REG - SSE Plc - Director/PDMR Shareholding

SSEAnnouncement

01/07/2020 18:50

RNS Number : 7769R
  
SSE PLC
  
01 July 2020
  
 

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 26 June 2017

 
On 26 June 2020, the independent Trustee of the SSE Employee Trust notified the Company that it had on 26 June 2020 transferred the following beneficial interest of Ordinary shares of 50 pence each fully paid in the Company, subject to awards granted on 26 June 2017 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, the vested shares (balance post-tax), known as "Career Shares" for Alistair Phillips-Davies, Gregor Alexander and Martin Pibworth 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)
Elizabeth Tanner (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 26 June 2020 at a vesting price of GBP£13.745984




 






Executive Director/PDMR


Gross Award of Shares


 
 
 
 
 
 
Accrued Dividend Shares


 
 
 
 
 
 
 
Total Shares


No. Shares sold at £13.745984 to meet income tax and National Insurance liabilities


 
 
Post-Tax Balance of Shares sold in Market @ £13.745984 per share


 
 
 
Net Number of Shares transferred to Participant


 
 
 
 
Career Shares transferred to Nominee




Gregor Alexander 
(Executive Director)


13,442 


 3,304 


16,746 


8,067 


 
-


-


8,679




Alistair Phillips-Davies 
(Executive Director)


20,068 


4,932 


25,000 


12,043 


 
 
-


   
-


 
12,957




Martin Pibworth
(Executive Director)


5,715 


1,402 


7,117 


 3,429 


 
 
-


  
-


 
 
3,688




Rob McDonald (PDMR)


3,933 


964 


4,897 


2,351


 
2,546


-


 
-




Colin Nicol 
(PDMR)


5,427 


1,333 


6,760 


3,257 


   
-


 
3,503


 
-




Jim Smith (PDMR)


4,289 


1,051 


5,340 


2,573 


 
-


 
2,767


 
-




Elizabeth Tanner (PDMR)


1,676 


410 


2,086 


984 


-


 
1,102


 
-




 




d)


Aggregated information
-      Aggregated volume
-      Price


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




e)


Date of transaction


26 June 2020




f)


Place of transaction


Outside a trading venue




 
 
(ii)           Performance Share Plan (PSP) - Vesting of Awards Granted 26 June 2017


On 26 June 2020 the independent Trustee of the SSE Employee Trust notified the Company that it had on 26 June 2020 transferred the beneficial interest of Ordinary shares of 50 pence each fully paid in the Company, subject to awards granted on 26 June 2017 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 2017.  In total 27% of the award vested for participants.  The vested shares (balance post-tax), known as "Award 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 PSP 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)




 
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 26 June 2017 at a vesting price of GBP£13.745984
 




 
 
 
 
 
 
 
 
 
 
 
 
 
 






Executive Director/PDMR


Gross Award of Shares


 
 
 
 
 
 
Accrued Dividend Shares


 
 
 
 
 
Total Shares vested at 27%


No. Shares sold at £13.745984 to meet income tax and National Insurance liabilities


 
 
 
 
Award Shares transferred to Nominee




Gregor Alexander 
(Executive Director)


78,099 


19,210 


 26,273 


12,656 


13,617 




Alistair Phillips-Davies (Executive Director)


115,479 


28,406 


38,848 


18,713 


20,135 




 




d)


Aggregated information
-      Aggregated volume
-      Price


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




e)


Date of transaction


26 June 2020




f)


Place of transaction


Outside a trading venue




 
 
 
(iii)          Leadership Share Plan (LSP) - Vesting of Awards Granted 26 June 2017
On 26 June 2020 the independent Trustee of the SSE Employee Trust notified the Company that it had on 26 June 2020 transferred the beneficial interest of Ordinary shares of 50 pence each fully paid in the Company, subject to awards granted on 26 June 2017 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 2017.  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 26 June 2017 at a vesting price of GBP£13.745984




 
 
 
 
 
 
 
 
 
 
 
 
 
 






Executive Director/PDMR


Gross Award of Shares


 
 
 
 
 
 
Accrued Dividend Shares


 
 
 
 
 
Total Shares vested at 100%


No. Shares sold at £13.745984 to meet income tax and National Insurance liabilities


 
 
Post-Tax Balance of Shares sold in Market @ £13.745984 per share


 
 
 
Net Number of Shares transferred to Participant




Martin Pibworth 
(Executive Director)


23,411 


5,755 


29,166 


14,049 


 
-


 
15,117




Rob McDonald (PDMR)


16,110 


3,960 


20,070 


 
9,634


 
10,436


 
-




Colin Nicol (PDMR)


22,778 


5,601 


28,379 


13,670 


 
-


 
14,709




Jim Smith (PDMR)


16,801 


4,129 


20,930 


10,082 


 
-


 
10,848




 




d)


Aggregated information
-      Aggregated volume
-      Price


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




e)


Date of transaction


26 June 2020




f)


Place of transaction


Outside a trading venue




 


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