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Last checked at 
9 Apr 2026 14:58
THE UNITE GROUP PLC
GRANT OF LTIP AWARDS AND DIRECTOR/PDMR NOTIFICATION
|
Pursuant to the long term incentive plan of the Company, conditional awards over ordinary shares of 25p each ("Shares") have been granted to the Company's Executive Directors, namely Mr Joe Lister (Chief Executive Officer) and Mr Michael Burt (Chief Financial Officer) on 8 April 2026 as follows:
Director | Number of Shares subject to award granted |
Joe Lister | 244,488 |
Michael Burt | 167,034 |
The Remuneration Committee has determined to grant an award to Mr Joe Lister and Mr Michael Burt of 175% salary respectively, compared to the normal and maximum grant level of 200% salary. This reduced grant level acknowledges the recent share price decline of the Group and is intended to mitigate against windfall gains.
The number of ordinary shares over which the awards were granted was calculated based on a price of 456.4p per share, being the closing mid-market price on the day prior to the date of grant.
The number of awards vesting will be determined by reference to performance conditions comprising: EPRA adjusted earnings per share ('EPS'), relative total accounting return ('TAR'), relative total shareholder return ('TSR') and reduction in operational energy intensity ('OEI') over the three-year measurement period ending 31 December 2028.
A two-year holding period applies and so the awards will vest on 8 April 2031, the fifth anniversary of the date of grant.
Performance targets for TAR and TSR were disclosed prospectively in the 2025 Directors' Remuneration Report.
The Committee has now agreed the performance targets for the EPS and OEI elements as follows:
· EPS: A threshold vesting target of 43.3p and a maximum vesting target of 48.3p.
· OEI: A threshold vesting target of 3% reduction and a maximum vesting target of 9% reduction. This will be measured from a 2025 combined Group baseline across our residential buildings of 110.3 kWh/m2.
The Remuneration Committee considers that these targets are appropriate and stretching, taking into account the Company's strategic priorities and the broader commercial environment, and having reviewed a range of relevant internal and external reference points.
This notification is made in accordance with the requirements of the Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Joe Lister | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| 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
| The Unite Group plc | ||||
b)
| LEI
| 213800BBUUWVDH9YI827 | ||||
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 25p each
GB0006928617 | ||||
b)
| Nature of the transaction | Grant of LTIP Awards
| ||||
c)
|
Price(s) and volume(s) |
| ||||
d)
| Aggregated information
- Aggregated volume
- Price |
As above
Nil
| ||||
e)
| Date of the transaction
| 8 April 2026 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
|
Details of the person discharging managerial responsibilities / person closely associated | |||||
a)
| Name
| Michael Burt
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| 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
| The Unite Group plc | ||||
b)
| LEI
| 213800BBUUWVDH9YI827 | ||||
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 25p each
GB0006928617 | ||||
b)
| Nature of the transaction | Grant of LTIP Awards | ||||
c)
|
Price(s) and volume(s) |
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
As above
Nil | ||||
e)
| Date of the transaction
| 8 April 2026 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
- ENDS -
About Unite Group plc
Unite Group plc is the UK's largest owner, manager and developer of purpose-built student accommodation (PBSA) serving the country's world-leading higher education sector. Its property portfolio includes the Unite Students and Hello Student brands. Together, the Group provides homes for 72,000 students across 208 properties in 29 leading university towns and cities across the UK.
Our people are driven by a shared purpose: to provide a 'Home for Success' for the students who live with us. Our accommodation is safe, secure, high quality and affordable, with students living predominantly in en‑suite study bedrooms. Rents are all‑inclusive, covering bills, insurance, 24‑hour security and high‑speed Wi‑Fi.
We are committed to raising standards across the student accommodation sector for our customers, investors and employees. Our Sustainability Strategy includes a commitment to become net zero carbon across our operations and developments by 2030.
Founded in 1991 in Bristol, Unite Group plc is an award‑winning Real Estate Investment Trust (REIT) listed on the London Stock Exchange. For more information, visit www.unitegroup.com, www.unitestudents.com or www.hellostudent.co.uk.
For further information, please contact:
Unite Students
Joe Lister / Mike Burt / Saxon Ridley Tel: +44 117 302 7005
Press office Tel: +44 117 450 6300
Sodali & Co
Ben Foster / Sam Austrums / Louisa Henry Tel: +44 20 7250 1446
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