REG - Serco Group PLC - Director/PDMR Shareholding

SercoAnnouncement

09/10/2020 16:25

RNS Number : 6921B
  
Serco Group PLC
  
09 October 2020
  
 

 
9 October 2020
Serco Group plc (the 'Company') 
Legal Entity Identifier: 549300PT2CIHYN5GWJ21


 
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF 2p EACH IN THE COMPANY ('Ordinary Shares')
 
On 6 October 2020, the Company granted conditional share awards ('Performance Awards') to the following PDMRs under the Serco Group plc 2019 Long-Term Incentive Plan ('LTIP'):    
 



PDMR


Number of Shares subject to the Performance Award




Rupert Soames, 
Group Chief Executive


1,326,673 




Angus Cockburn, 
Group Chief Financial Officer


 713,916




David Dacquino, 
CEO Americas


 433,427




David Eveleigh, 
Group General Counsel & Company Secretary


 259,462




Mark Irwin, 
CEO UK & Europe


 347,276




Anthony Kirby, 
Group Chief Operating Officer


 312,158




Philip Malem, 
CEO Middle East


 253,764




Kate Steadman, 
Group Strategy & Communications Director


 146,576




Peter Welling
CEO AsPac


 237,632



 
The Performance Awards have a normal vesting date of 6 April 2023 and vesting is conditional on continued employment and the satisfaction of five independent performance measures as follows:
 



Performance
Measure


Weighting
 


Performance Target




EPS


28.33%


Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 20.62p (threshold, 25% vesting) to 25.2p (maximum, 100% vesting), measured as an aggregate over the three-year performance period ending 31 December 2022.




TSR


28.33%


Total Shareholder Return (TSR) of median (threshold, 25% vesting) to upper quartile (maximum, 100% vesting) when ranked relative to companies in the FTSE250 (excluding investment trusts), measured over the three-year performance period ending 31 December 2022.




ROIC


28.33%


Pre-tax Return on Invested Capital (ROIC) of 16.4% (threshold, 25% vesting) to 20.0% (maximum, 100% vesting), measured as an average over the three-year performance period ending 31 December 2022.




Strategic objective - Order Book


7.50%


Book-to-bill ratio of 100% (target, 50% vesting) to 105% (maximum, 100% vesting) measured on a cumulative basis over the three-year performance period ending 31 December 2022.




Strategic objective - Employee Engagement


7.50%


For  the year ending 31 December 2022, achieve an engagement score of 67 points (target, 50% vesting) to 72 points (maximum, 100% vesting) in our annual employee engagement survey.



 
The Remuneration Committee retains discretion to change performance measures and targets, and the weightings attached to performance measures part-way through the performance period if there is a significant event, such as a major transaction.
 
For Executive Directors, any shares that vest will be subject to a post-vesting holding requirement that takes the total term of the award to a minimum of five years. Post-vesting clawback also applies to the Executive Directors awards. Awards to all participants are subject to pre-vesting malus.
 
This announcement is made in accordance with the requirements of the EU Market Abuse Regulation 596/2014.  The notification of dealing forms can be found below. 
 
 
Transaction notification
 
 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


Rupert Soames




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


Group Chief Executive




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


1,326,673






























d) 
 


Aggregated information 


















- Aggregated volume


1,326,673














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


Angus Cockburn




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


Group Chief Financial Officer




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


713,916






























d) 
 


Aggregated information 


















- Aggregated volume


713,916














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


David Dacquino




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


CEO Americas




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


433,427






























d) 
 


Aggregated information 


















- Aggregated volume


433,427














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


David Eveleigh




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


Group General Counsel & Company Secretary




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


259,462






























d) 
 


Aggregated information 


















- Aggregated volume


259,462














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


Mark Irwin




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


CEO UK & Europe




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


347,276






























d) 
 


Aggregated information 


















- Aggregated volume


347,276














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 
 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


Anthony Kirby




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


Group 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 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


312,158






























d) 
 


Aggregated information 


















- Aggregated volume


312,158














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


Philip Malem




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


CEO Middle East




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


253,764






























d) 
 


Aggregated information 


















- Aggregated volume


253,764














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


Kate Steadman




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


Group Strategy & Communications Director




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


146,576






























d) 
 


Aggregated information 


















- Aggregated volume


146,576














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 


Peter Welling




2 
 


Reason for the notification 
 




a) 
 


Position/status 
 
 


CEO AsPac




b) 
 


Initial notification /Amendment 
 
 


Initial notification




3 
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
 




a) 
 


Name 
 
 


Serco Group plc




b) 
 


LEI 
 
 


549300PT2CIHYN5GWJ21




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 pence each ("Ordinary Shares")
 














Identification code 


ISIN: GB0007973794














b) 
 


Nature of the transaction 
 
 


The grant of conditional share awards on 6 October 2020 under the Serco Group plc 2019 Long-Term Incentive Plan.




c) 
 


Price(s) and volume(s) 




























Price(s)


Volume(s)
















n/a


237,632






























d) 
 


Aggregated information 


















- Aggregated volume


237,632














- Price


n/a














e) 
 


Date of the transaction 
 


6 October 2020




f) 
 


Place of the transaction 


n/a



 

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