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	[phone]
Media Relations Andrea Ward	[phone]
Institutional Equity Investors Sarah Moody Corbin Chaplin	[phone] [phone]

LEI: OTMBS544NMO7GLCE7H90

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

 

END