REG - Savills PLC - Director/PDMR Shareholding
21/04/2022 17:00
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RNS Number : 9639I Savills PLC 21 April 2022
SAVILLS PLC (THE "COMPANY")
TRANSACTION IN SHARES BY DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMRS)
Vesting of Share Awards
Awards over ordinary shares of the Company under the Company's Deferred Share
Plans have become unconditional in all respects following the end of their
Deferred Period. In satisfaction of the Awards, the Trustees of the Group's
Employee Benefit Trusts effected the transfer of shares, following the
settlement of associated tax liabilities through the sale of shares, to
Directors and PDMRs of the Company as follows:-
Director/ PDMR Number of Shares Transferred Number of Shares Disposed Shareholding following this notification Shareholding as a % of issued share capital
Mark Ridley (Director) 41,688 20,155 231,854 0.16%
Simon Shaw (Director) 62,189 62,189 182,579 0.13%
Chris Lee (PDMR) 13,285 6,423 119,000 0.08%
David Lipson (PDMR) 23,132 11,593 65,661 0.05%
Christian Mancini (PDMR) 10,445 - 147,685 0.10%
Mitchell Rudin (PDMR) 60,618 30,644 89,388 0.06%
James Sparrow (PDMR) 30,707 14,847 72,160 0.05%
The share price on disposal of all shares was £10.803843 per share.
Grant of Share Awards
The Company announces that on 20 April 2022 the grant of the share based
element of 2021 profit share awards has been made under the Savills Deferred
Share Bonus Plan to Directors and PDMRs as follows:-
Director/ PDMR Number of shares subject to the Savills Deferred Share Bonus Plan awarded to
the Director/ PDMR on 20 April 2022
Mark Ridley (Director) 90,045
Simon Shaw (Director) 67,328
Alex Jeffrey (PDMR) 99,473
Chris Lee (PDMR) 37,442
Raymond Lee (PDMR) 64,159
Christian Mancini (PDMR) 16,621
Mitchell Rudin (PDMR) 19,945
James Sparrow (PDMR) 36,529
The Company announces that on 20 April 2022 the grant of an award has been
made under the Savills Deferred Share Plan to a PDMR as follows:-
PDMR Number of shares subject to the Savills Deferred Share Plan awarded to the
PDMR on 20 April 2022
Alex Jeffrey 45,662
Vesting on a sliding scale is dependent upon the satisfaction of performance
criteria relating to the financial performance of Savills Investment
Management, including the performance of funds managed by Savills Investment
Management, over the period 2022 to 2024.
All the above awards have a Deferred Period of three years and are subject to
rolled-up dividend shares whereby the number of shares awarded will be
increased on the vesting date to reflect final and interim dividends declared
during the Deferred Period.
The Company announces that on 20 April 2022 the grant of share awards under
The Schedule to The Savills Deferred Share Plan to PDMRs based in the United
States of America as follows:-
PDMR Number of shares subject to the Savills Deferred Share Plan awarded to the
PDMR on 20 April 2022
David Lipson (PDMR) 66,485
Mitchell Rudin (PDMR) 66,485
20% of Mr Lipson's award will vest on each of the five anniversaries
subsequent to the date of grant subject to continued employment. 50% of Mr
Rudin's award will vest from 31 December 2022 and 50% from 31 December 2023
subject to continued employment and performance. Both awards are subject to
rolled-up dividend shares whereby the number of shares awarded will be
increased on the vesting dates to reflect final and interim dividends declared
during the Deferred Periods.
Resulting beneficial interests under the Savills Deferred Share Bonus Plan and
Savills Deferred Share Plan further to the above notifications are as follows:
Director/ PDMR Resulting beneficial interest under the Savills Deferred Share Bonus Plan and
Savills Deferred Share Plan
Mark Ridley (Director) 199,417
Simon Shaw (Director) 148,896
Alex Jeffrey (PDMR) 347,459
Chris Lee (PDMR) 61,844
Raymond Lee (PDMR) 98,142
David Lipson (PDMR) 101,170
Christian Mancini (PDMR) 119,371
Mitchell Rudin (PDMR) 110,782
James Sparrow (PDMR) 91,620
The Company announces that on 20 April 2022 awards have been made under The
Savills plc Performance Share Plan (the "Performance Share Plan") to Directors
and PDMRs of the Company as follows:
Director / PDMR Number of Shares subject to the Performance Share Plan awarded to the Director Total number of shares subject to the Performance Share Plan following this
/ PDMR on 20 April 2022 notification
Mark Ridley (Director) 56,803 266,276
Simon Shaw (Director) 43,397 211,999
Chris Lee (PDMR) 22,006 102,780
The Performance Share Plan provides for the award of nil cost options or
conditional awards of ordinary shares in the Company.
