REG - Softcat PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">SCTS.L</Origin>

SoftcatAnnouncement

30/11/2017 17:30

RNS Number : 0570Y
Softcat PLC
30 November 2017
Softcat plc (the "Company")
Notification of Transactions by
Persons Discharging Managerial Responsibilities
The following notification made under article 19.1 of the Market Abuse Regulation ("MAR") relates to awards of nil-cost options to persons discharging managerial responsibilities ("PDMR") on 28 November 2017 under the Softcat plc Long Term Incentive Plan ("LTIP").This announcement is made in accordance with Article 19.3 of MAR.
Softcat plc Long Term Incentive Plan
On 28 November 2017, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as outlined below. 
An award of nil-cost options to acquire 74,074 number of shares was made to Graham Charlton, a director and PDMR. The number of shares over which the nil-cost option was awarded has been calculated by reference to the closing middle market quotation of the ordinary shares derived from the Daily Official List on the dealing day preceding the date of grant (540.00 pence). The award will vest subject to the performance conditions outlined below. 
An award of nil-cost options to acquire 23,148 number of shares was also made to Colin Brown, a PDMR,on 28 November 2017 under the LTIP calculated by reference to the closing middle market quotation of the ordinary shares derived from the Daily Official List on the dealing day preceding the date of grant (540.00 pence). The award for Colin Brown will vest subject to continued employment with the Company for three years from the date of grant.
Performance Conditions and Vesting of Awards
These nil-cost options are subject to the rules of the LTIP and will vest depending on performance against Total Shareholder Return ("TSR") and Earnings per Share ("EPS") targets as measured over a three year performance period.
50% of the Award will be subject to the Company's relative TSR performance against the FTSE 250 (excluding real estate and investment trusts):
TSR performance% of Award vesting
Below median  Nil
At median  30%
Upper quartile or above   100%
50% of the Award will be subject to the Company's EPS for FY 2020:
EPS Growth % of Award vesting
Less than 23.7 pence Nil
23.7 pence  20%
26.9 pence or above100%
There will be straight line vesting between the points as outlined above.
The normal date of vesting for the nil-cost options outlined above will be 28 November 2020 and the last date for exercise will be 27 November 2027, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP. 
For further information on the LTIP, please refer to the Company's Annual Report and Accounts. 
1.
Details of PDMR / person closely associated with them ("PCA")
a)
Name
Graham Charlton
2.
Reason for the notification
a)
Position / status
CFO
b)
Initial notification / amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Softcat plc
b)
LEI
N/A
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
Identification Code
Ordinary Shares of 0.0005 each
ISIN: GB00BYZDVK82
b)
Nature of the transaction
Grant of nil cost option over Ordinary Shares of 0.0005 each under the Softcat plc Long Term Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
0.00
74,074
d)
Aggregated information
Aggregated volume
Price
N/A
e)
Date of the transaction
2017-11-28
f)
Place of the transaction
Outside a trading venue
1.
Details of PDMR / person closely associated with them ("PCA")
a)
Name
Colin Brown
2.
Reason for the notification
a)
Position / status
Managing Director
b)
Initial notification / amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Softcat plc
b)
LEI
N/A
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
Identification Code
Ordinary Shares of0.0005each
ISIN: GB00BYZDVK82
b)
Nature of the transaction
Grant of nil cost option over Ordinary Shares of0.0005each under the Softcat plc Long Term Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
0.00
23,148
d)
Aggregated information
Aggregated volume
Price
N/A
e)
Date of the transaction
2017-11-28
f)
Place of the transaction
Outside a trading venue





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