REG - Weir Group PLC - Director/PDMR Shareholding
15/04/2024 16:30
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RNS Number : 6810K Weir Group PLC 15 April 2024
15 April 2024
The Weir Group PLC
Notification of Transactions by Persons Discharging Managerial
Responsibilities ("PDMRs") and Persons Closely Associated with them
The Weir Group PLC (the "Company") hereby announces that on 11 April 2024,
Brian Puffer was granted restricted share awards under The Weir Group Share
Reward Plan.
These restricted share awards have been granted to Brian Puffer to compensate
him for incentive awards that he forfeited on leaving bp plc, as announced at
the time of his appointment and in the Company's 2023 Annual Report. These
awards are scheduled to vest between February 2025 and March 2027. These
buy-out awards have been structured to reflect the time frames and key terms
of the forfeited awards. As such, although not subject to performance
conditions, for certain awards the Remuneration Committee has determined that
it will make a downward adjustment at the time of vesting to reflect the
extent to which a corresponding performance share award granted under the bp
plc Executive Directors' Incentive Plan would not have vested, based on the
level of performance share vesting for the relevant performance cycle
disclosed in the bp Annual Report and Form 20-F for the last financial year in
such performance cycle. For the avoidance of doubt, the number of shares
subject to the awards set out below represent the maximum number of shares
which may be acquired when such awards vest and in no circumstances will an
award vest over more shares than the initial number of shares awarded.
This notification relates to a transaction notified in accordance with the
Market Abuse Regulation, further details below:
1. Details of the person discharging managerial responsibilities/ person closely
associated
a) Name Brian Puffer
2. Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/ Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Weir Group PLC
b) LEI 549300KDR56WHY9I3D10
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 12.5p each fully paid
Identification code
GB0009465807
b) Nature of the transaction Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 28 February 2025.
The Award is not subject to performance conditions.
No consideration was paid for the grant of the award.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 20,441
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities/ person closely
associated
a) Name Brian Puffer
2. Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/ Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Weir Group PLC
b) LEI 549300KDR56WHY9I3D10
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 12.5p each fully paid
Identification code
GB0009465807
b) Nature of the transaction Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 31 March 2025.
The Award is not subject to performance conditions. However, the Remuneration
Committee has determined that it will make a downward adjustment to the award
to reflect the extent to which a performance share award granted in May/June
2022 under the bp plc Executive Directors' Incentive Plan would not have
vested, based on the level of performance share vesting for the 2022-24 cycle
disclosed in the bp Annual Report and Form 20-F for the financial year ended
31 December 2024.
No consideration was paid for the grant of the award.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 24,985
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside a trading venue
1. Details of the person discharging managerial responsibilities/ person closely
associated
a) Name Brian Puffer
2. Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/ Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Weir Group PLC
b) LEI 549300KDR56WHY9I3D10
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 12.5p each fully paid
Identification code
GB0009465807
b) Nature of the transaction Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 31 March 2025.
The Award is not subject to performance conditions.
No consideration was paid for the grant of the award.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 40,747
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely
associated
a)
Name
Brian Puffer
2.
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/ Amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a)
Name
The Weir Group PLC
b)
LEI
549300KDR56WHY9I3D10
4.
Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 12.5p each fully paid
GB0009465807
b)
Nature of the transaction
Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 31 March 2025.
The Award is not subject to performance conditions.
No consideration was paid for the grant of the award.
c)
Price(s) and volume(s)
Price(s) Volume(s)
Nil 40,747
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities/ person closely
associated
a) Name Brian Puffer
2. Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/ Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Weir Group PLC
b) LEI 549300KDR56WHY9I3D10
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 12.5p each fully paid
Identification code
GB0009465807
b) Nature of the transaction Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 27 February 2026.
The Award is not subject to performance conditions.
No consideration was paid for the grant of the award.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 16,677
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities/ person closely
associated
a) Name Brian Puffer
2. Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/ Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Weir Group PLC
b) LEI 549300KDR56WHY9I3D10
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 12.5p each fully paid
Identification code
GB0009465807
b) Nature of the transaction Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 31 March 2026.
The Award is not subject to performance conditions. However, the Remuneration
Committee has determined that it will make a downward adjustment to the award
to reflect the extent to which a performance share award granted in May/June
2023 under the bp plc Executive Directors' Incentive Plan would not have
vested, based on the level of performance share vesting for the 2023-25 cycle
disclosed in the bp Annual Report and Form 20-F for the financial year ended
31 December 2025.
No consideration was paid for the grant of the award.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 20,383
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside a trading venue
1. Details of the person discharging managerial responsibilities/ person closely
associated
a) Name Brian Puffer
2. Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/ Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name The Weir Group PLC
b) LEI 549300KDR56WHY9I3D10
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 12.5p each fully paid
Identification code
GB0009465807
b) Nature of the transaction Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 31 March 2027.
The Award is not subject to performance conditions.
No consideration was paid for the grant of the award.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 2,127
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely
associated
a)
Name
Brian Puffer
2.
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/ Amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a)
Name
The Weir Group PLC
b)
LEI
549300KDR56WHY9I3D10
4.
Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; (iv) each place
where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 12.5p each fully paid
GB0009465807
b)
Nature of the transaction
Grant of Restricted Share Award under The Weir Group Share Reward Plan. The
award will vest in a single tranche on 31 March 2027.
The Award is not subject to performance conditions.
No consideration was paid for the grant of the award.
c)
Price(s) and volume(s)
Price(s) Volume(s)
Nil 2,127
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside a trading venue
For further information, please contact:
Graham Vanhegan
Company Secretary
Telephone: 0141 308 3771
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