REG - Softcat PLC - Director/PDMR Shareholding

SoftcatAnnouncement

24/11/2023 17:00

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RNS Number : 6515U  Softcat PLC  24 November 2023

24 November 2023

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 23 November 2023 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 23 November 2023, awards under the Company's Long Term Incentive Plan (the
"LTIP") were made as outlined below.

 

An award of nil-cost options to acquire 68,703 Ordinary 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 (1,240 pence). The award
will vest subject to the performance conditions outlined below.

 

An award of nil-cost options to acquire 44,758 Ordinary shares was made to
Katy Mecklenburgh, 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 (1,240 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.

 

40% 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%

 

There will be straight-line vesting between the points as outlined above.

 

 

60% of the Award will be subject to the Company's EPS for FY 2026:

 

EPS
                        % of Award vesting

Less than 59.1 pence
                             Nil

59.1 pence
 20%

66.1 pence
    67%

71.8 pence or above
100%

 

There will be straight-line vesting between 20% and 67% and between 67% and
full vesting.

 

The normal date of vesting for the nil-cost options outlined above will be 23
November 2026 and the last date for exercise will be 22 November 2033, 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                        CEO

 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                                                                             213800N42YZLR9GLVC42
 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  Ordinary Shares of £0.0005 each

     Identification Code

                                              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      68,703
 d)  Aggregated information

     Aggregated volume                        N/A

     Price
 e)  Date of the transaction                  23 November 2023
 f)  Place of the transaction                 Outside a trading venue

d)

Aggregated information

Aggregated volume

Price

 

N/A

e)

Date of the transaction

23 November 2023

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 1.  Details of PDMR / person closely associated with them ("PCA")
 a)  Name                                     Katy Mecklenburgh

 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                                                                             213800N42YZLR9GLVC42
 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  Ordinary Shares of £0.0005 each

     Identification Code

                                              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      44,758
 d)  Aggregated information

     Aggregated volume                        N/A

     Price
 e)  Date of the transaction

                                              23 November 2023
 f)  Place of the transaction

                                              Outside a trading venue

d)

Aggregated information

Aggregated volume

Price

 

N/A

e)

Date of the transaction

 

23 November 2023

f)

Place of the transaction

 

Outside a trading venue

 

 

Luke Thomas

 

Company Secretary, Softcat plc

24 November 2023

 

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