REG - Smith & Nephew Plc - Director/PDMR Shareholding

Smith & NephewAnnouncement

03/05/2022 09:15

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RNS Number : 0809K  Smith & Nephew Plc  03 May 2022

SMITH & NEPHEW PLC

 

3 May 2022

 

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

 

On 29 April 2022, the following awards of US$0.20 ordinary shares (the
"Shares") in Smith & Nephew plc (the "Company") were granted under an
award agreement to Deepak Nath. The awards have been made in London and are
based on the closing Share price on the London Stock Exchange on 28 April 2022
of £13.12.

 

1.       BUY-OUT AWARDS GRANTED UNDER AN AWARD AGREEMENT

 

As announced on 22 February 2022, Deepak Nath's buy-out awards are in respect
of outstanding incentives he forfeited upon leaving his former company. All
awards have been provided on a like-for-like basis in terms of the value
provided and their performance and/or vesting periods. There has been no
acceleration of any of the below awards which remain subject to continued
employment, and none of the performance-based awards have been replaced with a
non-performance based award.

 

i.    The Performance Awards granted are as follows: -

 

a)   a Conditional Award over 127,461 Shares with a vesting date of 9
November 2022.  The vesting of this award is subject to the performance
conditions applicable to the performance stock award over Siemens Healthineers
AG ("SH") shares granted to the director by SH on 9 November 2018;

 

b)   a Conditional Award over 84,868 Shares with a vesting date of 8
November 2023.  The vesting of this award is subject to the performance
conditions applicable to the performance stock award over SH shares granted to
the director by SH on 8 November 2019;

 

c)   a Conditional Award over 97,360 Shares with a vesting date of 12
November 2024.  The vesting of this award is subject to the performance
conditions applicable to the performance stock award over SH shares granted to
the director by SH on 13 November 2020;

 

The total number of the above shares to be granted under the Performance
Awards is 309,689 Shares.

 

ii.    The Restricted Stock Unit ("RSU") Awards granted are as follows: -

 

a)   a Conditional Award over 8,716 Shares with half of this amount vesting
date on 8 November 2022 and the remaining half vesting on 8 November 2023;

 

b)   a Conditional Award over 14,364 Shares with a third of this amount
vesting on 13 November 2022, a further third on 13 November 2023 and the final
third on 13 November 2024;

 

c)   a Conditional Award over 12,061 Shares with a quarter of this amount
vesting on 8 November 2022, the second quarter vesting on 8 November 2023, the
third quarter vesting on 8 November 2024 and the final quarter vesting on 8
November 2025;

 

The total number of shares to be granted under the above RSU Awards is 35,141
Shares.

 

iii.   The Incentive Awards granted are as follows: -

 

a)   a Conditional Award over 26,529 Shares with a vesting date of 15 May
2022;

 

b)   a Conditional Award over 70,378 Shares with a vesting date of 23 May
2022;

 

The total number of shares to be granted under thee above Incentive Awards is
96,907 Shares.

 

The following notification summarises the awards made:

 

 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                                    Buy-out awards granted on 29 April 2022 under an award agreement.
 Date of Transaction                                          2022 - 04 - 29
 Place of Transaction                                         Grants took place outside a trading venue

 

 Name (Position)             Director / PDMR  Award Classification  Price (£)   Total    Aggregated information

                                                                                Volume
 Deepak Nath                 Director         Performance Awards    13.12       309,689  N/A Single Transaction

 (Chief Executive Officer)
 Deepak Nath                 Director         RSU Awards            13.12       35,141   N/A Single Transaction

 (Chief Executive Officer)
 Deepak Nath                 Director         Incentive Awards      13.12       96,907   N/A Single Transaction

 (Chief Executive Officer)

 

Sarah Carne

Deputy Company Secretary

Smith & Nephew plc

 

Tel:  +44 (0)1923 477100

 

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