Softcat PLC Director/PDMR Shareholding (6515U)
24 Novembre 2023 - 5:54PM
UK Regulatory
TIDMSCT
RNS Number : 6515U
Softcat PLC
24 November 2023
24 November 2023
Softcat plc (the "Company")
Notification of Transactions by
Persons Discharging Managerial Responsibilities
The following notification made under article 19.1 of the Market
Abuse Regulation ("MAR") relates to awards of nil-cost options to
persons discharging managerial responsibilities ("PDMR") on 23
November 2023 under the Softcat plc Long Term Incentive Plan
("LTIP"). This announcement is made in accordance with Article 19.3
of MAR.
Softcat plc Long Term Incentive Plan
On 23 November 2023, awards under the Company's Long Term
Incentive Plan (the "LTIP") were made as outlined below.
An award of nil-cost options to acquire 68,703 Ordinary shares
was made to Graham Charlton, a director and PDMR. The number of
shares over which the nil-cost option was awarded has been
calculated by reference to the closing middle market quotation of
the ordinary shares derived from the Daily Official List on the
dealing day preceding the date of grant (1,240 pence) . The award
will vest subject to the performance conditions outlined below.
An award of nil-cost options to acquire 44,758 Ordinary shares
was made to Katy Mecklenburgh, a director and PDMR. The number of
shares over which the nil-cost option was awarded has been
calculated by reference to the closing middle market quotation of
the ordinary shares derived from the Daily Official List on the
dealing day preceding the date of grant (1,240 pence) . The award
will vest subject to the performance conditions outlined below.
Performance Conditions and Vesting of Awards
These nil-cost options are subject to the rules of the LTIP and
will vest depending on performance against Total Shareholder Return
("TSR") and Earnings per Share ("EPS") targets as measured over a
three year performance period.
40% of the Award will be subject to the Company's relative TSR
performance against the FTSE 250 (excluding real estate and
investment trusts):
TSR performance % of Award vesting
Below median Nil
At median 30%
Upper quartile or above 100%
There will be straight-line vesting between the points as
outlined above.
60% of the Award will be subject to the Company's EPS for FY
2026:
EPS % of Award vesting
Less than 59.1 pence Nil
59.1 pence 20%
66.1 pence 67%
71.8 pence or above 100%
There will be straight-line vesting between 20% and 67% and
between 67% and full vesting.
The normal date of vesting for the nil-cost options outlined
above will be 23 November 2026 and the last date for exercise will
be 22 November 2033, with dividend equivalents payable in respect
of the vesting of nil-cost options in accordance with the rules of
the LTIP.
For further information on the LTIP, please refer to the
Company's Annual Report and Accounts.
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Graham Charlton
--------------------------------- ----------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position / status CEO
--------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/ amendment
--------------------------------- ----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Softcat plc
----------------------------------- --------------------------------------------
b) LEI 213800N42YZLR9GLVC42
----------------------------------- --------------------------------------------
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 Ordinary Shares of GBP0.0005 each
of the financial
instrument
ISIN: GB00BYZDVK82
Identification
Code
--------------------------------- ----------------------------------------------
b) Nature of the Grant of nil cost option over Ordinary
transaction Shares of GBP0.0005 each under the Softcat
plc Long Term Incentive Plan
--------------------------------- ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.00 68,703
----------
--------------------------------- ----------------------------------------------
d) Aggregated information
Aggregated volume N/A
Price
--------------------------------- ----------------------------------------------
e) Date of the 23 November 2023
transaction
--------------------------------- ----------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------------------- ----------------------------------------------
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Katy Mecklenburgh
--------------------------------- ----------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position / status CFO
--------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/ amendment
--------------------------------- ----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Softcat plc
----------------------------------- --------------------------------------------
b) LEI 213800N42YZLR9GLVC42
----------------------------------- --------------------------------------------
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 Ordinary Shares of GBP0.0005 each
of the financial
instrument
ISIN: GB00BYZDVK82
Identification
Code
--------------------------------- ----------------------------------------------
b) Nature of the Grant of nil cost option over Ordinary
transaction Shares of GBP0.0005 each under the Softcat
plc Long Term Incentive Plan
--------------------------------- ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.00 44,758
----------
--------------------------------- ----------------------------------------------
d) Aggregated information
Aggregated volume N/A
Price
--------------------------------- ----------------------------------------------
e) Date of the
transaction 23 November 2023
--------------------------------- ----------------------------------------------
f) Place of the
transaction Outside a trading venue
--------------------------------- ----------------------------------------------
Luke Thomas
Company Secretary, Softcat plc
24 November 2023
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END
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November 24, 2023 11:54 ET (16:54 GMT)
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