Director/PDMR Shareholding
Summary by AI BETAClose X
3 September 2025
DRAX GROUP PLC
Symbol: DRX
("Drax", "the Group", "Drax Group", "the Company")
Notification of Transactions of Directors,
Persons Discharging Managerial Responsibility or Connected Persons
On 2 September 2025, awards over shares were made under The Drax Group plc Long Term Incentive Plan 2020 (LTIP) in connection with Frank Lemmink's appointment as Chief Financial Officer of the Company on 1 September 2025. Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility (PDMRs) have changed following the granting of these awards.
2025 LTIP Award
Mr Lemmink has been awarded a conditional award under the LTIP. Vesting of the LTIP award is subject to the satisfaction of certain performance conditions, which will be measured over the period of financial years ending on 31 December 2027, and to the participant remaining in employment until the vesting date. The award is due to vest on 20 March 2028. Awards to Executive Directors are subject to an additional two-year holding period following the date of vesting.
|
Director/PDMR |
Number of shares over which LTIP award made |
|
Frank Lemmink* |
133,577 |
*Executive Director of Drax Group plc.
Replacement awards
Two replacement awards have been granted to Mr Lemmink under the LTIP to replace awards forfeited on the termination of his previous employment. Vesting of the awards which were forfeited were subject to continued employment and certain performance conditions. Vesting of the replacement awards is also subject to continued employment within the Group and certain performance conditions. The vesting will be in tranches, taking account of the vesting dates of the forfeited awards, as set out below.
|
Date of vesting |
Number of shares over which share award made |
Performance conditions |
|
31 March 2026 |
114,417 |
Vesting shall be based on the final performance vesting outcome of Shell's 2023 LTIP award as confirmed in Shell's 2025 annual report. |
|
15 March 2027 |
108,866 |
Vesting shall be based on the final performance vesting outcome of the Drax 2024 LTIP award. |
Brett Gladden
Group Company Secretary
The notifications below are all in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
|
1. |
Details of PDMR / person closely associated with them ("PCA") |
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|
a) |
Name |
Frank Lemmink |
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|
2. |
Reason for the notification |
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|
a) |
Position / status |
Chief Financial Officer |
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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 |
Drax Group plc |
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|
b) |
LEI |
549300YPSNTXR4ZHSR98 |
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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 Identification code |
Ordinary shares of 11 16/29 pence GB00BIVNSX38 |
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|
b) |
Nature of the transaction |
Grant of three conditional awards under The Drax Group plc Long Term Incentive Plan 2020 (LTIP): (i) 2025 LTIP Award (ii) Replacement award 1 (iii) Replacement award 2
|
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|
c) |
Price(s) and volume(s) |
|
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|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
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|
e) |
Date of the transaction |
2 September 2025 |
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|
f) |
Place of the transaction |
Outside a trading venue |
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--ENDS--
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