REG - QinetiQ Group plc - Director/PDMR Shareholding

QinetiqAnnouncement

21/06/2023 12:15

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RNS Number : 4741D  QinetiQ Group plc  21 June 2023

 

QinetiQ Group plc (the "Company")

QinetiQ Group plc LEI: 213800S8OBDOZMCMUW34

QinetiQ Group plc announces that, on 20 June 2023, awards over Ordinary Shares
of 1 pence each in the Company ("Ordinary Shares") were granted to Directors
of the Company as set out below (the "DSP Awards").

 Name         Status  No. of Shares Subject to Award
 Steve Wadey  CEO     251,444
 Carol Borg   CFO     163,256
 TOTAL                414,700

The DSP Awards were granted under the terms of the Deferred Share Plan
(Element B of the 2017 QinetiQ Group plc Incentive Plan) in respect of the
year ended 31 March 2023 (FY23).

The DSP Awards, which are made annually at this time where performance leads
to an award, were calculated on the basis of FY23 audited performance (as
announced in the Company's Preliminary Results for FY23 on 25(th) May 2023).
As set out on page 150 of the Company's annual report and accounts for FY23,
the calculations were made on the basis of the Director's salary levels and
the Company's achievement in FY23 against revenue growth and margin
maintenance targets, using the Company's average share price for March 2023
(330.2p) as the underlying basis for calculating the number of Ordinary Shares
to be awarded.

The Ordinary Shares will vest on the third anniversary of grant subject to
continued employment and are subject to a performance underpin before vesting:

·    Group underlying profit outturn for FY23 must be maintained at the
end of the three-year vesting period. If this is not maintained then, at a
minimum, 50% of the award will lapse. For the purposes of the FY23 DSP award,
this will be the actual underlying operating profit (£169.5m) for FY23 which
must be achieved in FY26.

Any vested shares must be retained by the Director for a further two years.

No consideration was paid for the grant of these awards and no payment is due
on the release of any shares.

The Notification of Dealing Forms can be found below.  This announcement is
made in accordance with the UK Market Abuse Regulation (Regulation (EU)
596/2014, as it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018).

 

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities or persons closely associated with them

 1.    Details of PDMR / person closely associated with them ("PCA")
 (a)   Name                                      Steve Wadey
 2.    Reason for the notification
 (a)   Position / status                         Chief Executive Officer / Director
 (b)   Initial notification / amendment          Initial notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 (a)   Name                                      QinetiQ Group plc
 (b)   Legal Entity Identifier Code              213800S8OBDOZMCMUW34
 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   QinetiQ Group plc ordinary shares of 1 pence

       Identification code

                                                 GB00B0WMWD03

 (b)   Nature of the transaction                 Conditional award of shares under the 2017 QinetiQ Group plc Deferred Share
                                                 Plan, subject to a performance underpin over a three year period. The expected
                                                 vesting date is 14 June 2025.
 (c)   Price(s) and volume(s)                    Price(s)                                  Volume(s)
       NIL                                                                                 251,444

 (d)   Aggregated information                    N/A

       -     Price

       -     Volume

       -     Total

 (e)   Date of the transaction                   2023-06-20
 (f)   Place of the transaction                  Outside of trading venue

 

 

 1.    Details of PDMR / person closely associated with them ("PCA")
 (a)   Name                                      Carol Borg
 2.    Reason for the notification
 (a)   Position / status                         Chief Financial Officer / Director
 (b)   Initial notification / amendment          Initial notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 (a)   Name                                      QinetiQ Group plc
 (b)   Legal Entity Identifier Code              213800S8OBDOZMCMUW34
 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   QinetiQ Group plc ordinary shares of 1 pence

       Identification code

                                                 GB00B0WMWD03

 (b)   Nature of the transaction                 Conditional award of shares under the 2017 QinetiQ Group plc Deferred Share
                                                 Plan, subject to a performance underpin over a three year period. The expected
                                                 vesting date is 14 June 2025.
 (c)   Price(s) and volume(s)                    Price(s)                                  Volume(s)
       NIL                                                                                 163,256

 (d)   Aggregated information                    N/A

       -     Price

       -     Volume

       -     Total

 (e)   Date of the transaction                   2023-06-20
 (f)   Place of the transaction                  Outside of trading venue

 

 

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