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