REG - SSE Plc - Director/PDMR Shareholding

SSEAnnouncement

04/07/2019 16:15

RNS Number : 5625E
SSE PLC
04 July 2019
 


SSE plc
Director/PDMR Shareholding
SSE plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons
 
(i)           Deferred Bonus Scheme (DBS) - Vesting of Awards Granted 28 June 2016



On 2 July 2019, the independent Trustee of the SSE Employee Trust notified the Company that it had on 28 June 2019 transferred the following beneficial interest of Ordinary shares of 50 pence each fully paid in the Company, subject to awards granted on 28 June 2016 under the DBS to the Executive Directors and PDMRs listed in the table that follows.  Vesting of these shares was subject to continuous employment over the three-year period from date of grant (or as provided by the DBS Plan Rules).  In addition, an element of the vested shares (one-third of the vested balance post-tax), known as "Career Shares" for Alistair Phillips-Davies and Gregor Alexander are subject to a further holding period and will be held under nominee in accordance with the DBS Rules.




 
 



 
1


 
Details of the person(s) discharging managerial responsibilities/person closely associated with




a)


Name(s)


Gregor Alexander (Executive Director)
Alistair Phillips-Davies (Executive Director)
Martin Pibworth (Executive Director)
Rob McDonald (PDMR)
Colin Nicol (PDMR)
Jim Smith (PDMR)




 
2


 
Reason for the notification




a)


Position/status


As noted in 1a) above




b)


Initial notification/Amendment


Initial notification




 
3


 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


SSE plc




b)


LEI


549300KI75VYLLMSK856




 
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, type of instrument Identification code


Ordinary shares of 50 pence each fully paid
ISIN: GB0007908733




b)


Nature of transaction


Vesting of Awards under the SSE plc Deferred Bonus Scheme




c)


Price(s) and volume(s)
 
 


Vesting of awards granted under the SSE plc Deferred Bonus Scheme on 28 June 2019 at a vesting price of GBP£11.163768




 





Executive Director/PDMR


Gross Award of Shares


 
 
 
 
 
 
Accrued Dividend Shares


 
 
 
 
 
 
 
Total Shares


No. Shares sold at £11.163768 to meet income tax and National Insurance liabilities


 
 
 
Net Number of Shares transferred to Participant


 
 
 
 
Career Shares transferred to Nominee




Gregor Alexander
(Executive Director)


5,302


 
1,209


 
6,511


 
3,130


 
2,254


 
1,127




Alistair Phillips-Davies
(Executive Director)


6,860


 
 
1,566


 
 
8,426


 
 
4,051


 
 
2,916


 
 
1,459




Martin Pibworth
(Executive Director)


4,383


 
999


 
5,382


 
2,588


 
2,794


n/a




Rob McDonald (PDMR)


3,101


 
706


 
3,807


 
1,831


 
1,976


n/a




Colin Nicol
(PDMR)


3,930


 
896


 
4,826


 
2,320


 
2,506


n/a




Jim Smith (PDMR)


3,511


801


4,312


2,073


2,239


n/a








d)


Aggregated information
-      Aggregated volume
-      Price


 
As noted in 4c) above
As noted in 4c) above




e)


Date of transaction


28 June 2019




f)


Place of transaction


Outside a trading venue



 
 
(ii)           Performance Share Plan (PSP) - Vesting of Awards Granted 28 June 2016

 On 2 July 2019 the independent Trustee of the SSE Employee Trust notified the Company that it had on 28 June 2019 transferred the beneficial interest of Ordinary shares of 50 pence each fully paid in the Company, subject to awards granted on 28 June 2016 under the PSP to the Executive Directors listed in the table that follows.  Vesting of these shares was subject to certain performance conditions being met at the end of the three-year performance period commencing 1 April 2016.  In total 26% of the award vested for participants.








