REG - SSE Plc - Director/PDMR Shareholding
25/07/2022 17:15
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RNS Number : 6698T SSE PLC 25 July 2022
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) - Grant of Awards
The Directors/PDMRs listed in the table that follows each received awards over
Ordinary shares of 50 pence each fully paid in the Company under the DBS.
The number of shares under each award has been calculated by reference to a
price of £17.57 per share, being the average of the Company's share price
over the three dealing days immediately preceding the date of grant.
Awards granted under the DBS represent a deferral of a proportion of the cash
bonus earned for the 2021/22 annual incentive year which is converted into
shares. The shares will vest after a period of three years from the date of
grant subject normally to the participant remaining in employment with the
Company. On vesting, the participant will become entitled to additional
shares representing the value of reinvested dividends over the three-year
period.
Awards granted to Executive Directors will be subject to an additional
post-vesting holding period during which time the Executive Director must
retain the post-tax number of shares vesting under award.
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Alistair Phillips-Davies (Director)
Gregor Alexander (Director)
Martin Pibworth (Director)
Christopher Burchell (PDMR)
Rob McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Grant of Awards under the SSE plc Deferred Bonus Scheme
c) Price(s) and volume(s) Conditional awards of shares, the number of shares calculated by reference to
a price of GBP£17.57, being the average of the Company's share price over the
three dealing days immediately preceding the date of grant.
Director/PDMR Total DBS Awards Granted
21,604
Alistair Phillips-Davies (Director)
14,472
Gregor Alexander (Director)
12,739
Martin Pibworth (Director)
5,125
Christopher Burchell (PDMR)
5,121
Robert McDonald (PDMR)
2,596
Sam Peacock (PDMR)
3,176
John Stewart (PDMR)
3,912
Elizabeth Tanner (PDMR)
4,397
Stephen Wheeler (PDMR)
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 22 July 2022, date of grant
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
22 July 2022, date of grant
f)
Place of transaction
Outside a trading venue
(ii) Performance Share Plan (PSP) - Grant of Awards
The Executive Directors listed in the table that follows were each granted
awards over Ordinary shares of 50 pence each fully paid in the Company under
the PSP. The number of shares stated is the maximum which will become
available to each Executive Director if the performance targets applicable to
the award are achieved at their upper limit or above. On vesting, the
Executive Director will become entitled to additional shares representing the
value of reinvested dividends over the performance period. The number of
shares under each award has been calculated by reference to a price of £17.57
per share, being the average of the Company's share price over the three
dealing days immediately preceding the date of grant.
Vesting of these awards will normally only take place if performance
conditions are satisfied over the three-year performance period 1 April 2022
to 31 March 2025. These performance conditions are those indicated in the
Company's Directors' Remuneration Policy (as set out in the 2022 Annual
Report).
Awards granted to Executive Directors will be subject to an additional
post-vesting holding period during which time the Executive Director must
retain the post-tax number of shares vesting under award.
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)
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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Grant of Awards under the SSE plc Performance Share Plan
c) Price(s) and volume(s) Conditional awards of shares, the number of shares calculated by reference to
a price of GBP£17.57, being the average of the Company's share price over the
three dealing days immediately preceding the date of grant.
Director Total PSP Awards Granted
Gregor Alexander 94,192
Alistair Phillips-Davies 135,407
Martin Pibworth 83,928
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 22 July 2022, date of grant
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
22 July 2022, date of grant
f)
Place of transaction
Outside a trading venue
(iii) Leadership Share Plan (LSP) - Grant of Awards
The PDMRs in the table that follows were each granted awards over Ordinary
shares of 50 pence each fully paid in the Company under the LSP. The
number of shares stated is the number which will become available if the
performance targets applicable to the awards are achieved, although the number
could be increased or reduced by the Company performance adjuster described
below. On vesting, the PDMRs will become entitled to additional shares
representing the value of reinvested dividends over the performance period.
The number of shares under the award has been calculated by reference to a
price of £17.57 per share, being the average of the Company's share price
over the three dealing days immediately preceding the date of grant.
Vesting of the award will normally only take place if the performance
conditions are achieved over the three-year performance period 1 April 2022 to
31 March 2025. In addition, an overall Company performance adjuster,
allowing vesting rates to be adjusted up or down by up to 25% at the
discretion of the Remuneration Committee, may be applied if overall
performance of the Company over the performance period merits such an upward
or downward adjustment.
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Christopher Burchell (PDMR)
Robert McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Grant of Awards under the SSE plc Leadership Share Plan
c) Price(s) and volume(s) Conditional awards of shares, the number of shares calculated by reference to
a price of GBP£17.57, being the average of the Company's share price over the
three dealing days immediately preceding date of grant.
PDMR Total LSP Awards Granted
26,643
Christopher Burchell (PDMR)
24,181
Rob McDonald (PDMR)
11,724
Sam Peacock (PDMR)
15,535
John Stewart (PDMR)
16,505
Elizabeth Tanner (PDMR)
24,262
Stephen Wheeler (PDMR)
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 22 July 2022, date of grant
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
22 July 2022, date of grant
f)
Place of transaction
Outside a trading venue
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