REG - Smith & Nephew Plc - Director Share Award vest and sale to cover tax

Smith & NephewAnnouncement

06/12/2024 07:00

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RNS Number : 0340P  Smith & Nephew Plc  06 December 2024

 

SMITH & NEPHEW PLC

 

6 December 2024

 

NOTIFICATION AND PUBLIC DISCLOSURE IN ACCORDANCE WITH THE REQUIREMENTS OF THE
EU MARKET ABUSE REGULATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.

 

On 5 December 2024, the following awards of US$0.20 ordinary shares (the
"Shares") in Smith & Nephew plc (the "Company") vested under an award
agreement to Deepak Nath.

 

VESTING OF A PERFORMANCE AWARD AND RESTRICTED SHARE AWARDS GRANTED UNDER THE
AWARD AGREEMENT DATED 29 APRIL 2022

 

As set out in the announcement published on 3 May 2022, a Performance Award
over 97,360 shares was granted to Deepak Nath with an expected vest date of
12 November 2024. The vest of this award was subject to the performance
conditions applicable to the performance stock award over Siemens Healthineers
AG ("SH") shares originally granted to Mr Nath by SH on 13 November 2020.

 

In accordance with the terms of the award agreement, the expected vest date of
12 November 2024 was delayed so that the applicable performance criteria
attaching to the Performance Award could be measured against the financial
results of SH which were announced on 6 November 2024. It has been determined
that, following completion of the performance measurement period, 77.29% of
the award vests. 75,254 shares were therefore available for vest with the
remaining balance of shares, 22,106, lapsing with immediate effect.

 

Also as set out in the announcement published on 3 May 2022, Restricted Share
Awards over 3,015 shares with an expected vesting date of 8 November 2024 and
4,788 shares with an expected vesting date of 13 November 2024 were granted.
The vesting of these awards was delayed to coincide with the vesting of the
Performance Share Award described above. Accordingly, awards over a total of
83,057 shares have vested on 5 December 2024.

 

 Reason for the notification
 Initial notification /Amendment                              Initial notification
 Details of the issuer, emission allowance market participant, auction
 platform, auctioneer or auction monitor
 Name                                                         Smith & Nephew plc
 LEI                                                          213800ZTMDN8S67S1H61
 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
 Description of the financial instrument, type of instrument  Smith & Nephew plc ordinary shares of USD 0.20 each

 Identification code                                          ISIN: GB0009223206
 Nature of the transaction                                    Vest of a Performance Award and Restricted Share Awards granted on 29 April
                                                              2022 under the award agreement.
 Date of Transaction                                          2024 - 12 - 5
 Place of Transaction                                         London Stock Exchange (XLON)

 

 Name                                  Price (£)   Volume                                                                          Aggregated information

 (Position)                  Status
 Deepak Nath                 Director  9.812       83,057 (of which 34,033 shares were sold to cover taxes due and 49,024 shares   N/A Single Transaction

                                                 were retained)
 (Chief Executive Officer)

 

 

 

 

 

Helen Barraclough

General Counsel & Company Secretary

Smith & Nephew plc

Tel:  +44 (0)1923 477410

 

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