Director/PDMR Shareholding

abrdn PLC
06 November 2023
 

abrdn plc

('the Company')

Notification of Interests of Executive Director

The notification set out below is provided under Article 19 of the Market Abuse Regulation ('MAR').

 

On 2 November 2023, the Company granted to Jason Windsor the following buy out awards  to compensate for remuneration he is forfeiting on leaving his previous employer.

 

The awards were structured as conditional awards and were granted under a one-off award arrangement established under Listing Rule 9.4.2(2) in order to facilitate the recruitment of Mr Windsor.

 

The vesting timelines are the same as those which applied to the forfeited awards. Awards granted to replace forfeited awards which were subject to performance conditions are also subject to performance conditions. Further details will be disclosed in abrdn's Directors' Remuneration Report for the year ending 31 December 2023.

 

Buyout awards subject to performance conditions

Awards have been made in the form of nil-cost options to acquire ordinary shares in the Company, subject to pre-vesting performance conditions.

 

The Awards will normally vest on the dates shown below, only to the extent that the performance conditions have been met. Vested Awards are subject to a holding period for two years. After this date, they are released and may be exercised by holders up to 10 years from the date the Awards were granted.

 

Award

Number of abrdn plc shares awarded

Normal Vesting Date

2021 Long Term Incentive Buy Out Award

183,024

25 March 2024

2022 Long Term Incentive Buy Out Award

516,637

March 2025*

2023 Long Term Incentive Buy Out Award

620,854

March 2026*

* Timing of Vesting of these Awards is dependent on the timing of announcement of Persimmon plc results.

 

No consideration is payable on the grant or vesting of any of the Awards. The number of shares to which each Award relates will be increased by an additional number of shares equal in value to any dividends that would have been paid on all the shares in respect of which the Award is released, over the period from the grant date to the release date. 

 

Buyout awards not subject to performance conditions

Awards have been made in the form of nil-cost options to acquire ordinary shares in the Company.

 

The Awards will normally vest on the dates shown below.  Awards may be exercised by holders up to 10 years from the date the Awards were granted. 

 

 

Award

Number of abrdn plc shares awarded

Normal Vesting Date

2021 Bonus Award (bought-out)

54,228

25 March 2024

2021 Deferred Bonus Award (bought-out)

163,171

March 2025*

2022 Deferred Bonus Award (bought-out)

233,212

March 2026*

*Timing of Vesting of these Awards is dependent on the timing of announcement of Persimmon plc results.

 

6 November 2023

 

 

Enquiries:

 

Group Secretariat

Paul McKenna

 

+44 (0) 7736 853 801

 



Media Relations

Andrea Ward

 

 

+44 (0) 7876 178 696

 

Institutional Equity Investors

Sarah Moody

 

Corbin Chaplin

 

 

+44 (0) 7721 679 892

 

+44 (0) 7774 332 428



 

LEI: OTMBS544NMO7GLCE7H90

Classification: 3.1. Additional regulated information required to be disclosed under the laws of the United Kingdom

 

 

 

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