Director/PDMR Shareholding

RNS Number : 6096U
Great Portland Estates PLC
30 July 2020
 

DIRECTOR/PDMR SHAREHOLDING 

 

30 July 2020

 

Great Portland Estates plc (the "Company" or "GPE")

 

Grant of Awards under the GPE Long-Term Incentive Plan (the "LTIP")

 

The Company announces that on 29 July 2020, the following Directors were granted awards over Ordinary Shares of 15 5 / 19 pence each in the Company under the LTIP, the number of shares being calculated using a market price of 580.60 pence per share: 

 

Director

Date of Grant

Performance Award

Number of Shares

Vesting Date

Date Exercisable

Toby Courtauld

29.07.20

317,906

29.07.23

29.07.25

Nick Sanderson

29.07.20

218,722

29.07.23

29.07.25

 

As outlined in the Directors' remuneration policy approved by shareholders on 24 July 2020, the Remuneration Committee has discretion to override and reduce formulaic outcomes under the LTIP awards should this be considered appropriate in the circumstances.

 

The vested shares will be subject to a two-year holding period following the third anniversary of the date of grant.

The above awards were granted as nil cost options which are subject to the following criteria relating to the Company's performance over the three-year performance period:

 

Performance measure over 3 years

% of award

Vesting level



Start of measurement period



20%

Straight-line vesting between these points

100%


Total Accounting Return

50%

868p


925p

1 April prior to grant

TSR against constituents of FTSE 350 Real Estate Sector (excluding agencies)

50%

Median


Upper quartile

Grant date

 

The Notification of Dealing Forms can be found below.  This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 

1.

Details of PDMR/person closely associated with them ("PCA")

a)

Name

Toby Courtauld

2.

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Great Portland Estates plc

 

b)

Legal Entity Identifier

213800JMEDD2Q4N1MC42

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 15 5 / 19 p

ISIN: GB00BF5H9P87

b)

Nature of the transaction

Grant of a nil cost option performance share award under the Company's Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price

Volume(s)

Ordinary shares

Nil consideration

317,906

d)

Aggregated information

- Aggregated volume

- Aggregated price

- Aggregated total

Aggregated volume: 317,906

Aggregated price: 0.0p

Aggregated total: 317,906 ordinary shares

e)

Date of transaction

29 July 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of PDMR/person closely associated with them ("PCA")

a)

Name

Nick Sanderson

2.

Reason for the notification

a)

Position/status

Finance & Operations Director

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Great Portland Estates plc

 

b)

Legal Entity Identifier

213800JMEDD2Q4N1MC42

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 15 5 / 19 p

ISIN: GB00BF5H9P87

b)

Nature of the transaction

Grant of a nil cost option performance share award under the Company's Long Term Incentive Plan

c)

Price(s) and volume(s)

Price

Volume(s)

Ordinary shares

Nil consideration

218,722

d)

Aggregated information

- Aggregated volume

- Aggregated price

- Aggregated total

 

Aggregated volume: 218,722

Aggregated price: 0.0 p

Aggregated total: 218,722 ordinary shares

e)

Date of transaction

29 July 2020

f)

Place of the transaction

Outside a trading venue

 

 

 

Contacts:







Great Portland Estates plc

+44

(0)

20

7647

3000


Darren Lennark, Company Secretary






Stephen Burrows, Director of Financial Reporting and Investor Relations







 


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