REG - Polar Capital Hldgs - Director/PDMR Shareholding
22/07/2024 17:00
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RNS Number : 3498X Polar Capital Holdings PLC 22 July 2024
22 July 2024
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial
Responsibilities (PDMRs)
Grant of 2024 Long Term Incentive Plan Awards (LTIP)
Polar Capital announces the grant of conditional share awards over ordinary
shares of 2.5 pence each in Polar Capital Holdings PLC ("Awards") on 16 July
2024 to the following Directors and PDMRs of the Company in accordance with
the rules of the 2016 Executive Incentive Plan.
Director / PDMR Position No. of shares under Award
Gavin Rochussen Chief Executive Officer 167,399
Samir Ayub Chief Financial Officer 86,993
Alexander Black Chief Investment Officer 95,693
Iain Evans Global Head of Distribution 95,693
Nicholas Farren Chief Operating Officer 83,530
The terms of the LTIP award provide for vesting on the third anniversary of
grant, subject to continued employment and performance based on the following
measures:
- 35% of each Award is subject to a performance condition requiring
the Company's adjusted diluted total earnings per share to achieve a pre-set
level for the financial year 2026/27 which is the end of three financial years
commencing on 1 April 2024 (the 'Performance Period').
- 35% of each Award is subject to a performance condition relating
to the performance of the Company's total shareholder return relative to the
constituents of the FTSE 250 Index (excluding investment trusts) during the
performance period.
- 10% of each Award is subject to a performance condition measured
by reference to the cumulative net inflows to Polar Group funds from two key
geographic locations during the performance period.
- 20% of each Award is subject to a performance condition measured by
reference to strategic progress towards enhancing the investment proposition
for the Company's investors during the performance period. This will comprise
a combination of qualitative and quantitative assessment of progress made
towards expanding the investment team and product offering in key geographic
areas (10%) and towards the Group's people development and retention offering
(10%).
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gavin Rochussen
2 Reason for Notification
a) Position/status Chief Executive Officer
b) Initial notification/Amendment Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
Identification code GB00B1GCLT25
b) Nature of the transaction Grant of an award under the Company's 2016 Executive Incentive Plan as a
conditional award. Awards may vest after 3 years subject to performance and
continued service. Any vested shares will normally be subject to a holding
period ending on the fifth anniversary of grant.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 167,399
d) Aggregated information Not applicable - single transaction
- Aggregated volume
- Price
e) Date of the transaction 16 July 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
16 July 2024
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 Notification
a) Position/status Chief Financial Officer
b) Initial notification/Amendment Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
Identification code GB00B1GCLT25
b) Nature of the transaction Grant of an award under the Company's 2016 Executive Incentive Plan as a
conditional award. Awards may vest after 3 years subject to performance and
continued service. Any vested shares will normally be subject to a holding
period ending on the fifth anniversary of grant.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 86,993
d) Aggregated information Not applicable - single transaction
- Aggregated volume
- Price
e) Date of the transaction 16 July 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
16 July 2024
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 Notification
a) Position/status Chief Investment Officer
b) Initial notification/Amendment Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
Identification code GB00B1GCLT25
b) Nature of the transaction Grant of an award under the Company's 2016 Executive Incentive Plan as a
conditional award. Awards may vest after 3 years subject to performance and
continued service. Any vested shares will normally be subject to a holding
period ending on the fifth anniversary of grant.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 95,693
d) Aggregated information Not applicable - single transaction
- Aggregated volume
- Price
e) Date of the transaction 16 July 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
16 July 2024
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 Notification
a) Position/status Global Head of Distribution
b) Initial notification/Amendment Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
Identification code GB00B1GCLT25
b) Nature of the transaction Grant of an award under the Company's 2016 Executive Incentive Plan as a
conditional award. Awards may vest after 3 years subject to performance and
continued service. Any vested shares will normally be subject to a holding
period ending on the fifth anniversary of grant.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 95,693
d) Aggregated information Not applicable - single transaction
- Aggregated volume
- Price
e) Date of the transaction 16 July 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
16 July 2024
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 Notification
a) Position/status Chief Operating Officer
b) Initial notification/Amendment Initial Announcement
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 2.5 pence each in Polar Capital Holdings PLC
Identification code GB00B1GCLT25
b) Nature of the transaction Grant of an award under the Company's 2016 Executive Incentive Plan as a
conditional award. Awards may vest after 3 years subject to performance and
continued service. Any vested shares will normally be subject to a holding
period ending on the fifth anniversary of grant.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 83,530
d) Aggregated information Not applicable - single transaction
- Aggregated volume
- Price
e) Date of the transaction 16 July 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
16 July 2024
f)
Place of the transaction
Outside a trading venue
Enquiries:
Polar Capital
+44 (0)20 7227 2700
Gavin Rochussen (Chief Executive Officer)
Samir Ayub (Chief Financial Officer)
Deutsche Numis - Nomad and Joint Broker +44
(0)20 7260 1000
Giles Rolls (QE)
Charles Farquhar
Peel Hunt LLP - Joint Broker
+44 (0)20 3597 8680
Andrew Buchanan
Sam Milford
Camarco
+44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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