REG - PageGroup plc - Director/PDMR Shareholding

PagegroupAnnouncement

14/03/2023 12:45

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RNS Number : 9451S  PageGroup plc  14 March 2023

14 March 2023

 

PageGroup plc (the "Company")

 

Notification of Interests of Directors

 

In accordance with the UK Market Abuse Regulation, notification is hereby
given of transactions in the ordinary shares of the Company as follows:

 

The Company's CEO, Nick Kirk, was granted an award in respect of 57,267
ordinary shares of 1p in the Company ("Shares") under a historic incentive
plan in March 2020 (being before he became a director and PDMR of the
Company).  This award was granted subject to a three-year vesting period,
with vesting determined by achievement against targets which were set by the
Remuneration Committee.  Following the Remuneration Committee's consideration
of the performance against targets, the award, which is in the form of
forfeitable "restricted shares" which have been held by a nominee on Mr Kirk's
behalf during the three-year vesting period, vested on 13 March 2023 in
respect of 38,178 Shares and the remaining balance (which did not vest) have
reverted to the Company's employee benefit trust for nil consideration.  Of
the Shares which vested, Mr Kirk sold 17,989 Shares to settle his income tax
and social security liabilities arising on the vesting of the award.

 

In March 2022 (also before he became a director and PDMR of the Company), Mr
Kirk was granted an award under the Company's Management Incentive Plan
("MIP") in respect of 80,121 Shares.  Awards under the MIP vest after three
years.  Depending on the level of performance achieved against pre-determined
targets set by the Remuneration Committee, shares may lapse on the first
anniversary of the award, with the remaining shares vesting after a further
two years, subject to a continued employment condition.  Following an
assessment by the Remuneration Committee of the targets set, 16,826 shares
have lapsed and reverted to the Company's employee benefit trust for nil
consideration.  The balance 63,295 will continue to be held by the nominee on
behalf of Mr Kirk for the remainder of the vesting period.

 

Following his appointment as CEO, Mr Kirk is required to develop and sustain a
shareholding in the Company worth 200% of salary in line with our approved
Remuneration Policy.  The Remuneration Committee has agreed that Mr Kirk will
be required to retain at least half of any shares that vest under historic
incentive plans that were awarded and relate to performance prior to his
appointment as CEO (after allowing for share sales to settle income tax and
social security liabilities that arise).

 

 

Kaye Maguire

General Counsel & Company Secretary

Tel: 020 3077 8069

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Nicholas Kirk

 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                                                         PageGroup plc

 b)   LEI                                                          213800JK5ZEQW4AB8G71

 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  1p ordinary shares each in PageGroup plc

      Identification code

                                                                   ISIN: GB0030232317

 b)   Nature of the transaction                                    Transfer of unvested shares in respect of the 2020 award under the PageGroup

                                                            Management Incentive Plan to the trustee of the Michael Page Employees'
                                                                   Benefit Trust

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   nil       19,089

 

 d)   Aggregated information

                                                                   19,089

      - Aggregated volume                                          nil

      - Price

 e)   Date of the transaction                                      2023-03-13

 f)   Place of the transaction                                     Outside 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  1p ordinary shares each in PageGroup plc

      Identification code

                                                                   ISIN: GB0030232317

 b)   Nature of the transaction                                    Sale of shares following the vesting of an award under the PageGroup

                                                            Management Incentive Plan

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   £4.437    17,989

 d)   Aggregated information

                                                                   17,989

      - Aggregated volume                                          £4.437

      - Price

 e)   Date of the transaction                                      2023-03-13

 f)   Place of the transaction                                     London Stock Exchange, Main Market (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  1p ordinary shares each in PageGroup plc

      Identification code

                                                                   ISIN: GB0030232317

 b)   Nature of the transaction                                    Transfer of unvested shares in respect of the 2022 award under the PageGroup

                                                            Management Incentive Plan to the trustee of the Michael Page Employees'
                                                                   Benefit Trust

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   nil       16,826

 

 d)   Aggregated information

                                                                   16,826

      - Aggregated volume                                          nil

      - Price

 e)   Date of the transaction                                      2023-03-13

 f)   Place of the transaction                                     Outside a trading venue

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

19,089

nil

 

e)

 

Date of the transaction

 

 

2023-03-13

f)

 

Place of the transaction

 

 

Outside 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

 

 

1p ordinary shares each in PageGroup plc

 

 

ISIN: GB0030232317

b)

 

Nature of the transaction

 

Sale of shares following the vesting of an award under the PageGroup
Management Incentive Plan

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

 Price(s)  Volume(s)

 £4.437    17,989

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

17,989

£4.437

e)

 

Date of the transaction

 

 

2023-03-13

f)

 

Place of the transaction

 

 

London Stock Exchange, Main Market (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

 

 

1p ordinary shares each in PageGroup plc

 

 

ISIN: GB0030232317

b)

 

Nature of the transaction

 

Transfer of unvested shares in respect of the 2022 award under the PageGroup
Management Incentive Plan to the trustee of the Michael Page Employees'
Benefit Trust

 

c)

 

Price(s) and volume(s)

 

 

 Price(s)  Volume(s)

 nil       16,826

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

16,826

nil

 

e)

 

Date of the transaction

 

 

2023-03-13

f)

 

Place of the transaction

 

 

Outside a trading venue

 

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