REG - Polar Capital Hldgs - Director/PDMR Shareholding
13/07/2023 10:45
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RNS Number : 9417F Polar Capital Holdings PLC 13 July 2023
13 July 2022
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial
Responsibilities (PDMRs)
Long Term Incentive Plan Awards - Performance Conditions
On 10 July 2020 Gavin Rochussen, Alexander Black and Iain Evans were granted
awards under the Long Term Incentive Plan ("LTIP"), as part of the Company's
Equity Incentive Plan. Details of the original grant are contained in RNS No.
7115S.
The terms of the LTIP award provide for vesting on the third anniversary of
grant. The vesting of the awards was subject to continued employment and
performance targets. Upon vesting the shares would be released in equal
tranches on the third, fourth and fifth anniversaries of grant. The third
anniversary of this award was on 10 July 2023.
The performance targets have been considered by the Remuneration Committee,
and it was determined that a 62% vesting of the 2020 LTIP Award should be
made. Full details of the performance targets of the Award are available in
the Remuneration Committee Report of the 2023 Annual Report and Accounts.
Long Term Incentive Plan Awards - No Performance Conditions
On 10 July 2020, Samir Ayub and Nicholas Farren were granted conditional
awards as part of the Long Term Incentive Plan ("LTIP"), as part of the
Company's Equity Incentive Plan, details of which are contained in RNS No.
7117S.
The terms of the LTIP award provide for vesting on the third anniversary of
grant. The vesting of the awards was subject to continued employment. Upon
vesting the shares would be released in equal tranches on the third, fourth
and fifth anniversaries of grant. The third anniversary of this award was
also on 10 July 2023.
On the vesting date there will be a sale of sufficient shares to cover tax
liabilities and the remaining shares will be retained under the holding
period. These awards have been satisfied by the release of shares from the
Employee Benefit Trust to the participants, who have established nominee
accounts with the EBT for the retention of the shares during the holding
period.
The following table provides details of the vesting and release schedule of
the awards:
Name Title Vesting 2020 LTIP Shares sold to cover Tax & NIC Shares released on 10 July 2023 Shares released on 10 July 2024 Shares released on 10 July 2025
(1(st) Release Date) (2(nd) Release Date) (3(rd) Release Date)
Gavin Rochussen Chief Executive Officer 131,155 71,598 19,852 19,852 19,853
Samir Ayub Finance Director 24,566 13,411 3,718 3,718 3,719
Alexander Black Chief Investment Officer 65,557 35,788 9,923 9,923 9,923
Iain Evans Global Head of Distribution 65,557 35,788 9,923 9,923 9,923
Nicholas Farren Chief Operating Officer 24,566 13,411 3,718 3,718 3,719
Details of the vesting and sale of shares for each PDMR is provided below:
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gavin Rochussen
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 Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on the vesting of the
2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 131,155
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 10-07-2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gavin Rochussen
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 Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of the 2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
455.5623p 71,598
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Samir Ayub
2 Reason for the notification
a) Position/status Finance Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on the vesting of the
2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 24,566
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 10-07-2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Samir Ayub
2 Reason for the notification
a) Position/status Finance Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of the 2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
455.5623p 13,411
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alexander Black
2 Reason for the notification
a) Position/status Chief Investment Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on the vesting of the
2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 65,557
e) Date of the transaction 10-07-2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alexander Black
2 Reason for the notification
a) Position/status Chief Investment Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of the 2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
455.5623p 35,788
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Iain Evans
2 Reason for the notification
a) Position/status Global Head of Distribution
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on the vesting of the
2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 65,557
e) Date of the transaction 10-07-2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Iain Evans
2 Reason for the notification
a) Position/status Global Head of Distribution
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of the 2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
455.5623p 35,788
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nicholas Farren
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 Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Acquisition of an interest in the shares of the Company on the vesting of the
2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 24,566
e) Date of the transaction 10-07-2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nicholas Farren
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 Polar Capital Holdings plc
b) LEI 549300OXX7YE1947B825
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 2.5p each
Identification code GB00B1GCLT25
b) Nature of the transaction Sale of shares of the Company on vesting of the 2020 LTIP Award
c) Price(s) and volume(s)
Price(s) Volume(s)
455.5623p 13,411
d) Aggregated information Single transaction as in 4 c) above
e) Date of the transaction 12-07-2023
f) Place of the transaction London Stock Exchange, AIM
Enquiries:
Polar
Capital +44
(0)20 7227 2700
Gavin Rochussen (Chief Executive)
Samir Ayub (Finance Director)
Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000
Giles Rolls
Charles Farquhar
Stephen Westgate
Peel Hunt LLP - Joint
Broker
+44 (0)20 3597 8680
Andrew Buchanan
Camarco
+44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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