Director/PDMR Shareholding

British Land Co PLC
16 June 2023
 

Long-Term Incentive Plan ('LTIP') Grant

The British Land Company PLC (the 'Company') announces that on 15 June 2023, conditional awards of ordinary shares of 25p each in the Company were granted to Executive Directors and other Persons Discharging Managerial Responsibilities ('PDMRs') under the LTIP as outlined below (the 'Performance Shares').

The Remuneration Committee has considered the fall in share price since the previous LTIP grants were made in 2022. At the time of grant, the Committee was of the view that no windfall circumstances existed. The Committee commits that it will assess whether a windfall gain has occurred between grant and vesting of the 2023 award, in 2026. If the Committee determines that a windfall has occurred upon vesting, then it will consider the extent to which the number of Performance Shares should be scaled back.

 


Performance Shares at nil consideration

Executive Directors


Simon Carter

571,375

Bhavesh Mistry

373,298

PDMRs


Emma Cariaga

159,985

Kelly Cleveland

159,985

David Lockyer

160,502

Brona McKeown

164,739

Roger Madelin

157,155

Darren Richards

240,739

David Walker

142,381

The above Performance Shares conditionally vest on the third anniversary of grant, subject to performance conditions. Those conditions are based 50% on Total Accounting Return, 25% on Total Property Return, and 25% on Environmental, Social, Governance measures. A two-year post-vesting holding period applies to any shares vesting. A full description of the performance conditions attached to the awards is contained within the 2023 Directors' Remuneration Report.

These transactions took place outside of a trading venue.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 

1.    Simon Carter

2.    Bhavesh Mistry

3.    Emma Cariaga

4.    Kelly Cleveland

5.    David Lockyer

6.    Brona McKeown

7.    Roger Madelin

8.    Darren Richards

9.    David Walker

2

Reason for the notification

a)

Position/status

 

1.    PDMR - Chief Executive Officer

2.    PDMR - Chief Financial Officer

3.    PDMR - Executive Committee member

4.    PDMR - Executive Committee member

5.    PDMR - Executive Committee member

6.    PDMR - Executive Committee member

7.    PDMR - Executive Committee member

8.    PDMR - Executive Committee member

9.    PDMR - Executive Committee member

b)

Initial notification/Amendment

 

Initial notification

3

Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 

The British Land Company PLC

b)

LEI

 

RV5B68J2GV3QGMRPW209

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 financial instrument, type of financial instrument

 

Identification code

 

Ordinary shares of 25 pence each

 

 

 

GB0001367019

 

b)

Nature of the transaction

 

Grant of conditional Performance Share Award under the Long-Term Incentive Plan scheme

 

c)

Price(s) and volume(s)

 

 

Price(s) (pence)

Volume(s)

1.    Nil

2.    Nil

3.    Nil

4.    Nil

5.    Nil

6.    Nil

7.    Nil

8.    Nil

9.    Nil

1.    571,375

2.    373,298

3.    159,985

4.    159,985

5.    160,502

6.    164,739

7.    157,155

8.    240,739

9.    142,381

 

d)

Aggregated information

-      Aggregated volume

-      Price

 

 

N/A (single transaction)

e)

Date of the transaction

 

2023-06-15

f)

Place of the transaction

 

Outside of a trading venue

 

This notification is made in accordance with the requirements of the UK Market Abuse Regulation.  The Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.

 

Enquiries


Company Secretariat

0207 486 4466

 

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END
 
 
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