REG - Aston Martin Lagonda - LTIP and Deferred Bonus Awards

Aston Martin Lagonda Global HoldingsAnnouncement

26/05/2023 09:30

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RNS Number : 7367A  Aston Martin Lagonda Glob.Hldgs PLC  26 May 2023

26 May 2023

Aston Martin Lagonda Global Holdings plc

Notification of transactions by Directors, Persons Discharging Managerial
Responsibilities ("PDMRs") and persons closely associated with them

Aston Martin Lagonda Global Holdings plc (the "Company") announces the
following changes in the interests of Directors in the Ordinary Shares in the
Company ("Shares"), which took place on 24 May 2023.

Long-term Incentive Plan awards

In accordance with the rules of the Aston Martin Lagonda Long-Term Incentive
Plan 2018 ("LTIP"), the Director named below was granted nil-cost options over
Shares as follows:

·      Doug Lafferty (CFO) - 352,852 shares (200% of salary)

The LTIP award is the 2023 grant and is subject to the performance conditions,
performance periods, vesting periods and malus and clawback provisions set out
below, in-line with the Remuneration Policy approved in 2022, and as disclosed
in the 2022 Directors' Remuneration Report.

2023 LTIP performance measures and targets

                                 2023 LTIP targets     Vesting*
                                                       (as a % of maximum)

 Adjusted EBITDA      Threshold  400                   20%
 (£m in FY25)

 (80% of award)
                      Stretch    475                   80%
                      Maximum    550                   100%
 Relative TSR**       Threshold  Rank 6(th) (median)   20%

 (vs. luxury peers)

(20% of award)
                      Maximum    Rank 3(rd) or above   100%

(80(th) percentile)

* Vesting will be on a straight-line basis between each of threshold and
stretch, and stretch and maximum for the EBITDA

   element and threshold and maximum for the TSR element.

**TSR performance will be measured on a ranked basis against the following
luxury companies: Burberry, Capri Holdings, Compagnie Financiere Richemont,
Ferrari, Hermes International, Kering, LVMH, Moncler, Prada and Ralph Lauren.

·      The Remuneration Committee retains discretion to adjust the
vesting levels to ensure they reflect underlying business performance and any
other relevant factors to ensure that the value at vesting is fully reflective
of the performance delivered and executives do not receive unjustified
windfall gains.

Performance period

Performance for both measures will be measured over three financial years to
31 December 2025. Subject to performance, awards will vest 3 years from grant,
following the announcement of results for 2025 but subject to a further 2-year
holding period post vest (net of tax).

The CFO will be required to hold at least 75% of any shares that vest (net of
tax) until he has met his shareholding guidelines under the shareholding
policy.

Deferred Share Bonus Plan awards

In accordance with the rules of the Aston Martin Lagonda Deferred Share Bonus
Plan 2018 ("DBSP"), the Directors named below were granted nil-cost options
over Shares as follows:

·      Amedeo Felisa (CEO) - 5,820 shares

·      Doug Lafferty (CFO) - 12,221 shares

The DBSP awards are in relation to the 2022 annual bonus which, as disclosed
in the 2022 Directors' Remuneration Report, was to be delivered 50% in cash
and 50% in deferred shares.  The number of shares granted reflects the net
bonus amount (post tax and NI).  Shares under the DBSP awards are deferred
for a period of 3 years from grant and will be released, subject to continued
employment, on 24 May 2026.

Malus and Clawback:

·      Malus and clawback provisions will be operated at the discretion
of the Remuneration Committee in respect of awards granted under the LTIP and
DBSP where it considers that there are exceptional circumstances. Such
exceptional circumstances may include serious reputational damage, a failure
of risk management, an error in available financial information, which led to
the award being greater than it would otherwise have been or personal
misconduct.

·      Clawback may be applied for a period of up to three years for any
LTIP and DBSP awards.

 

 

Enquiries

 Investors and Analysts
 Sherief Bakr    Director of Investor Relations              +44 (0)7789 177547

sherief.bakr@astonmartin.com

 Holly Grainger  Deputy Head, Investor Relations             +44 (0)7442 989551

holly.grainger@astonmartin.com

 Media
 Kevin Watters   Director of Communications                  +44 (0)7764 386683

kevin.watters@astonmartin.com

 Paul Garbett    Head of Corporate and Brand Communications  +44 (0)7501 380799

paul.garbett@astonmartin.com

 Teneo
 Harry Cameron                                               +44 (0)20 7353 4200

 

 

 

 

Notification of transactions by Directors, Persons Discharging Managerial
Responsibilities ("PDMRs") and persons closely associated with them

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Doug Lafferty
 2   Reason for the notification
 a)  Position/status                                              Chief Financial Officer
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Aston Martin Lagonda Global Holdings plc
 b)  LEI                                                          213800167WOVOK5ZC776
 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

Identification code

                                                                  ISIN:  GB00BN7CG237
 b)  Nature of the transaction                                    Grant of 2023 LTIP awards
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  nil       352,852
 d)  Aggregated information                                       352,852

- Aggregated volume                                         nil

     - Price
 e)  Date of the transaction                                      24 May 2023
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

352,852

nil

e)

Date of the transaction

24 May 2023

f)

Place of the transaction

Outside a trading venue

 

Notification of transactions by Directors, Persons Discharging Managerial
Responsibilities ("PDMRs") and persons closely associated with them

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Amedeo Felisa
 2   Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Aston Martin Lagonda Global Holdings plc
 b)  LEI                                                          213800167WOVOK5ZC776
 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

Identification code

                                                                  ISIN:  GB00BN7CG237
 b)  Nature of the transaction                                    Grant of 2023 DBSP awards
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  nil       5,820
 d)  Aggregated information                                       5,820

- Aggregated volume                                         nil

     - Price
 e)  Date of the transaction                                      24 May 2023
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

5,820

nil

e)

Date of the transaction

24 May 2023

f)

Place of the transaction

Outside a trading venue

 

Notification of transactions by Directors, Persons Discharging Managerial
Responsibilities ("PDMRs") and persons closely associated with them

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Doug Lafferty
 2   Reason for the notification
 a)  Position/status                                              Chief Financial Officer
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Aston Martin Lagonda Global Holdings plc
 b)  LEI                                                          213800167WOVOK5ZC776
 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

Identification code

                                                                  ISIN:  GB00BN7CG237
 b)  Nature of the transaction                                    Grant of 2023 DBSP awards
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  nil       12,221
 d)  Aggregated information                                       12,221

- Aggregated volume                                         nil

     - Price
 e)  Date of the transaction                                      24 May 2023
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

12,221

nil

e)

Date of the transaction

24 May 2023

f)

Place of the transaction

Outside a trading venue

 

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