Director/PDMR Shareholding
Summary by AI BETAClose X
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3 September 2026 |
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Derwent London plc ("Derwent London" / "the Group") Notification of interests of Directors and Persons Discharging |
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The Group announces the following changes to the interests of Directors in the Group's ordinary shares of 5p each (the 'Shares').
Grant of Awards
On 2 September 2026, the Group granted share-based awards (the 'Awards') under the Derwent London Performance Share Plan 2023 (the 'Plan') to certain Directors of the Group (who are Persons Discharging Managerial Responsibilities), as follows:
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Name |
Role |
Type of Award |
Number of shares |
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Jonathan S Murphy |
Chief Executive |
Performance Share Award |
24,393 |
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Restricted Share Award |
4,065 |
Awards granted under the Plan are structured as nil cost options and will vest from 2 September 2029. The number of shares subject to each Award is determined by reference to a percentage of salary. Following Jonathan Murphy's appointment as Chief Executive on 1 September 2026, the number of shares subject to his Awards has been pro-rated to reflect his appointment part way through the 2026 award year.
Vesting of Performance Share Awards depends on the extent to which the performance conditions are satisfied, being performance metrics and targets related to total shareholder return, total property return and embodied carbon intensity.
Vesting of Restricted Share Awards depends on the performance underpins being achieved, namely no breach of financial covenants, satisfactory underlying performance and no material failure resulting in significant reputational damage and/or financial loss.
The performance period for the Awards commenced on 1 January 2026 and will end on 31 December 2028.
Following vesting and subject to the Group's share dealing procedures, Awards under the Plan can be exercised in accordance with the rules of the Plan. Jonathan Murphy is required to retain his net of tax liability number of vested Shares (if any) delivered under his Award for at least two years from the point of vesting (the 'Holding Period') and is entitled to additional vesting shares for dividend equivalents in respect of dividends paid on vested shares between the grant date and the date of vesting.
The Awards remain subject to the malus and clawback provisions of the Plan.
This announcement is made in accordance with Article 19 of the Market Abuse Regulation and Rule 3.1 of the Disclosure Guidance and Transparency Rules.
Notification of the transactions set out below was made to the Group on 2 September 2026.
For further information, please contact:
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Derwent London Tel: +44 (0)20 7659 3000 |
David Lawler, Company Secretary
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The information set out below is provided in accordance with the requirements of the UK Market Abuse Regulation.
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1. |
Details the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Jonathan S Murphy |
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2. |
Reason for the notification |
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a) |
Position / status |
Chief Executive |
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b) |
Initial notification / Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Derwent London plc |
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b) |
LEI |
213800BXKQ9KZNUR1M61 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
5p Ordinary shares in Derwent London plc
GB0002652740 |
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b) |
Nature of the transaction |
Grant of nil cost option awards under the Derwent London Performance Share Plan 2023. |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction |
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e) |
Date of the transaction |
2 September 2026 |
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f) |
Place of the transaction |
Outside a trading venue |
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