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REG - National Grid PLC - Director/PDMR Shareholding

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RNS Number : 8586Q  National Grid PLC  30 June 2022

30 June 2022

 

National Grid plc ('National Grid' or 'Company')

 

Notification of Transactions of Persons Discharging Managerial
Responsibilities ('PDMRs')

 

This announcement is made in accordance with Article 19 of the Market Abuse
Regulation ('MAR') and relates to the following PDMRs being granted awards
under the Company's Long Term Performance Plan ('LTPP') on 28 June 2022 and a
PDMR acquiring shares following the partial vesting of an award under the
Company's Retention Award Plan ('RAP').

Each of the LTPP Awards will vest on or after 1 July 2025 and are conditional
on continued employment and on the satisfaction of the performance conditions
approved by the Remuneration Committee.

In addition, as disclosed in the Company's 2021/22 Annual Report and Accounts,
Executive Directors are required to retain the after-tax value of any shares
under the LTPP award until the shareholding requirement is met, and in any
event for two years after receipt. The LTPP award is subject to clawback and
malus provisions.

For further details of the LTPP, please see the Company's 2021/22 Annual
Report and Accounts.

The RAP vesting relates to a RAP Award made to the PDMR in June 2022. The
award was conditional on continued employment with the Company and
satisfactory conduct and performance. The RAP award is subject to malus and
clawback provisions.

In accordance with MAR the relevant Financial Conduct Authority notifications
are set out below.

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Andy Agg

 2    Reason for the notification

 a)   Position/status                                              Chief Financial Officer

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         National Grid plc

 b)   LEI                                                          8R95QZMKZLJX5Q2XR704

 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 12 204/473p each

      Identification code

                                                                   GB00BDR05C01
 b)   Nature of the transaction                                    Acquisition of a conditional award over securities, for nil consideration,

                                                            under the Long Term Performance Plan.

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       201,727

 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2022.06.28

 f)   Place of the transaction                                     Outside of a Trading Venue

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2022.06.28

f)

 

Place of the transaction

 

 

Outside of a Trading Venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Justine Campbell

 2    Reason for the notification

 a)   Position/status                                              Group General Counsel & Company Secretary

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         National Grid plc

 b)   LEI                                                          8R95QZMKZLJX5Q2XR704

 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 12 204/473p each

      Identification code

                                                                   GB00BDR05C01
 b)   Nature of the transaction                                    Acquisition of a conditional award over securities, for nil consideration,

                                                            under the Long Term Performance Plan.

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       100,541
 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2022.06.28

 f)   Place of the transaction                                     Outside of a Trading Venue

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2022.06.28

f)

 

Place of the transaction

 

 

Outside of a Trading Venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Adriana Karaboutis

 2    Reason for the notification

 a)   Position/status                                              Chief Information and Digital Officer

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         National Grid plc

 b)   LEI                                                          8R95QZMKZLJX5Q2XR704

 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  American Depository Shares

      Identification code

                                                                   US 6362744095
 b)   Nature of the transaction                                    Acquisition of a conditional award over securities, for nil consideration,

                                                            under the Long Term Performance Plan.

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       27,139
 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2022.06.28

 f)   Place of the transaction                                     Outside of a Trading Venue

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2022.06.28

f)

 

Place of the transaction

 

 

Outside of a Trading Venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         John Pettigrew

 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, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         National Grid plc

 b)   LEI                                                          8R95QZMKZLJX5Q2XR704

 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 12 204/473p each

      Identification code

                                                                   GB00BDR05C01
 b)   Nature of the transaction                                    Acquisition of a conditional award over securities, for nil consideration,

                                                            under the Long Term Performance Plan.

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       357,606
 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2022.06.28

 f)   Place of the transaction                                     Outside of a Trading Venue

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2022.06.28

f)

 

Place of the transaction

 

 

Outside of a Trading Venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Will Serle

 2    Reason for the notification

 a)   Position/status                                              Chief People and Culture Officer

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         National Grid plc

 b)   LEI                                                          8R95QZMKZLJX5Q2XR704

 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 12 204/473p each

      Identification code

                                                                   GB00BDR05C01
 b)   Nature of the transaction                                    Acquisition of a conditional award over securities, for nil consideration,

                                                            under the Long Term Performance Plan.

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       89,430
 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2021.06.28

 f)   Place of the transaction                                     Outside of a Trading Venue

 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 12 204/473p each

      Identification code

                                                                   GB00BDR05C01
 b)   Nature of the transaction                                    Acquisition of shares in respect of the 1 June 2022 RAP Award partially

                                                            vesting.

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       15,370
 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2021.06.28

 f)   Place of the transaction                                     London Stock Exchange (XLON)

 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 12 204/473p each

      Identification code

                                                                   GB00BDR05C01

 b)   Nature of the transaction                                    Automatic disposal of shares resulting from RAP Award exercise to cover tax

                                                            liabilities.

 c)   Price(s) and volume(s)

Price(s)       Volume(s)

                                                                   GBP 10.667258  7,597
 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2022.06.28

 f)   Place of the transaction                                     London Stock Exchange (XLON)

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2021.06.28

f)

 

Place of the transaction

 

 

Outside of a Trading Venue

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

 

Identification code

 

Ordinary shares of 12 204/473p each

 

 

 

GB00BDR05C01

b)

 

Nature of the transaction

 

 

Acquisition of shares in respect of the 1 June 2022 RAP Award partially
vesting.

c)

 

Price(s) and volume(s)

 

 

 

 Price(s)  Volume(s)

 Nil       15,370

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2021.06.28

f)

 

Place of the transaction

 

 

London Stock Exchange (XLON)

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

 

Identification code

 

Ordinary shares of 12 204/473p each

 

 

 

GB00BDR05C01

 

b)

 

Nature of the transaction

 

 

Automatic disposal of shares resulting from RAP Award exercise to cover tax
liabilities.

c)

 

Price(s) and volume(s)

 

 

 

 Price(s)       Volume(s)

 GBP 10.667258  7,597

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2022.06.28

f)

 

Place of the transaction

 

 

London Stock Exchange (XLON)

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Ben Wilson

 2    Reason for the notification

 a)   Position/status                                              Chief Strategy & External Affairs Officer

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         National Grid plc

 b)   LEI                                                          8R95QZMKZLJX5Q2XR704

 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 12 204/473p each

      Identification code

                                                                   GB00BDR05C01
 b)   Nature of the transaction                                    Acquisition of a conditional award over securities, for nil consideration,

                                                            under the Long Term Performance Plan.

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       98,247
 d)   Aggregated information

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      2022.06.28

 f)   Place of the transaction                                     Outside of a Trading Venue

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

2022.06.28

f)

 

Place of the transaction

 

 

Outside of a Trading Venue

 

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