TIDMSSE

RNS Number : 6698T

SSE PLC

25 July 2022

SSE plc

Director/PDMR Shareholding

SSE plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons

   (i)           Deferred Bonus Scheme (DBS) - Grant of Awards 

The Directors/PDMRs listed in the table that follows each received awards over Ordinary shares of 50 pence each fully paid in the Company under the DBS. The number of shares under each award has been calculated by reference to a price of GBP17.57 per share, being the average of the Company's share price over the three dealing days immediately preceding the date of grant.

Awards granted under the DBS represent a deferral of a proportion of the cash bonus earned for the 2021/22 annual incentive year which is converted into shares. The shares will vest after a period of three years from the date of grant subject normally to the participant remaining in employment with the Company. On vesting, the participant will become entitled to additional shares representing the value of reinvested dividends over the three-year period.

Awards granted to Executive Directors will be subject to an additional post-vesting holding period during which time the Executive Director must retain the post-tax number of shares vesting under award.

 
 
         Details of the person(s) discharging managerial responsibilities/person 
   1     closely associated with 
 a)    Name(s)                           Alistair Phillips-Davies (Director) 
                                          Gregor Alexander (Director) 
                                          Martin Pibworth (Director) 
                                          Christopher Burchell (PDMR) 
                                          Rob McDonald (PDMR) 
                                          Sam Peacock (PDMR) 
                                          John Stewart (PDMR) 
                                          Elizabeth Tanner (PDMR) 
                                          Stephen Wheeler (PDMR) 
      --------------------------------  ---------------------------------------------- 
 
         Reason for the notification 
   2 
      -------------------------------------------------------------------------------- 
 a)    Position/status                   As noted in 1a) above 
      --------------------------------  ---------------------------------------------- 
 b)    Initial notification/Amendment    Initial notification 
      --------------------------------  ---------------------------------------------- 
 
         Details of the issuer, emission allowance market participant, 
   3     auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------- 
 a)    Name                              SSE plc 
      --------------------------------  ---------------------------------------------- 
 b)    LEI                               549300KI75VYLLMSK856 
      --------------------------------  ---------------------------------------------- 
 
         Details of the transaction(s): section to be repeated for (i) 
   4     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      Ordinary shares of 50 pence each fully 
        instrument, type of instrument    paid 
        Identification code               ISIN: GB0007908733 
      --------------------------------  ---------------------------------------------- 
 b)    Nature of transaction             Grant of Awards under the SSE plc Deferred 
                                          Bonus Scheme 
      --------------------------------  ---------------------------------------------- 
 c)    Price(s) and volume(s)            Conditional awards of shares, the number 
                                          of shares calculated by reference to 
                                          a price of GBPGBP17.57, being the average 
                                          of the Company's share price over the 
                                          three dealing days immediately preceding 
                                          the date of grant. 
                                                                           Total 
                                                                            DBS Awards 
                                           Director/PDMR                    Granted 
 
                                            Alistair Phillips-Davies 
                                            (Director)                     21,604 
                                                                          ------------ 
 
                                            Gregor Alexander (Director)    14,472 
                                                                          ------------ 
 
                                            Martin Pibworth (Director)     12,739 
                                                                          ------------ 
 
                                            Christopher Burchell 
                                            (PDMR)                         5,125 
                                                                          ------------ 
 
                                            Robert McDonald (PDMR)         5,121 
                                                                          ------------ 
 
                                            Sam Peacock (PDMR)             2,596 
 
                                            John Stewart (PDMR)            3,176 
 
                                            Elizabeth Tanner (PDMR)        3,912 
 
                                            Stephen Wheeler (PDMR)         4,397 
                                                                          ------------ 
      --------------------------------  ---------------------------------------------- 
 d)         Aggregated information 
              *    Aggregated volume       As noted in 4c) above 
                                           As noted in 4c) above 
 
              *    Price 
      --------------------------------  ---------------------------------------------- 
 e)    Date of transaction               22 July 2022, date of grant 
      --------------------------------  ---------------------------------------------- 
 f)    Place of transaction              Outside a trading venue 
      --------------------------------  ---------------------------------------------- 
 
   (ii)          Performance Share Plan (PSP) - Grant of Awards 

The Executive Directors listed in the table that follows were each granted awards over Ordinary shares of 50 pence each fully paid in the Company under the PSP. The number of shares stated is the maximum which will become available to each Executive Director if the performance targets applicable to the award are achieved at their upper limit or above. On vesting, the Executive Director will become entitled to additional shares representing the value of reinvested dividends over the performance period. The number of shares under each award has been calculated by reference to a price of GBP17.57 per share, being the average of the Company's share price over the three dealing days immediately preceding the date of grant.

Vesting of these awards will normally only take place if performance conditions are satisfied over the three-year performance period 1 April 2022 to 31 March 2025. These performance conditions are those indicated in the Company's Directors' Remuneration Policy (as set out in the 2022 Annual Report).

Awards granted to Executive Directors will be subject to an additional post-vesting holding period during which time the Executive Director must retain the post-tax number of shares vesting under award.

