REG - Law Debenture Corp - Director/PDMR Shareholding
20/03/2026 10:45
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RNS Number : 5002X Law Debenture Corp PLC 20 March 2026
20 March 2026
The Law Debenture Corporation p.l.c.
Notification of Transactions by Persons Discharging Managerial Responsibility
The Law Debenture Corporation p.l.c. (the "Corporation") announces that the
following transactions, set out below, were undertaken by directors / persons
discharging managerial responsibility ("PDMRs").
The relevant notifications set out below are provided in accordance with the
requirements of UK market abuse regulations.
Deferred Share Bonus Plan
Acquisition of shares
As set out in the Corporation's Remuneration Policy approved by shareholders
on 30 March 2023, half of any bonus earned by the Executive Directors above
£100,000 will be deferred in shares for three years with enhanced malus and
clawback provisions applying. In accordance with that policy, 6,009 deferred
share awards for Denis Jackson and 2,624 deferred share awards for Trish
Houston, both Executive Directors, were granted under the Plan on 19 March
2026 at a price of 11,124 pence per share (the "awards").
The awards granted under the Plan are held in trust and no consideration is
payable on the grant or vesting of the awards. The number of shares to which
each award relates is increased by the reinvestment of dividends due on the
shares held in trust.
1 Details of the person discharging managerial responsibilities
a) Name Denis Jackson
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Law Debenture Corporation p.l.c.
b) LEI 2138006E39QX7XV6PP21
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, type of instrument Ordinary shares of 5 pence each
Identification code GB0031429219
b) Nature of the transaction 6,009 deferred share awards granted under the Corporation's Deferred Share
Bonus Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil consideration 6,009
d) Aggregated information
- Aggregated volume 6,009
- Price Nil consideration
e) Date of the transaction 19 March 2026
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities
a) Name Trish Houston
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Law Debenture Corporation p.l.c.
b) LEI 2138006E39QX7XV6PP21
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, type of instrument Ordinary shares of 5 pence each
Identification code
GB0031429219
b) Nature of the transaction 2,624 deferred share awards granted under the Corporation's Deferred Share
Bonus Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil consideration 2,624
d) Aggregated information
- Aggregated volume 2,624
- Price Nil consideration
e) Date of the transaction 19 March 2026
f) Place of the transaction Outside a trading venue
b)
Nature of the transaction
2,624 deferred share awards granted under the Corporation's Deferred Share
Bonus Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil consideration
2,624
d)
Aggregated information
- Aggregated volume
2,624
- Price
Nil consideration
e)
Date of the transaction
19 March 2026
f)
Place of the transaction
Outside a trading venue
Long Term Incentive Plan
The following transactions were also undertaken by PDMRs in accordance with
the rules of the Corporation's Long Term Incentive Plan ('LTIP'). The LTIP was
established to reward eligible participants in a way that aligns their
interests with the interests of shareholders and with the Corporation's
long-term strategic plan.
Name Status Number of Ordinary Shares awarded in 2026 Option Price
Denis Jackson Chief Executive Officer 62,433 £Nil
Trish Houston Chief Operating Officer 47,195 £Nil
Furthermore, options to acquire Ordinary Shares have been awarded to members
of the senior management team within the Corporation's group of companies. In
aggregate, options to acquire 157,149 Ordinary Shares have been awarded under
the LTIP ('LTIP Awards') on 19 March 2026.
No consideration was paid for the grant of the LTIP Awards which are
structured as nil cost options. The number of Ordinary Shares granted under
each LTIP Award has been calculated using an Ordinary Share price of 11,124
pence per share for the 2026 award being the average of the closing share
prices over the five dealing days from the date of the Annual Report
announcement.
The vesting date of the LTIP Awards will be 19 March 2029, being the third
anniversary of the award dates. Once vested, the LTIP Awards will normally be
exercisable until the day before the tenth anniversary of the award date. The
LTIP Awards are subject to a two-year holding period commencing on vesting.
The LTIP Awards will vest after three years based on a compound annual growth
rate in profits before interest and tax of the Corporation's independent
professional services business measured over a three year period. At 4% p.a.
growth 20% of the LTIP Award will vest rising on a straight-line basis to 100%
for 14% p.a. growth. Under the LTIP rules, the Remuneration Committee has
full discretion to ensure that the final vesting outturn reflects all relevant
factors, including consideration of any windfall gains.
The relevant notifications set out below are provided in accordance with the
requirements of UK market abuse regulations.
1 Details of the person discharging managerial responsibilities
a) Name Denis Jackson
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Law Debenture Corporation p.l.c.
b) LEI 2138006E39QX7XV6PP21
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, type of instrument Ordinary shares of 5 pence each
Identification code GB0031429219
b) Nature of the transaction Grant of nil cost options under The Law Debenture Corporation p.l.c. Long Term
Incentive Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil consideration 62,433
d) Aggregated information
- Aggregated volume 62,433
- Price Nil consideration
e) Date of the transaction 19 March 2026
f) Place of the transaction Outside a trading venue
b)
Nature of the transaction
Grant of nil cost options under The Law Debenture Corporation p.l.c. Long Term
Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil consideration
62,433
d)
Aggregated information
- Aggregated volume
62,433
- Price
Nil consideration
e)
Date of the transaction
19 March 2026
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities
a) Name Trish Houston
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Law Debenture Corporation p.l.c.
b) LEI 2138006E39QX7XV6PP21
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, type of instrument Ordinary shares of 5 pence each
Identification code
GB0031429219
b) Nature of the transaction Grant of nil cost options under The Law Debenture Corporation p.l.c. Long-Term
Incentive Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil consideration 47,195
d) Aggregated information
- Aggregated volume
47,195
- Price Nil consideration
e) Date of the transaction 19 March 2026
f) Place of the transaction Outside a trading venue
b)
Nature of the transaction
Grant of nil cost options under The Law Debenture Corporation p.l.c. Long-Term
Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil consideration
47,195
d)
Aggregated information
- Aggregated volume
47,195
- Price
Nil consideration
e)
Date of the transaction
19 March 2026
f)
Place of the transaction
Outside a trading venue
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