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REG - Savills PLC - Director/PDMR Shareholding

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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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