REG - Taylor Wimpey PLC - Director/PDMR Shareholding

Taylor WimpeyAnnouncement

28/04/2023 13:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230428:nRSb9108Xa&default-theme=true

RNS Number : 9108X  Taylor Wimpey PLC  28 April 2023

 

 

 

 

 

 

28 April 2023

Taylor Wimpey plc

Director / PDMR Shareholding

 

This information set out below is provided in accordance with the requirements
of the EU Market Abuse Regulation.

 

The Directors named below have been granted a conditional nil cost share award
under the Taylor Wimpey Performance Share Plan.

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1.   Jennie Daly

                                                                   2.   Chris Carney

 2    Reason for the notification

 a)   Position/status                                              1.   Chief Executive

                                                                   2.   Group Finance Director

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Taylor Wimpey plc

 b)   LEI                                                          21380089BTRXTD8S3R66

 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  Ordinary shares of 1 pence each

      Identification code

                                                                   GB0008782301

 b)   Nature of the transaction                                    Conditional nil cost performance share awards made under the 2017 Taylor

                                                            Wimpey Performance Share Plan

 c)   Price(s) and volume(s)

Price(s)                                                                       Volume(s)

                                                                   124.25 pence.

                                                                   The number of shares awarded was calculated using the above, which is the      1.   1,207,243
                                                                   average of the closing MMQ over the three business days prior to the date of

                                                                   these Awards on 28 April 2023                                                  2.   812,394

 

 d)   Aggregated information

      - Aggregated volume                                          2,019,637

      - Price                                                      124.25 pence

 e)   Date of the transaction                                      28 April 2023

 f)   Place of the transaction                                     London Stock Exchange (XLON)

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

2,019,637

 

 

124.25 pence

 

e)

 

Date of the transaction

 

 

28 April 2023

f)

 

Place of the transaction

 

 

London Stock Exchange (XLON)

 

The performance conditions relating to the awards are as follows:

 Performance Measure                                                      Weighting  Threshold  Maximum
 Total Shareholder Return over three financial years to 31 December 2025  40%        Median     Upper Quartile
 Operating Profit Margin in 2025                                          15%        13%        18%
 RONOA in 2025                                                            15%        14%        19%
 Customer Service 9-month in 2025                                         15%        78.5%      81.5%
 Carbon Reduction in 2025 (from a 2019 baseline)                          15%        34%        38%

 

 

Recognising the outlook over the performance period for lower profitability
across the entire housing sector and continuing economic uncertainty, the
Remuneration Committee has set the target ranges for Operating Profit Margin
and RONOA at lower levels and with a broader range between threshold and
maximum than in previous years, to provide the appropriate balance between
setting targets that are achievable, but at the same time stretching.

The target ranges for all measures are, in the view of the Remuneration
Committee, equivalently challenging to the ranges set in prior years.

 

-Ends-

For further information please contact:

Taylor Wimpey
plc

Ishaq Kayani, Group General Counsel & Company Secretary
Tel: +44 (0) 1494 885 614

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHSEMFFAEDSEDL