Royal Mail PLC Director/PDMR Shareholding (5108I)
13 Agosto 2021 - 12:00PM
UK Regulatory
TIDMRMG
RNS Number : 5108I
Royal Mail PLC
13 August 2021
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: RMG
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
13 August 2021
Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility
Royal Mail plc Long Term Incentive Plan (LTIP) Grant
On 12 August 2021, the PDMRs listed below were granted
conditional share awards over ordinary shares in Royal Mail plc
under the Royal Mail 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
Mark Amsden 59,919
-----------------
Mick Jeavons 125,831
-----------------
Martin Seidenberg 147,098
-----------------
Simon Thompson 157,289
-----------------
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 will be 12 August 2024, 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 also satisfied that the performance of the Company
against the relevant 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. 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 and it may
consider making appropriate adjustments to reflect this.
The performance measures and their respective weightings are as
follows.
Mick Jeavons Stuart Thompson Martin Seidenberg
(Group Chief (CEO Royal Mail) (CEO GLS)
Financial Officer)
Mark Amsden
(Group General
Measure Counsel)
------------------------ -------------------- ------------------ ------------------
Total Shareholder P P P
Return vs FTSE 51-150 (40%) (40%) (40%)
(excluding mining
and financials)
comparator group
------------------------ -------------------- ------------------ ------------------
UK operating profit P P
(20%) (40%)
------------------------ -------------------- ------------------ ------------------
UK Parcels Revenue P P
(10%) (20%)
------------------------ -------------------- ------------------ ------------------
GLS EBITA P P
(20%) (40%)
------------------------ -------------------- ------------------ ------------------
GLS Cashflow P P
(10%) (20%)
------------------------ -------------------- ------------------ ------------------
Total 100% 100% 100%
------------------------ -------------------- ------------------ ------------------
The respective targets are as follows.
Measure Measurement period Target
--------------------------- ------------------- ------------------------
Total Shareholder Return 1 April 2021 - 31 Threshold (25% vesting)
vs FTSE 51-150 (excluding March 2024 - Median
mining and financials) Maximum (100% vesting)
comparator group - UQ
--------------------------- ------------------- ------------------------
UK operating profit 2023-24 Threshold (25% vesting)
- GBP656.1m
Maximum (100% vesting)
- GBP801.9m
--------------------------- ------------------- ------------------------
UK Parcels Revenue 2023-24 Threshold (25% vesting)
- GBP5,344.7m
Maximum (100% vesting)
- GBP5,907.3m
--------------------------- ------------------- ------------------------
GLS EBITA 2023-24 Threshold (25% vesting)
- EUR410m
Maximum (100% vesting)
- EUR449.9m
--------------------------- ------------------- ------------------------
GLS Cashflow 2023-24 Threshold (25% vesting)
- EUR281.2m
Maximum (100% vesting)
- EUR310.8m
--------------------------- ------------------- ------------------------
More details will be disclosed in the directors' remuneration
report in the 2021-22 Annual Report & Accounts.
No consideration was paid for the grant of the share awards.
The below notifications, made in accordance with the
requirements of the UK Market Abuse Regulation, give further
detail.
Notification of Dealing Form
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 Long Term Incentive Plan
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 59,919
----------
-------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
-------------------------- ----------------------------------------
e) Date of the transaction 12 August 2021
-------------------------- ----------------------------------------
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 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 Long Term Incentive Plan
--------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 125,831
----------
--------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
--------------------------- --------------------------------------
e) Date of the transaction 12 August 2021
--------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
--------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Martin Seidenberg
--------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Chief Executive Officer, GLS
--------------------------- --------------------------------------
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 Long Term Incentive Plan
--------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 147,098
----------
--------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
--------------------------- --------------------------------------
e) Date of the transaction 12 August 2021
--------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
--------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Simon Thompson
-------------------------- ------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Executive Officer, 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 Long Term Incentive Plan
-------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 157,289
----------
-------------------------- ------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
-------------------------- ------------------------------------------
e) Date of the transaction 12 August 2021
-------------------------- ------------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
-------------------------- ------------------------------------------
Enquires:
Investor Relations
John Crosse
Email: investorrelations@royalmail.com
Royal Mail investor relations line: 020 7449 8183
Media Relations
Helen Reynoldson
Phone: 07483 302 245
Royal Mail press office: press.office@royalmail.com
Jenny Hall
Phone: 07776 993 036
Email: jenny.hall@royalmail.com
Company Secretary
Mark Amsden
Email: cosec@royalmail.com
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END
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(END) Dow Jones Newswires
August 13, 2021 06:00 ET (10:00 GMT)
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