27 Mar 2023 15:08
SEGRO plc (the Company)
Directors/PDMRs Shareholding
On 24 March 2023, the Company granted conditional awards over shares in the Company under the SEGRO plc 2018 Long Term Incentive Plan (LTIP).
The Remuneration Committee has considered the fall in share price since LTIP grants were made in 2022 and, whilst it is of the view that no windfall circumstances exist at the current share price and considering the strong operational performance of the Company, the Committee commits that it will assess whether a windfall gain has occurred between grant and vesting of the 2023 LTIP award. If the Committee determines that a windfall circumstance has existed, then it will consider the extent to which the LTIP awards granted to Executive Directors should be scaled back.
Details of the grant of LTIP awards to Directors/PDMRs of the Company are set out in the table below.
Name | Transaction | Number of shares subject to awards granted on 24 March 2023 | Beneficial holdings (inclusive of the SEGRO plc Share Incentive Plan (SIP)) |
Directors | |||
David Sleath | Grant of LTIP award1,2,3 | 303,010 | 734,939 |
Soumen Das4 | Grant of LTIP award1,2,3 | 187,767 | 401,567 |
PDMR | |||
Margaret Murphy | Grant of LTIP award1,3 | 48,793 | 0 |
1. The LTIP awards have been structured as conditional awards over ordinary shares in the Company. Further details of the operation of the LTIP are available in the Company’s 2022 Annual Report and Accounts.
2. The Remuneration Committee has the discretion to adjust the LTIP awards downwards at vesting to ensure that all relevant factors are taken into account, including the consideration of any windfall gains.
3. The number of shares subject to the LTIP awards granted has been calculated using a share price of 737.80 pence, being the closing mid-market quotation of a share on the business day immediately preceding grant. This method of calculation is consistent with that used for previous awards.
4. Soumen Das’ beneficial holding is partly held by a Person Closely Associated (PCA), Dipa Das.
The Notification of Dealing Forms provided in accordance with the requirements of the UK Market Abuse Regulation in relation to the transactions listed above are set out below:
1. | Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Name | David Sleath |
2. | Reason for the notification | |
a)
| Position/status
| Chief Executive |
b)
| Initial notification /Amendment
| Initial |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| SEGRO plc |
b)
| LEI | 213800XC35KGM9NFC641 |
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 | Ordinary Shares of 10 pence each |
b)
| Nature of the transaction | Grant of LTIP award |
c)
| Price(s) and volume(s) | Price Volume TotalNIL 303,010 NIL
|
d)
| Aggregated information | N/A |
e)
| Date of the transaction
| 24 March 2023 |
f)
| Place of the transaction
| Off market |
1. | Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Name | Soumen Das |
2. | Reason for the notification | |
a)
| Position/status
| Chief Financial Officer |
b)
| Initial notification /Amendment
| Initial |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| SEGRO plc |
b)
| LEI | 213800XC35KGM9NFC641 |
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 | Ordinary Shares of 10 pence each |
b)
| Nature of the transaction | Grant of LTIP award |
c)
| Price(s) and volume(s) | Price Volume TotalNIL 187,767 NIL |
d)
| Aggregated information | N/A |
e)
| Date of the transaction
| 24 March 2023 |
f)
| Place of the transaction
| Off market |
1. | Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Name | Margaret Murphy |
2. | Reason for the notification | |
a)
| Position/status
| Group HR Director |
b)
| Initial notification /Amendment
| Initial |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| SEGRO plc |
b)
| LEI | 213800XC35KGM9NFC641 |
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 | Ordinary Shares of 10 pence each |
b)
| Nature of the transaction | Grant of LTIP award |
c)
| Price(s) and volume(s) | Price Volume TotalNIL 48,793 NIL |
d)
| Aggregated information | N/A |
e)
| Date of the transaction
| 24 March 2023
|
f)
| Place of the transaction
| Off market |
Julia FooCompany Secretary020 7451 9080
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