March 2026 regarding awards granted under the Company's 2023 Performance Share Plan ("2023 PSP"), the Company confirms that, following shareholder approval at the Company's 2026 Annual General Meeting of the updated Remuneration Policy and the Company's Share Award Plan Rules, (Share Rules) the following additional awards have been approved.
As disclosed in the Company's 2025 Annual Report and Accounts, Nimesh Patel, Group Chief Executive Officer, was awarded a Performance Share Plan ("PSP") award for the 2026 grant cycle in two parts.
In March 2026, an initial award equivalent to 250% of base salary was granted in accordance with the Company's existing Remuneration Policy. The remaining part of the award was subject to shareholder approval of the new Remuneration Policy and the Share Rules, which has now been obtained at the Company's 2026 Annual General Meeting on 13 May 2026.
Following that approval, the Remuneration Committee has granted the second part of Nimesh Patel's 2026 PSP award of 6,193 shares. Consistent with the disclosure in the Company's Annual Report 2025, this award has been granted using the same March 2026 grant price, and on the same performance conditions and vesting timetable as the initial March 2026 award.
Further to the disclosure in the 2025 Directors' Remuneration Report, the Company confirms that an additional award has been approved for Louisa Burdett, Group Chief Financial Officer.
An administrative error resulted in Louisa's March 2025 PSP award being calculated at 125% of her 2025 base salary, rather than the intended 175%, as disclosed in the Annual Report 2024. To correct this error, a further award in respect of the shortfall of 4,171 shares has been granted today, on the same terms and conditions as the original March 2025 PSP award.
The awards described above will vest subject to the achievement of the applicable performance conditions over the relevant performance periods and are subject to the post‑vesting holding requirements set out in the Remuneration Policy.
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
| Nimesh Patel | |||
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
| Spirax Group plc | |||
b)
| LEI
| 213800WFVZQMHOZP2W17 | |||
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 | 2612/13p Ordinary Shares | |||
Identification code | ISIN: GB00BWFGQN14 | ||||
b)
| Nature of the transaction
| A conditional award of ordinary shares in the Company's 2023 PSP.
| |||
c)
| Price(s) and volume(s) | Price(s) | Volume(s) | ||
£65.67 | 6,193 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 6,193 | ||||
- Aggregated Price per share | £65.67 | ||||
e)
| Date of the transaction
| 14 May 2026 | |||
f)
| Place of the transaction
| Outside a trading venue | |||
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
| Louisa Burdett | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Group Chief Financial Officer | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Spirax Group plc | |||
b)
| LEI
| 213800WFVZQMHOZP2W17 | |||
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 | 2612/13p Ordinary Shares | |||
Identification code | ISIN: GB00BWFGQN14 | ||||
b)
| Nature of the transaction
| A conditional award of ordinary shares in the Company's 2023 PSP. | |||
c)
| Price(s) and volume(s) | Price(s) | Volume(s) | ||
£71.92 | 4,171 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 4,171 | ||||
- Aggregated Price per share | £71.92 | ||||
e)
| Date of the transaction
| 14 May 2026 | |||
f)
| Place of the transaction
| Outside of a trading venue | |||
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