 
 
         Details of the person(s) discharging managerial responsibilities/person 
   1     closely associated with 
 a)    Name(s)                           Gregor Alexander (Executive Director) 
                                          Alistair Phillips-Davies (Executive 
                                          Director) 
                                          Martin Pibworth (Executive Director) 
      --------------------------------  ---------------------------------------------- 
 
         Reason for the notification 
   2 
      -------------------------------------------------------------------------------- 
 a)    Position/status                   As noted in 1a) above 
      --------------------------------  ---------------------------------------------- 
 b)    Initial notification/Amendment    Initial notification 
      --------------------------------  ---------------------------------------------- 
 
         Details of the issuer, emission allowance market participant, 
   3     auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------- 
 a)    Name                              SSE plc 
      --------------------------------  ---------------------------------------------- 
 b)    LEI                               549300KI75VYLLMSK856 
      --------------------------------  ---------------------------------------------- 
 
         Details of the transaction(s): section to be repeated for (i) 
   4     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      Ordinary shares of 50 pence each fully 
        instrument, type of instrument    paid 
        Identification code               ISIN: GB0007908733 
      --------------------------------  ---------------------------------------------- 
 b)    Nature of transaction             Grant of Awards under the SSE plc Performance 
                                          Share Plan 
      --------------------------------  ---------------------------------------------- 
 c)    Price(s) and volume(s)            Conditional awards of shares, the number 
                                          of shares calculated by reference to 
                                          a price of GBPGBP17.57, being the average 
                                          of the Company's share price over the 
                                          three dealing days immediately preceding 
                                          the date of grant. 
                                                                       Total PSP 
                                           Director                     Awards Granted 
                                           Gregor Alexander            94,192 
                                                                      ---------------- 
                                           Alistair Phillips-Davies    135,407 
                                                                      ---------------- 
                                           Martin Pibworth             83,928 
                                                                      ---------------- 
      --------------------------------  ---------------------------------------------- 
 d)         Aggregated information 
              *    Aggregated volume       As noted in 4c) above 
                                           As noted in 4c) above 
 
              *    Price 
      --------------------------------  ---------------------------------------------- 
 e)    Date of transaction               22 July 2022, date of grant 
      --------------------------------  ---------------------------------------------- 
 f)    Place of transaction              Outside a trading venue 
      --------------------------------  ---------------------------------------------- 
 
   (iii)         Leadership Share Plan (LSP) - Grant of Awards 

The PDMRs in the table that follows were each granted awards over Ordinary shares of 50 pence each fully paid in the Company under the LSP. The number of shares stated is the number which will become available if the performance targets applicable to the awards are achieved, although the number could be increased or reduced by the Company performance adjuster described below. On vesting, the PDMRs will become entitled to additional shares representing the value of reinvested dividends over the performance period.

The number of shares under the award has been calculated by reference to a price of GBP17.57 per share, being the average of the Company's share price over the three dealing days immediately preceding the date of grant.

Vesting of the award will normally only take place if the performance conditions are achieved over the three-year performance period 1 April 2022 to 31 March 2025. In addition, an overall Company performance adjuster, allowing vesting rates to be adjusted up or down by up to 25% at the discretion of the Remuneration Committee, may be applied if overall performance of the Company over the performance period merits such an upward or downward adjustment.

 
 
         Details of the person(s) discharging managerial responsibilities/person 
   1     closely associated with 
 a)    Name(s)                           Christopher Burchell (PDMR) 
                                          Robert McDonald (PDMR) 
                                          Sam Peacock (PDMR) 
                                          John Stewart (PDMR) 
                                          Elizabeth Tanner (PDMR) 
                                          Stephen Wheeler (PDMR) 
      --------------------------------  --------------------------------------------- 
 
         Reason for the notification 
   2 
      ------------------------------------------------------------------------------- 
 a)    Position/status                   As noted in 1a) above 
      --------------------------------  --------------------------------------------- 
 b)    Initial notification/Amendment    Initial notification 
      --------------------------------  --------------------------------------------- 
 
         Details of the issuer, emission allowance market participant, 
   3     auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------- 
 a)    Name                              SSE plc 
      --------------------------------  --------------------------------------------- 
 b)    LEI                               549300KI75VYLLMSK856 
      --------------------------------  --------------------------------------------- 
 
         Details of the transaction(s): section to be repeated for (i) 
   4     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      Ordinary shares of 50 pence each fully 
        instrument, type of instrument    paid 
        Identification code               ISIN: GB0007908733 
      --------------------------------  --------------------------------------------- 
 b)    Nature of transaction             Grant of Awards under the SSE plc Leadership 
                                          Share Plan 
      --------------------------------  --------------------------------------------- 
 c)    Price(s) and volume(s)            Conditional awards of shares, the number 
                                          of shares calculated by reference to 
                                          a price of GBPGBP17.57, being the average 
                                          of the Company's share price over the 
                                          three dealing days immediately preceding 
                                          date of grant. 
                                                                      Total LSP 
                                           PDMR                        Awards Granted 
 
                                            Christopher Burchell 
                                            (PDMR)                    26,643 
                                                                     ---------------- 
 
                                            Rob McDonald (PDMR)       24,181 
                                                                     ---------------- 
 
                                            Sam Peacock (PDMR)        11,724 
                                                                     ---------------- 
 
                                            John Stewart (PDMR)       15,535 
                                                                     ---------------- 
 
                                            Elizabeth Tanner 
                                            (PDMR)                    16,505 
 
                                            Stephen Wheeler (PDMR)    24,262 
                                                                     ---------------- 
      --------------------------------  --------------------------------------------- 
 d)         Aggregated information 
              *    Aggregated volume       As noted in 4c) above 
                                           As noted in 4c) above 
 
              *    Price 
      --------------------------------  --------------------------------------------- 
 e)    Date of transaction               22 July 2022, date of grant 
      --------------------------------  --------------------------------------------- 
 f)    Place of transaction              Outside a trading venue 
      --------------------------------  --------------------------------------------- 
 

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END

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July 25, 2022 12:01 ET (16:01 GMT)

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