Awards of shares are made subject to a three-year performance period. Awards
which satisfy the applicable performance criteria (as below) in the three-year
performance period will then vest after an additional two-year holding period.
Awards vest subject to the satisfaction of the following performance criteria
measured over the three years to 31 December 2024:
(a) one-third of the initial value of an award is subject to the Company's
Total Shareholder Return ('TSR') performance measured against the TSR of the
FTSE Mid 250 Index (excluding investment trusts);
(b) a further one-third of the initial value of an award is subject to Group
Earnings per Share ('EPS') performance; and
(c) the final one-third of the initial value of an award is subject to the
three year average Return on Capital Employed ('ROCE') of the Company.
Awards vest as follows:
(a) for the TSR linked part of an award, 25% (i.e. threshold) will vest if the
Company's TSR matches Index performance, rising to 100% (i.e. maximum) if the
Company's TSR outperforms the Index by 8% p.a., compound with sliding scale
vesting between the two points;
(b) for the EPS growth linked part of an award, 25% (i.e. threshold) will vest
if the Company's EPS growth is 6% p.a., compound rising to 100% (i.e. maximum)
if the Company's EPS growth is 12% p.a., compound with sliding scale vesting
between the two points; and
(c) for the ROCE linked part of an award, 25% (i.e. threshold) will vest if
the Company's ROCE is 15% p.a., rising to 100% (i.e. maximum) if the Company's
ROCE is 25% p.a. or more; and with straight-line vesting between the two
points.
The information set out below is provided in accordance with the requirements
of Article 19 of the EU Market Abuse Regulation No 596/2014.
1. Details of the Director/ PDMR
(a) Name 1. Mark Ridley
2. Simon Shaw
3. Alex Jeffrey
4. Chris Lee
5. Raymond Lee
6. David Lipson
7. Christian Mancini
8. Mitchell Rudin
9. James Sparrow
2. Reason for the notification
(a) Position/ status 1. Group Chief Executive/ Director
2. Group Chief Financial Officer/ Director
3. Chief Executive Officer - Savills Investment Management/ PDMR
4. Group Legal Director and Company Secretary/ PDMR
5. Chief Executive - Hong Kong, Macau and Greater China/ PDMR
6. President - Savills North America/ PDMR
7. Chief Executive Officer Asia Pacific (ex-Greater China)/ PDMR
8. President, Savills North America/ PDMR
9. CEO, Savills UK & EMEA/ PDMR
(b) Initial notification/ Amendment Initial notification
3. Details of the issuer
(a) Name Savills plc
(b) LEI 213800WXICGMBWHTA933
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 Savills plc Ordinary Shares of 2.5p each
(b) Identification code of the Financial Instrument GB00B135BJ46
(c) Nature of the transaction 1) Vesting of awards under the Company's Deferred Share Plans and sale
of resultant shares
2) Grant of awards over Ordinary Shares in accordance with the Company's
Deferred Share Bonus Plan and Deferred Share Plan
3) Grant of awards over Ordinary Shares in accordance with the Company's
Performance Share Plan
(d) Price(s) and volume(s) Price(s) Volume(s)
1) 1. 41,688
Acquisition 2. 62,189
£nil per share 3. n/a
4. 13,285
5. n/a
6. 23,132
7. 10,445
8. 60,618
9. 30,707
Disposal 1. 20,155
£10.803843 per share 2. 62,189
3. n/a
4. 6,423
5. n/a
6. 11,593
7. n/a
8. 30,644
9. 14,847
2) 1. 90,045
£nil per share 2. 67,328
3. 145,135
4. 37,442
5. 64,159
6. 66,485
7. 16,621
8. 86,430
9. 36,529
3) 1. 56,803
£nil per share 2. 43,397
3. n/a
4. 22,006
5. n/a
6. n/a
7. n/a
8. n/a
9. n/a
(e) Aggregated information N/A
- Aggregated volume
- Price
(f) Date of the transaction 20 April 2022
(g) Place of the transaction Outside a trading venue
Name of contact and telephone number for queries:
Chris Lee
Group Legal Director & Company Secretary
020 3107 5444
21 April 2022
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