 



 
1


 
Details of the person(s) discharging managerial responsibilities/person closely associated with




a)


Name(s)


Gregor Alexander (Executive Director)
Alistair Phillips-Davies (Executive Director)




 
2


 
Reason for the notification




a)


Position/status


As noted in 1a) above




b)


Initial notification/Amendment


Initial notification




 
3


 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


SSE plc




b)


LEI


549300KI75VYLLMSK856




 
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, type of instrument Identification code


Ordinary shares of 50 pence each fully paid
ISIN: GB0007908733




b)


Nature of transaction


Vesting of Awards under the SSE plc Performance Share Plan.




c)


Price(s) and volume(s)
 
 


Vesting of awards granted under the SSE plc Performance Share Plan on 28 June 2016 at a vesting price of GBP£11.163768
 




 
 
 
 
 
 
 
 
 
 
 
 
 
 





Executive Director/PDMR


Gross Award of Shares


 
 
 
 
 
 
Accrued Dividend Shares


 
 
 
 
 
Total Shares vested at 26%


No. Shares sold at £11.163768 to meet income tax and National Insurance liabilities


 
 
 
Net Number of Shares transferred to Participant




Gregor Alexander
(Executive Director)


70,390


 
16,089


 
22,484


 
10,809


 
11,675




Alistair Phillips-Davies (Executive Director)


104,081


 
23,793


 
33,247


 
15,983


 
17,264








d)


Aggregated information
-      Aggregated volume
-      Price


 
As noted in 4c) above
As noted in 4c) above




e)


Date of transaction


28 June 2019




f)


Place of transaction


Outside a trading venue



 




 
(iii)          Leadership Share Plan (LSP) - Vesting of Awards Granted 28 June 2016
On 2 July 2019 the independent Trustee of the SSE Employee Trust notified the Company that it had on 28 June 2019 transferred the beneficial interest of Ordinary shares of 50 pence each fully paid in the Company, subject to awards granted on 28 June 2016 under the LSP to the Executive Director and PDMRs listed in the table that follows.  Vesting of these shares was subject to certain performance conditions being met at the end of the three-year performance period commencing 1 April 2016.  In total 100% of the award vested for participants.



 
1


 
Details of the person(s) discharging managerial responsibilities/person closely associated with




a)


Name(s)


Martin Pibworth (Executive Director)
Rob McDonald (PDMR)
Colin Nicol (PDMR)
Jim Smith (PDMR)




 
2


 
Reason for the notification




a)


Position/status


As noted in 1a) above




b)


Initial notification/Amendment


Initial notification




 
3


 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


SSE plc




b)


LEI


549300KI75VYLLMSK856




 
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, type of instrument Identification code


Ordinary shares of 50 pence each fully paid
ISIN: GB0007908733




b)


Nature of transaction


Vesting of Awards under the SSE plc Leadership Share Plan.




c)


Price(s) and volume(s)
 
 


Vesting of awards granted under the SSE plc Leadership Share Plan on 28 June 2016 at a vesting price of GBP£11.163768




 
 
 
 
 
 
 
 
 
 
 
 
 
 





Executive Director/PDMR


Gross Award of Shares


 
 
 
 
 
 
Accrued Dividend Shares


 
 
 
 
 
Total Shares vested at 100%


No. Shares sold at £11.163768 to meet income tax and National Insurance liabilities


 
 
 
Net Number of Shares transferred to Participant




Martin Pibworth
(Executive Director)


18,534


 
4,235


 
22,769


 
10,946


 
11,823




Rob McDonald (PDMR)


12,705


2,901


15,606


7,503


8,103




Colin Nicol (PDMR)


17,031


3,889


20,920


10,057


10,863




Jim Smith (PDMR)


14,045


3,208


17,253


8,294


8,959








d)


Aggregated information
-      Aggregated volume
-      Price


 
As noted in 4c) above
As noted in 4c) above




e)


Date of transaction


28 June 2019




f)


Place of transaction


Outside a trading venue



 




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