REG - Softcat PLC - Director/PDMR Shareholding

SoftcatAnnouncement

05/04/2018 16:25

RNS Number : 0199K
Softcat PLC
05 April 2018
 

Softcat plc (the "Company")
 
Notification of Transactions by
Persons Discharging Managerial Responsibilities
 
 
The following notification relates to the award of nil-cost options to person discharging managerial responsibilities ("PDMR") on 4 April 2018 under the Softcat plc Long Term Incentive Plan ("LTIP").  
 
Softcat plc Long Term Incentive Plan
 
On 4 April 2018, an award of nil-cost options to acquire 66,864 shares was made to Graeme Watt, 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 (6.73 pence). The award will vest subject to the performance conditions outlined below.
 
 
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 above                                100%
 
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 4 April 2021 and the last date for exercise will be 3 April 2028, 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


Graeme Watt
 




2.


Reason for the notification




a)


Position / status


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


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


66,864









d)


Aggregated information
Aggregated volume
Price


 
N/A




e)


Date of the transaction


 
2018-04-04




f)


Place of the transaction


 
Outside a trading venue










 
 
 
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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