REG - British Land Co PLC - Director/PDMR Shareholding

British LandAnnouncement

23/06/2020 10:00

RNS Number : 7876Q
  
British Land Co PLC
  
23 June 2020
  
 

Long-Term Incentive Plan ('LTIP') Grant and Restricted Share Plan ('RSP') Award
The British Land Company PLC (the 'Company') announces that on 22 June 2020:
·    under the LTIP, conditional awards of the Company's ordinary shares of 25 pence each ('Performance Shares') were granted to Executive Directors and other Persons Discharging Managerial Responsibilities ('PDMRs'); and 
·    under the RSP, conditional awards ('Restricted Shares') of the Company's ordinary shares of 25 pence each were awarded to PDMRs
as outlined below.
 
The Remuneration Committee exercised discretion and reduced the LTIP grant size by 10% to reflect the current share price relative to the share price in recent years.  This reduction resulted in the Executive Directors receiving an LTIP award of 225% of salary, reduced from 250% of salary.
 







Performance Shares at nil consideration








Directors












Chris Grigg


476,807








Simon Carter


272,812


























Performance Shares at nil consideration


Restricted Shares




PDMRs












Emma Cariaga


52,512


23,338




Stacey Clark 


30,362


13,494




Ann Henshaw


49,648


22,065




Sally Jones


73,457


32,647




David Lockyer


52,512


23,338




Brona McKeown


53,563


23,805




Roger Madelin


54,634


24,282




Darren Richards


73,457


32,647




Nigel Webb


57,366


25,496



The above Performance Shares conditionally vest on the third anniversary of grant, subject to performance conditions.  Those conditions are based 40% on Total Property Return, 20% on Total Accounting Return and 40% on Total Shareholder Return (20% against a FTSE100 comparator group and 20% against a FTSE350 property comparator group).
The Restricted Shares conditionally vest on the third anniversary of the award.  No performance conditions attach to the Restricted Shares.
These transactions took place outside of a trading venue.



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name
 


1.    Chris Grigg
2.    Simon Carter
3.    Emma Cariaga
4.    Stacey Clark
5.    Ann Henshaw
6.    David Lockyer
7.    Roger Madelin
8.    Brona McKeown
9.    Sally Jones
10.  Darren Richards
11.  Nigel Webb
 




2


Reason for the notification




a)


Position/status
 


1.    PDMR - Chief Executive Officer
2.    PDMR - Chief Financial Officer
3.    PDMR - Executive Committee member
4.    PDMR - Executive Committee member
5.    PDMR - Executive Committee member
6.    PDMR - Executive Committee member
7.    PDMR - Executive Committee member
8.    PDMR - Executive Committee member
9.    PDMR - Executive Committee member
10.  PDMR - Executive Committee member
11.  PDMR - Executive Committee member
 




b)


Initial notification/Amendment
 


Initial notification




3


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




a)


Name
 


The British Land Company PLC




b)


LEI
 


RV5B68J2GV3QGMRPW209




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 financial instrument, type of financial instrument
 
Identification code
 


Ordinary shares of 25 pence each
 
 
 
GB0001367019
 




b)


Nature of the transaction
 


Grant of conditional Performance Share Award under the Long Term Incentive Plan scheme 
 




c)


Price(s) and volume(s)
 


 



Price(s) (pence)


Volume(s)




1.    Nil
2.    Nil
3.    Nil
4.    Nil
5.    Nil
6.    Nil
7.    Nil
8.    Nil
9.    Nil
10.  Nil
11.  Nil


1.    476,807
2.    272,812
3.    52,512
4.    30,362
5.    49,648
6.    52,512
7.    54,634
8.    53,563
9.    73,457
10.  73,457
11.  57,366



 




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
N/A (single transaction)




e)


Date of the transaction
 


2020-06-22




 


 


 




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name
 


1.    Emma Cariaga
2.    Stacey Clark
3.    Ann Henshaw
4.    David Lockyer
5.    Roger Madelin
6.    Brona McKeown
7.    Sally Jones
8.    Darren Richards
9.    Nigel Webb
 




2


Reason for the notification




a)


Position/status
 


1.    PDMR - Executive Committee member
2.    PDMR - Executive Committee member
3.    PDMR - Executive Committee member
4.    PDMR - Executive Committee member
5.    PDMR - Executive Committee member
6.    PDMR - Executive Committee member
7.    PDMR - Executive Committee member
8.    PDMR - Executive Committee member
9.    PDMR - Executive Committee member
 




b)


Initial notification/Amendment
 


Initial notification




3


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




a)


Name
 


The British Land Company PLC




b)


LEI
 


RV5B68J2GV3QGMRPW209




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 financial instrument, type of financial instrument
 
Identification code
 


Ordinary shares of 25 pence each
 
 
 
GB0001367019
 




b)


Nature of the transaction
 


Grant of conditional share awards under the Restricted Share Plan scheme 
 




c)


Price(s) and volume(s)
 


 



Price(s) (pence)


Volume(s)




1.    Nil
2.    Nil
3.    Nil
4.    Nil
5.    Nil
6.    Nil
7.    Nil
8.    Nil
9.    Nil
 


1.    23,338
2.    13,494
3.    22,065
4.    23,338
5.    24,282
6.    23,805
7.    32,647
8.    32,647
9.    25,496



 




d)


Aggregated information
-      Aggregated volume
-      Price
 


N/A (single transaction)




e)


Date of the transaction
 


2020-06-22




f)


Place of the transaction
 


Outside of a trading venue



 
This notification is made in accordance with the requirements of the EU Market Abuse Regulation.  The Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.
 



Enquiries








Company Secretariat


0207 486 4466



 


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