Last checked at 28 Apr 2023 13:00
28 April 2023
Taylor Wimpey plc
Director / PDMR Shareholding
This information set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
The Directors named below have been granted a conditional nil cost share award under the Taylor Wimpey Performance Share Plan.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| 1. Jennie Daly 2. Chris Carney | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| 1. Chief Executive 2. Group Finance Director | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Taylor Wimpey plc | ||||
b)
| LEI
| 21380089BTRXTD8S3R66
| ||||
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 1 pence each
GB0008782301
| ||||
b)
| Nature of the transaction
| Conditional nil cost performance share awards made under the 2017 Taylor Wimpey Performance Share Plan
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
2,019,637
124.25 pence
| ||||
e)
| Date of the transaction
| 28 April 2023 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
The performance conditions relating to the awards are as follows:
Performance Measure | Weighting | Threshold | Maximum |
Total Shareholder Return over three financial years to 31 December 2025 | 40% | Median | Upper Quartile |
Operating Profit Margin in 2025 | 15% | 13% | 18% |
RONOA in 2025 | 15% | 14% | 19% |
Customer Service 9-month in 2025 | 15% | 78.5% | 81.5% |
Carbon Reduction in 2025 (from a 2019 baseline) | 15% | 34% | 38% |
Recognising the outlook over the performance period for lower profitability across the entire housing sector and continuing economic uncertainty, the Remuneration Committee has set the target ranges for Operating Profit Margin and RONOA at lower levels and with a broader range between threshold and maximum than in previous years, to provide the appropriate balance between setting targets that are achievable, but at the same time stretching.
The target ranges for all measures are, in the view of the Remuneration Committee, equivalently challenging to the ranges set in prior years.
-Ends-
For further information please contact:
Taylor Wimpey plc
Ishaq Kayani, Group General Counsel & Company Secretary Tel: +44 (0) 1494 885 614