Director/PDMR Shareholding

RNS Number : 2530C

Grainger PLC

06 February 2020

 

Grainger plc

("Grainger" or the "Company") 

GRAINGER PLC 2017 LONG TERM INCENTIVE PLAN AND GRANT OF OPTIONS TO DIRECTORS

The Company announces that it has made the following grants of nil cost share options ("Options") on 6 February 2020 over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the 2017 Long Term Incentive Plan ("LTIP") (under the LTIP rules as amended and approved by the shareholders at the Company's AGM on 5 February 2020).

Grant of Options

On 6 February 2020, Grainger granted Options over a total of 695,472 Shares to its Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") of the Company (as specified in the table below).

Director/ PDMR	Position	No. of shares under Option
Helen Gordon	Chief Executive Officer	330,116
Vanessa Simms	Chief Financial Officer	200,940
Andrew Saunderson	Director of Investments	82,208
Michael Keaveney	Director of Land and Development	82,208

The Options will generally vest and become exercisable three years from the date of grant, subject to continued employment. Vesting of the Options is subject to certain performance conditions, namely the Total Property Return ("TPR") performance, relative Total Shareholder Return ("TSR") and Secured PRS Investment. Half of the Shares under an Option are subject to TSR performance conditions, a quarter of the Shares under an Option are subject to TPR performance conditions and a quarter of the Shares under an Option are subject to the Secured PRS Investment performance conditions.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides 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)	Names	Helen Gordon
2	Reason for the notification
a)	Position/status	Chief Executive Officer, Director
b)	Initial notification	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Grainger plc
b)	LEI		2138007CEIRKZMNI2979
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, type of instrument		Ordinary Shares of 5p each in Grainger plc
b)	Identification code		GB00B04V1276
c)	Nature of the transaction		Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
d)	Price and volumes		Price - Nil Volume: 330,116 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price		N/A
e)	Date of the transaction		6 February 2020
f)	Place of the transaction		Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Vanessa Simms
2	Reason for the notification
a)	Position/status	Chief Financial Officer, Director
b)	Initial notification	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Grainger plc
b)	LEI	2138007CEIRKZMNI2979
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, type of instrument	Ordinary Shares of 5p each in Grainger plc
b)	Identification code	GB00B04V1276
c)	Nature of the transaction	Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
d)	Price and volumes	Price - Nil Volumes: 200,940 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	6 February 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Andrew Saunderson
2	Reason for the notification
a)	Position/status	Director of Investments, PDMR
b)	Initial notification	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Grainger plc
b)	LEI	2138007CEIRKZMNI2979
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, type of instrument	Ordinary Shares of 5p each in Grainger plc
b)	Identification code	GB00B04V1276
c)	Nature of the transaction	Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
d)	Price and volumes	Price - Nil Volumes: 82,208 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	6 February 2020
f)	Place of the transaction	Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Michael Keaveney
2	Reason for the notification
a)	Position/status	Director of Land and Development, PDMR
b)	Initial notification	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Grainger plc
b)	LEI	2138007CEIRKZMNI2979
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, type of instrument	Ordinary Shares of 5p each in Grainger plc
b)	Identification code	GB00B04V1276
c)	Nature of the transaction	Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
d)	Price and volumes	Price - Nil Volumes: 82,208 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	6 February 2020
f)	Place of the transaction	Outside a trading venue

Name of authorised official of issuer responsible for making notification.

Adam McGhin

Group General Counsel and Company Secretary

 

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