18 Mar 2022 13:00
18 March 2022
Rolls-Royce Holdings plc
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Rolls-Royce Holdings plc (the Company) announces that the following persons discharging managerial responsibilities (PDMRs) transacted in ordinary shares of 20p each in the Company due to the grant of awards under the Rolls-Royce Incentive Plan (Incentive Plan), the vest and lapse of awards under the Rolls-Royce Long-Term Incentive Plan (LTIP), and the vest of awards under the Rolls-Royce Deferred Share Bonus Plan (DSBP).
Incentive Plan
The following conditional share awards were granted under the Incentive Plan at a price of £0.9115 per share on 8 March 2022 in accordance with our Remuneration Policy approved by shareholders at the 2021 Annual General Meeting.
PDMR | Ordinary shares |
Warren East | 3,177,200 |
Panos Kakoullis | 1,316,606 |
Sarah Armstrong | 73,984 |
Tom Bell | 736,836 |
Chris Cholerton | 690,456 |
Mark Gregory | 532,810 |
Paul Stein | 458,909 |
Grazia Vittadini | 107,802 |
Rob Watson | 57,205 |
LTIP
The following LTIP shares lapsed on 15 March 2022 due to performance conditions not being met. The awards were made on 15 March 2019 and were adjusted on 12 November 2020 following the rights issue. Performance was measured over three years to 31 December 2021.
PDMR | Shares lapsed |
Sarah Armstrong | 41,049 |
Tom Bell | 321,048 |
Rob Watson | 18,024 |
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The following LTIP shares vested on 15 March 2022. The awards were made on 15 March 2019 and were adjusted on 12 November 2020 following the rights issue.
PDMR | Shares vested | Shares sold to cover statutory withholding liabilities | Shares released to SPA |
Sarah Armstrong | 13,683 | 6,444 | 7,239 |
Rob Watson | 6,008 | 2,830 | 3,178 |
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 DSBP
The following DSBP shares vested on 16 March 2022. The awards were made on 16 March 2020 and were adjusted on 12 November 2020 following the rights issue.
PDMR | Shares vested | Shares sold to cover statutory withholding liabilities | Shares released to SPA |
Warren East | 210,230 | 99,007 | 111,223 |
Tom Bell | 113,556 | 40,280 | 73,276 |
Chris Cholerton | 104,701 | 49,309 | 55,392 |
Mark Gregory | 64,677 | 30,460 | 34,217 |
Andreas Schell | 69,872 | 36,407 | 33,465 |
Paul Stein | 59,762 | 28,145 | 31,617 |
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1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Warren East | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | Chief Executive | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  3,177,200 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Deferred Share Bonus Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  210,230 Nil | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 3 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  99,007 £0.9571 | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Panos Kakoullis | ||||
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  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  1,316,606 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Sarah Armstrong | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | Chief People Officer | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  73,984 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Lapse of awards made under the Rolls-Royce Long-Term Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  41,049 Nil | ||||
e) | Date of the transaction(s) Â | 15 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 3 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Long-Term Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  13,683 Nil | ||||
e) Â | Date of the transaction(s) Â | 15 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 4 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  6,444 £0.9094 | ||||
e) Â | Date of the transaction(s) Â | 15 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Tom Bell | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | President - Defence; Chairman & CEO - Rolls-Royce North America | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  736,836  £0.9115  | ||||
e) | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Lapse of awards made under the Rolls-Royce Long-Term Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  321,048 Nil  | ||||
e) | Date of the transaction(s) Â | 15 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 3 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Deferred Share Bonus Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  113,556 Nil | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 4 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  40,280 £0.9571 | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Chris Cholerton | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | President - Civil Aerospace | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  690,456 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Deferred Share Bonus Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  104,701 Nil | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 3 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  49,309 £0.9571 | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Mark Gregory | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | General Counsel | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  532,810 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Deferred Share Bonus Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  64,677 Nil | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 3 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  30,460 £0.9571 | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Andreas Schell | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | CEO - Rolls-Royce Power Systems AG | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Deferred Share Bonus Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  69,872 Nil | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  36,407 £0.9571 | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Paul Stein | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | Chair - Rolls-Royce SMR Limited | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  458,909 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Deferred Share Bonus Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  59,762 Nil | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 3 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  28,145 £0.9571 | ||||
e) Â | Date of the transaction(s) Â | 16 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Grazia Vittadini | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | Chief Technology and Strategy Officer | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  107,802 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
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 1  | Details of the person discharging managerial responsibilities / person closely associated  | |||||
a)  | Name  | Rob Watson | ||||
2  | Reason for the notification  | |||||
a)  | Position/status  | President - Rolls-Royce Electrical | ||||
b)  | Initial notification /Amendment  | Initial notification | ||||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | |||||
a)  | Name  | Rolls-Royce Holdings plc | ||||
b) Â | LEI Â | 213800EC7997ZBLZJH69 | ||||
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 20p each  GB00B63H8491  | ||||
Transaction 1 | ||||||
b)  | Nature of the transaction  | Grant of awards made under the Rolls-Royce Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  57,205 £0.9115 | ||||
e) Â | Date of the transaction(s) Â | 8 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 2 | ||||||
b)  | Nature of the transaction  | Lapse of awards made under the Rolls-Royce Long-Term Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  18,024 Nil  | ||||
e) | Date of the transaction(s) Â | 15 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 3 | ||||||
b)  | Nature of the transaction  | Vest of awards made under the Rolls-Royce Long-Term Incentive Plan | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  6,008 Nil | ||||
e) Â | Date of the transaction(s) Â | 15 March 2022 | ||||
f) Â | Place of the transaction(s) Â | Outside a trading venue | ||||
Transaction 4 | ||||||
b)  | Nature of the transaction  | Sale of shares to cover statutory withholding liabilities | ||||
c) Â | Price(s) and volume(s) Â | Â
 | ||||
d)  | Aggregated information  - Aggregated volume  - Price |  2,830 £0.9094 | ||||
e) Â | Date of the transaction(s) Â | 15 March 2022 | ||||
f) Â | Place of the transaction(s) Â | London Stock Exchange, Main Market (XLON) | ||||
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Rolls-Royce (RR.)