Director/PDMR Shareholding

Drax

02/04/2026 15:29

RNS Number : 3171Z

Drax Group PLC

02 April 2026

 

2 April 2026

 

Drax Group plc

("Drax" or "the Company")

 

Symbol: DRX

 

Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them

 

In accordance with Article 19 of the Market Abuse Regulation, the Company announces that it has been notified of the following transactions in the Company's Ordinary shares undertaken by the following persons discharging managerial responsibilities ("PDMRs").

 

Vesting of award under the Deferred Share Plan ("DSP")

On 1 April 2026, ordinary shares in Drax Group plc were issued to Will Gardiner (Chief Executive Officer) following conclusion of the three-year vesting period of the DSP award granted on 31 March 2023. The award granted in March 2023 represented the deferred element of the annual bonus paid for the financial year ended 31 December 2022.

 

The Company was notified on 1 April 2026 that Will Gardiner sold sufficient shares to satisfy his liability to Income Tax and National Insurance Contributions arising on the vesting of the award. His retained shares are subject to a two-year post-vesting holding period.

 

PDMR
Total DSP award vesting1
Number of shares sold at 886.12p per share
Net shares retained
Will Gardiner
74,066
34,934
39,132

 

Note:

1.     Includes shares in lieu of accrued dividends throughout the holding period.

 

Vesting of Awards under the Long-Term Incentive Plan 2020 ("LTIP")

On 1 April 2026, ordinary shares in Drax Group plc were issued to the below PDMRs following the conclusion of the three-year vesting period of the LTIP awards granted on 31 March 2023.

 

The Company was notified on 1 April 2026 that Will Gardiner sold sufficient shares to satisfy his Tax Liability arising on the vesting of shares. Paul Sheffield (Chief Commercial Officer) elected to sell all shares acquired on the vesting of his award. The retained shares for Will Gardiner are subject to a two-year post-vesting holding period.

 

PDMR
Total LTIP award vesting1
Number of shares sold at 886.12p per share
Net shares retained
Total number of shares held in the Company (incl. held by spouse)
Will Gardiner
114,421
53,967
60,454
1,374,881
Paul Sheffield
27,575
27,575
0
83,594

 

Note:

1.       Includes shares in lieu of accrued dividends throughout the vesting period.

 

 

Vesting of Replacement Award under the LTIP

The following LTIP award, which was granted on 30 September 2025 to replace awards forfeited with the previous employer, Shell plc ("Shell"), vested on 31 March 2026.  This is in accordance with the final performance vesting outcome of Shell's 2023 LTIP award as confirmed in Shell's 2025 annual report.

 

The Company was notified on 1 April 2026 that Frank Lemmink (Chief Financial Officer) retained all shares received as part of this award.

 

 

PDMR
Total LTIP award vesting1
Number of shares sold2
Net shares retained
Total number of shares held in the Company
Frank Lemmink
86,689
0
86,689
86,689

 

Notes:

1.       Includes shares in lieu of accrued dividends throughout the vesting period.

2.  Frank Lemmink elected to self-fund the tax liability arising on the vesting of the Replacement Award.

 

 

Details of PDMR / person closely associated with them ("PCA")
Name
Will Gardiner
Reason for the notification
Position / status
Chief Executive Officer
Initial notification / amendment
Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name
Drax Group plc
LEI
549300YPSNTXR4ZHSR98
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
Description of the financial instrument
Identification code
Ordinary shares of 11 16/29 pence
GB00B1VNSX38
Nature of the transaction
Vesting of the DSP and LTIP awards followed by the sale of shares to cover taxes due.
Price(s) and volume(s)
Price(s)
Volume(s)
886.12pence per share (sale price)
DSP: 74,066 nil cost shares vested of which 34,934 shares sold.
886.12pence per share (sale price)
LTIP: 114,421 nil cost shares of which 53,967 were sold.
Aggregated information
- Aggregated volume
- Price
188,487 shares vested
88,901 shares sold @886.12 pence per share
Date of the transaction
1 April 2026
Place of the transaction
XLON

 

 

Details of PDMR / person closely associated with them ("PCA")
Name
Paul Sheffield
Reason for the notification
Position / status
Chief Commercial Officer
Initial notification / amendment
Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name
Drax Group plc
LEI
549300YPSNTXR4ZHSR98
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
Description of the financial instrument
Identification code
Ordinary shares of 11 16/29 pence
GB00B1VNSX38
Nature of the transaction
Vesting of the LTIP award and sale of shares.
Price(s) and volume(s)
Price(s)
Volume(s)
886.12pence per share (sale price)
LTIP: 27,575 nil cost shares and all shares sold.
Aggregated information
- Aggregated volume
- Price
n/a single transaction
Date of the transaction
1 April 2026
Place of the transaction
XLON

 

 

Details of PDMR / person closely associated with them ("PCA")
Name
Frank Lemmink
Reason for the notification
Position / status
Chief Financial Officer
Initial notification / amendment
Initial Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name
Drax Group plc
LEI
549300YPSNTXR4ZHSR98
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
Description of the financial instrument
Identification code
Ordinary shares of 11 16/29 pence
GB00B1VNSX38
Nature of the transaction
Vesting of LTIP replacement award.
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
LTIP Replacement award:86,689 nil cost shares vested and all shares retained.
Aggregated information
- Aggregated volume
- Price
n/a single transaction
Date of the transaction
1 April 2026
Place of the transaction
N/A

 

 

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