Director/PDMR Shareholding

Drax Group PLC

05 April 2024

 

05 April 2024

Drax Group plc

("Drax" or "the Company")

Symbol: DRX

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

Vesting of Deferred Share Plan Shares

On 3 April 2024, shares in Drax Group plc were issued to Will Gardiner (CEO) and Andy Skelton (CFO) as set forth in the table below.

The issuance was an automatic vesting on conclusion of a three-year vesting period for awards originally granted on 1 April 2021 under the Drax Group plc Deferred Share Plan (the "DSP"). The shares granted in April 2021 represented the deferred element of the annual bonus for the financial year ended 31 December 2020.

The Company was notified on 3 April 2024 that Will Gardiner and Andy Skelton each sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares. Shares were sold at a price of 489.1012 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period.

Director/PDMR	Total DSP award vesting1	Number of shares sold to meet the tax liability	Net shares retained
Will Gardiner	60,237	28,412	31,825
Andy Skelton	33,645	15,869	17,776

Notes:

1.     Includes shares in lieu of accrued dividends throughout the holding period.

Vesting of Long-Term Incentive Plan Shares

On 3 April 2024, shares in Drax Group plc were issued to Persons Discharging Managerial Responsibility ("PDMRs") as set forth in the table below.

The issuance was an automatic vesting on conclusion of a three-year vesting period for awards originally granted on 1 April 2021 under the Drax Group plc Long-Term Incentive Plan 2020 (the "LTIP").

The Company was notified on 3 April 2024 that Will Gardiner, Andy Skelton and Paul Sheffield sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares. Shares were sold at a price of 489.1012 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period. Penelope Small sold all shares arising on the vesting of the 1 April 2021 grant under the LTIP. Shares were sold at a price of 489.1012 pence per share.

Director/PDMR	Total LTIP award vesting	Number of shares sold to meet the tax liability	Net shares retained	Total number of shares held in the Company (incl. held by spouse)
Will Gardiner	294,746	139,018	155,728	1,272,964
Andy Skelton	168,039	79,256	88,783	577,614
Paul Sheffield	74,262	35,026	39,236	55,554

Director/PDMR	Total LTIP award vesting	Number of shares sold	Net shares retained	Total number of shares held in the Company (incl. held by spouse)
Penelope Small	73,684	73,684	0	130,425

The information below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

Details of PDMR / person closely associated with them ("PCA")
Name	Will Gardiner
Reason for the notification
Position / status	Group Chief Executive
Initial notification / amendment	Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Drax Group plc
LEI	549300YPSNTXR4ZHSR98
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
Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00B1VNSX38
Nature of the transaction	Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to cover taxes due.
Price(s) and volume(s)	Price(s) Volume(s) 489.1012 pence per share 139,018 489.1012 pence per share 28,412
Aggregated information -     Aggregated volume -     Price	167,430 489.1012 pence per share
Date of the transaction	03 April 2024
Place of the transaction	XLON

Details of PDMR / person closely associated with them ("PCA")
Name	Andy Skelton
Reason for the notification
Position / status	Chief Financial Officer
Initial notification / amendment	Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Drax Group plc
LEI	549300YPSNTXR4ZHSR98
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
Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00B1VNSX38
Nature of the transaction	Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to cover taxes due.
Price(s) and volume(s)	Price(s) Volume(s) 489.1012 pence per share 79,256 489.1012 pence per share 15,869
Aggregated information -     Aggregated volume -     Price	95,125 489.1012 pence per share
Date of the transaction	03 April 2024
Place of the transaction	XLON

Details of PDMR / person closely associated with them ("PCA")
Name	Paul Sheffield
Reason for the notification
Position / status	Chief Commercial Officer
Initial notification / amendment	Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Drax Group plc
LEI	549300YPSNTXR4ZHSR98
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
Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00B1VNSX38
Nature of the transaction	Automatic vesting of the LTIP award and sale of sufficient shares to cover taxes due.
Price(s) and volume(s)	Price(s) Volume(s) 489.1012 pence per share 35,026
Aggregated information -     Aggregated volume -     Price	n/a
Date of the transaction	03 April 2024
Place of the transaction	XLON

Details of PDMR / person closely associated with them ("PCA")
Name	Penelope Small
Reason for the notification
Position / status	Interim Chief Operations Officer
Initial notification / amendment	Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Drax Group plc
LEI	549300YPSNTXR4ZHSR98
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
Description of the financial instrument Identification code	Ordinary shares of 11 16/29 pence GB00B1VNSX38
Nature of the transaction	Automatic vesting of the LTIP award and sale of all vested shares.
Price(s) and volume(s)	Price(s) Volume(s) 489.1012 pence per share 73,684
Aggregated information -     Aggregated volume -     Price	n/a
Date of the transaction	03 April 2024
Place of the transaction	XLON

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