Paragon Banking Grp - Director/PDMR Shareholding
13/12/2024 15:19
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RNS Number : 0974Q Paragon Banking Group PLC 13 December 2024
13 December 2024
Paragon Banking Group PLC
Director Shareholding
On 13 December 2024, Paragon Banking Group PLC (the "Company") granted awards
over the Company's Ordinary Shares of £1.00 each to the following directors
under the Paragon Performance Share Plan 2023 ("PPSP") and under the Paragon
Deferred Share Bonus Plan 2023 ("PDSBP") in respect of bonuses for the year
ended 30 September 2024.
Director Role Number of shares awarded under PPSP Number of shares awarded under PDSBP
N S Terrington Chief Executive Officer 181,660 13,965
R J Woodman Chief Financial Officer 114,779 8,824
No consideration was paid for the grant of the awards, which have been
structured as nil-cost options.
The number of shares awarded under each tranche of the PPSP and DBSP is based
on a share price of £7.923, which is the average closing mid-market price of
the Company's shares on each of the five dealing days following the
announcement of the Company's results for the year ended 30 September 2024.
This share price is discounted to allow for the fact that no dividend
equivalents are payable in connection with this grant, in line with the
remuneration policy approved by shareholders in 2023. The adjusted price
used for the tranche that becomes exercisable on the third anniversary of the
grant is £6.825, with the prices of the tranches which become exercisable in
the four succeeding years being £6.494, £6.179, £5.879 and £5.594
respectively. This dividend adjustment was based on market estimates of the
expected dividend yield.
The PPSP awards will vest subject to the satisfaction of performance
conditions, which will be measured over the period of three financial years
ending on 30 September 2027. The awards, to the extent they vest, will
become exercisable in tranches from the third anniversary of the date of grant
until the seventh anniversary of the date of grant in accordance with
regulatory requirements.
The PDSBP awards will vest in tranches from the third anniversary of the date
of grant until the seventh anniversary of the date of grant in accordance with
regulatory requirements.
Both the PPSP and PDSBP awards will, ordinarily, remain exercisable until the
day before the tenth anniversary of the date of grant. All of the DSBP and
PSP awards vesting will be subject to a one year holding period post vesting
and will operate with all associated shareholder rights, with the exception of
the right to transfer or sell shares, which will only be permissible after a
year has lapsed from the date of the award, after which the shares can then be
transferred or sold.
Enquiries:
Carolyn Sharpe
Deputy Company Secretary, Tel: 07984 810427
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Nigel Stewart Terrington
2 Reason for the notification
a) Position/status Chief Executive Officer (PDMR)
b) Initial notification/ Amendment Initial notification
3 Details of the issuer
a) Name Paragon Banking Group PLC
b) LEI code 213800S1TDKIB1IUTS72
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 Ordinary shares of £1.00 each in Paragon Banking Group PLC
code
GB00B2NGPM57
Identification code
c) Nature of the transaction Grant of awards, in the form of nil-cost options, under the Paragon
Performance Share Plan ("PPSP").
d) Price(s) and volume(s) Price Volume
£0.00 181,660
e) Aggregated information N/A
- Aggregated volume
- Price
f) Date of the transaction 13 December 2024
g) Place of the transaction Outside a trading venue
e)
Aggregated information
- Aggregated volume
- Price
N/A
f)
Date of the transaction
13 December 2024
g)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Nigel Stewart Terrington
2 Reason for the notification
a) Position/status Chief Financial Officer (PDMR)
b) Initial notification/ Amendment Initial notification
3 Details of the issuer
a) Name Paragon Banking Group PLC
b) LEI code 213800S1TDKIB1IUTS72
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 Ordinary shares of £1.00 each in Paragon Banking Group PLC
code
GB00B2NGPM57
Identification code
b) Nature of the transaction Grant of awards, in the form of nil-cost options, under the Paragon Deferred
Share Bonus Plan ("PDSBP").
c) Price(s) and volume(s) Price Volume
£0.00 13,965
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 13 December 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
13 December 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Richard James Woodman
2 Reason for the notification
a) Position/status Chief Financial Officer (PDMR)
b) Initial notification/ Amendment Initial notification
3 Details of the issuer
a) Name Paragon Banking Group PLC
b) LEI code 213800S1TDKIB1IUTS72
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 Ordinary shares of £1.00 each in Paragon Banking Group PLC
code
GB00B2NGPM57
Identification code
b) Nature of the transaction Grant of awards, in the form of nil-cost options, under the Paragon
Performance Share Plan ("PPSP").
c) Price(s) and volume(s) Price Volume
£0.00 114,779
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 13 December 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
13 December 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Richard James Woodman
2 Reason for the notification
a) Position/status Chief Financial Officer (PDMR)
b) Initial notification/ Amendment Initial notification
3 Details of the issuer
a) Name Paragon Banking Group PLC
b) LEI code 213800S1TDKIB1IUTS72
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 Ordinary shares of £1.00 each in Paragon Banking Group PLC
code
GB00B2NGPM57
Identification code
b) Nature of the transaction Grant of awards, in the form of nil-cost options, under the Paragon Deferred
Share Bonus Plan ("PDSBP").
c) Price(s) and volume(s) Price Volume
£0.00 8,824
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 13 December 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
13 December 2024
f)
Place of the transaction
Outside a trading venue
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