REG - Drax Group Plc - Director/PDMR Shareholding

DraxAnnouncement

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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 vesting(1)  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 vesting(1)  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 vesting(1)  Number of shares sold(2)  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  Ordinary shares of 11 16/29 pence

 Identification code                      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)
                                          886.12 pence per share (sale price)  DSP: 74,066 nil cost shares vested of which 34,934 shares sold.
                                          886.12 pence per share (sale price)  LTIP: 114,421 nil cost shares of which 53,967 were sold.
 Aggregated information

 -     Aggregated volume                  188,487 shares vested

 -     Price                              88,901 shares sold @ 886.12 pence per share
 Date of the transaction                  1 April 2026
 Place of the transaction                 XLON

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  Ordinary shares of 11 16/29 pence

 Identification code                      GB00B1VNSX38
 Nature of the transaction                Vesting of the LTIP award and sale of shares.
 Price(s) and volume(s)                   Price(s)                             Volume(s)
                                          886.12 pence per share (sale price)  LTIP: 27,575 nil cost shares and all shares sold.
 Aggregated information

 -     Aggregated volume                  n/a single transaction

 -     Price
 Date of the transaction                  1 April 2026
 Place of the transaction                 XLON

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  Ordinary shares of 11 16/29 pence

 Identification code                      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                  n/a single transaction

 -     Price
 Date of the transaction                  1 April 2026
 Place of the transaction                 N/A

Aggregated information

-     Aggregated volume

-     Price

 

n/a single transaction

Date of the transaction

1 April 2026

Place of the transaction

N/A

 

 

--END--

 

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