REG - Great Portland Ests. - Director/PDMR Shareholding

Great Portland EstatesAnnouncement

30/07/2020 10:05

RNS Number : 6096U
  
Great Portland Estates PLC
  
30 July 2020
  
 

DIRECTOR/PDMR SHAREHOLDING 
 
30 July 2020
 
Great Portland Estates plc (the "Company" or "GPE")
 
Grant of Awards under the GPE Long-Term Incentive Plan (the "LTIP")
 
The Company announces that on 29 July 2020, the following Directors were granted awards over Ordinary Shares of 15 5/19 pence each in the Company under the LTIP, the number of shares being calculated using a market price of 580.60 pence per share: 
 



Director


Date of Grant


Performance Award
Number of Shares


Vesting Date


Date Exercisable




Toby Courtauld


29.07.20


317,906


29.07.23


29.07.25




Nick Sanderson


29.07.20


218,722


29.07.23


29.07.25



 
As outlined in the Directors' remuneration policy approved by shareholders on 24 July 2020, the Remuneration Committee has discretion to override and reduce formulaic outcomes under the LTIP awards should this be considered appropriate in the circumstances. 
 
The vested shares will be subject to a two-year holding period following the third anniversary of the date of grant.
The above awards were granted as nil cost options which are subject to the following criteria relating to the Company's performance over the three-year performance period:
 



Performance measure over 3 years


% of award


Vesting level










Start of measurement period












20%


Straight-line vesting between these points


100%








Total Accounting Return


50%


868p






925p


1 April prior to grant




TSR against constituents of FTSE 350 Real Estate Sector (excluding agencies)


50%


Median






Upper quartile


Grant date



 
The Notification of Dealing Forms can be found below.  This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
 



1.


Details of PDMR/person closely associated with them ("PCA")




a)


Name


Toby Courtauld




2.


Reason for the notification




a)


Position/status


Chief Executive




b)


Initial notification/amendment


Initial notification




3.


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




a)


Name


Great Portland Estates plc
 




b)


Legal Entity Identifier


213800JMEDD2Q4N1MC42




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


Ordinary shares of 15 5/19p
ISIN: GB00BF5H9P87




b)


Nature of the transaction


Grant of a nil cost option performance share award under the Company's Long Term Incentive Plan.




c)


Price(s) and volume(s)


Price


Volume(s)




Ordinary shares


Nil consideration


317,906




d)


Aggregated information
- Aggregated volume 
- Aggregated price 
- Aggregated total


Aggregated volume: 317,906
Aggregated price: 0.0p 
Aggregated total: 317,906 ordinary shares




e)


Date of transaction


29 July 2020




f)


Place of the transaction


Outside a trading venue



 



1.


Details of PDMR/person closely associated with them ("PCA")




a)


Name


Nick Sanderson




2.


Reason for the notification




a)


Position/status


Finance & Operations Director




b)


Initial notification/amendment


Initial notification




3.


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




a)


Name


Great Portland Estates plc
 




b)


Legal Entity Identifier


213800JMEDD2Q4N1MC42




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


Ordinary shares of 15 5/19 p
ISIN: GB00BF5H9P87




b)


Nature of the transaction


Grant of a nil cost option performance share award under the Company's Long Term Incentive Plan




c)


Price(s) and volume(s)


Price


Volume(s)




Ordinary shares


Nil consideration


218,722




d)


Aggregated information
- Aggregated volume 
- Aggregated price 
- Aggregated total
 


Aggregated volume: 218,722
Aggregated price: 0.0p 
Aggregated total: 218,722 ordinary shares




e)


Date of transaction


29 July 2020




f)


Place of the transaction


Outside a trading venue



 
 
 



Contacts:




























Great Portland Estates plc


+44


(0)


20


7647


3000








Darren Lennark, Company Secretary 
























Stephen Burrows, Director of Financial Reporting and Investor Relations









































 


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