Royal Mail PLC Director/PDMR Shareholding (9836G)
30 Novembre 2020 - 5:00PM
UK Regulatory
TIDMRMG
RNS Number : 9836G
Royal Mail PLC
30 November 2020
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code:
RMG ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
30 November 2020
Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility
Royal Mail plc Long Term Incentive Plan (LTIP) Grant
On 27 November 2020, the PDMRs listed below were granted
conditional share awards over ordinary shares in Royal Mail plc
under the Royal Mail plc LTIP. The number of shares awarded under
the LTIP is set out in the table below, which is the maximum grant
that the PDMRs are eligible for, and will only vest in full, if the
maximum performance condition is achieved.
PDMR Number of shares
Stuart Simpson 221,725
-----------------
Mark Amsden 98,544
-----------------
Mick Jeavons 128,108
-----------------
LTIP awards normally vest at the end of the three-year
performance period, once the Remuneration Committee has determined
achievement against the performance condition. The earliest release
date of the LTIP will be 27 November 2023, subject to the
participant continuing to hold office or employment within the
Royal Mail Group, and then subject to a two-year holding period. On
vesting, the Committee must also be satisfied that the performance
of the Company against the three measures outlined below is
reflective of the Company's underlying financial performance.
Executive Directors are required to retain any share-based
awards until they achieve a shareholding equivalent of 200 per cent
of salary. All other PDMRs are required to retain a shareholding
equivalent of 100 per cent of salary.
The terms of these awards provide the Remuneration Committee
with the ability to review the outcome at vesting taking into
account the underlying performance of the business and it may
consider making appropriate adjustments to reflect this.
The performance conditions are as follows.
Measure Weighting Measurement period
TSR versus FTSE 51-150 comparator 40% 1 April 2020 - 31 March 2023 Threshold (25% vesting) - Median
group Maximum (100% vesting) - UQ
---------- ------------------------------ ------------------------------------
Group EBITDA 40% 2022/23 Threshold (25% vesting) -
GBP1.07bn
Maximum (100% vesting) - GBP1.38bn
---------- ------------------------------ ------------------------------------
Group Parcels Revenue 20% 2022/23 Threshold (25% vesting) -
GBP7.65bn
Maximum (100% vesting) - GBP8.45bn
---------- ------------------------------ ------------------------------------
More details will be disclosed in the directors' remuneration
report in the 2020-21 Annual Report & Accounts.
No consideration was paid for the grant of the share awards.
The below notifications, made in accordance with the
requirements of Article 19 of the EU Market Abuse Regulation, give
further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stuart Simpson
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Interim Chief Executive Officer of
Royal Mail
-------------------------- -----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Royal Mail plc
-------------------------- -----------------------------------------
b) LEI 213800TCZZU84G8Z2M70
-------------------------- -----------------------------------------
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, Ordinary shares of GBP0.01 each in
type of instrument Royal Mail plc
Identification code GB00BDVZYZ77
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of ordinary shares under the
Royal Mail plc Long Term Incentive
Plan
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 221,725
----------
-------------------------- -----------------------------------------
d) Aggregated information
- Aggregated volume 221,725
- Price Nil
-------------------------- -----------------------------------------
e) Date of the transaction 27 November 2020
-------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
-------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mick Jeavons
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Interim Group Chief Financial Officer
-------------------------- --------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Royal Mail plc
-------------------------- --------------------------------------------
b) LEI 213800TCZZU84G8Z2M70
-------------------------- --------------------------------------------
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, Ordinary shares of GBP0.01 each in
type of instrument Royal Mail plc
Identification code GB00BDVZYZ77
-------------------------- --------------------------------------------
b) Nature of the transaction Grant of ordinary shares under the
Royal Mail plc Long Term Incentive
Plan
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 128,108
----------
-------------------------- --------------------------------------------
d) Aggregated information
- Aggregated volume 128,108
- Price Nil
-------------------------- --------------------------------------------
e) Date of the transaction 27 November 2020
-------------------------- --------------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
-------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Amsden
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Group General Counsel and Company
Secretary
-------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Royal Mail plc
-------------------------- ----------------------------------------
b) LEI 213800TCZZU84G8Z2M70
-------------------------- ----------------------------------------
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, Ordinary shares of GBP0.01 each in
type of instrument Royal Mail plc
Identification code GB00BDVZYZ77
-------------------------- ----------------------------------------
b) Nature of the transaction Grant of ordinary shares under the
Royal Mail plc Long Term Incentive
Plan
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 98,544
----------
-------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume 98,544
- Price Nil
-------------------------- ----------------------------------------
e) Date of the transaction 27 November 2020
-------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
-------------------------- ----------------------------------------
For further information, please contact:
Investor Relations
John Crosse
Phone: 020 7449 8183
Email: investorrelations@royalmail.com
Company Secretariat
Mark Amsden
Phone: 020 7449 8289
Email: cosec@royalmail.com
Media
Mark Street
Phone: 07515 924 344
Email: mark.street@royalmail.com
Royal Mail press office out of hours: 020 7449 8246
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END
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November 30, 2020 11:00 ET (16:00 GMT)
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