REG - Drax Group Plc - Director/PDMR Shareholding

DraxAnnouncement

05/04/2024 08:00

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RNS Number : 4114J  Drax Group PLC  05 April 2024

05 April 2024

 

Drax Group plc

("Drax" or "the Company")

 

Symbol: DRX

 

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

 

 

Vesting of Deferred Share Plan Shares

On 3 April 2024, shares in Drax Group plc were issued to Will
Gardiner (CEO) and Andy Skelton (CFO) as set forth in the table below.

 

The issuance was an automatic vesting on conclusion of a three-year vesting
period for awards originally granted on 1 April 2021 under the Drax
Group plc Deferred Share Plan (the "DSP"). The shares granted in April
2021 represented the deferred element of the annual bonus for the financial
year ended 31 December 2020.

 

The Company was notified on 3 April 2024 that Will Gardiner and Andy
Skelton each sold sufficient shares to satisfy their liability to Income Tax
and National Insurance Contributions ("Tax Liability") arising on the vesting
of shares. Shares were sold at a price of 489.1012 pence per share. The
retained shares for both Will Gardiner and Andy Skelton are subject to a
two-year post-vesting holding period.

 

 Director/PDMR  Total DSP award vesting(1)  Number of shares sold to meet the tax liability  Net shares retained
 Will Gardiner  60,237                      28,412                                           31,825
 Andy Skelton   33,645                      15,869                                           17,776

 

Notes:

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

 

Vesting of Long-Term Incentive Plan Shares

On 3 April 2024, shares in Drax Group plc were issued to Persons Discharging
Managerial Responsibility ("PDMRs") as set forth in the table below.

 

The issuance was an automatic vesting on conclusion of a three-year vesting
period for awards originally granted on 1 April 2021 under the Drax Group plc
Long-Term Incentive Plan 2020 (the "LTIP").

 

The Company was notified on 3 April 2024 that Will Gardiner, Andy Skelton and
Paul Sheffield sold sufficient shares to satisfy their liability to Income Tax
and National Insurance Contributions ("Tax Liability") arising on the vesting
of shares. Shares were sold at a price of 489.1012 pence per share. The
retained shares for both Will Gardiner and Andy Skelton are subject to a
two-year post-vesting holding period. Penelope Small sold all shares arising
on the vesting of the 1 April 2021 grant under the LTIP. Shares were sold at a
price of 489.1012 pence per share.

 

 

 

 

 

 Director/PDMR   Total LTIP award vesting  Number of shares sold to meet the tax liability  Net shares retained  Total number of shares held in the Company (incl. held by spouse)
 Will Gardiner   294,746                   139,018                                          155,728              1,272,964
 Andy Skelton    168,039                   79,256                                           88,783               577,614
 Paul Sheffield  74,262                    35,026                                           39,236               55,554

 

 

 Director/PDMR   Total LTIP award vesting  Number of shares sold  Net shares retained  Total number of shares held in the Company (incl. held by spouse)
 Penelope Small  73,684                    73,684                 0                    130,425

 

 

 

The information below is provided in accordance with the requirements of
Article 19 of the UK Market Abuse Regulation.

 

 

 Details of PDMR / person closely associated with them ("PCA")
 Name                                     Will Gardiner
 Reason for the notification
 Position / status                        Group Chief Executive
 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  Ordinary shares of 11 16/29 pence

 Identification code                      GB00B1VNSX38
 Nature of the transaction                Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to
                                          cover taxes due.
 Price(s) and volume(s)                   Price(s)                  Volume(s)
                                          489.1012 pence per share  139,018
                                          489.1012 pence per share  28,412
 Aggregated information

 -     Aggregated volume                  167,430

 -     Price                              489.1012 pence per share
 Date of the transaction                  03 April 2024
 Place of the transaction                 XLON

Aggregated information

-     Aggregated volume

-     Price

 

167,430

489.1012 pence per share

Date of the transaction

03 April 2024

Place of the transaction

XLON

 

 

 Details of PDMR / person closely associated with them ("PCA")
 Name                                     Andy Skelton
 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  Ordinary shares of 11 16/29 pence

 Identification code                      GB00B1VNSX38
 Nature of the transaction                Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to
                                          cover taxes due.
 Price(s) and volume(s)                   Price(s)                  Volume(s)
                                          489.1012 pence per share  79,256
                                          489.1012 pence per share  15,869
 Aggregated information

 -     Aggregated volume                  95,125

 -     Price                              489.1012 pence per share
 Date of the transaction                  03 April 2024
 Place of the transaction                 XLON

Aggregated information

-     Aggregated volume

-     Price

 

95,125

489.1012 pence per share

Date of the transaction

03 April 2024

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  Ordinary shares of 11 16/29 pence

 Identification code                      GB00B1VNSX38
 Nature of the transaction                Automatic vesting of the LTIP award and sale of sufficient shares to cover
                                          taxes due.
 Price(s) and volume(s)                   Price(s)                  Volume(s)
                                          489.1012 pence per share  35,026

 

 Aggregated information

 -     Aggregated volume                  n/a

 -     Price
 Date of the transaction                  03 April 2024
 Place of the transaction                 XLON

 

 

Aggregated information

-     Aggregated volume

-     Price

 

n/a

Date of the transaction

03 April 2024

Place of the transaction

XLON

 

 

 

 

 Details of PDMR / person closely associated with them ("PCA")
 Name                                     Penelope Small
 Reason for the notification
 Position / status                        Interim Chief Operations 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  Ordinary shares of 11 16/29 pence

 Identification code                      GB00B1VNSX38
 Nature of the transaction                Automatic vesting of the LTIP award and sale of all vested shares.
 Price(s) and volume(s)                   Price(s)                  Volume(s)
                                          489.1012 pence per share  73,684

 

 Aggregated information

 -     Aggregated volume                  n/a

 -     Price
 Date of the transaction                  03 April 2024
 Place of the transaction                 XLON

 

 

Aggregated information

-     Aggregated volume

-     Price

 

n/a

Date of the transaction

03 April 2024

Place of the transaction

XLON

 

 

--ENDS--

 

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