Director/PDMR Shareholding

RNS Number : 9515B

Aston Martin Lagonda Global Hld PLC

15 June 2021

 

15 June 2021

Aston Martin Lagonda Global Holdings plc

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

Aston Martin Lagonda Global Holdings plc (the "Company") announces the following changes in the interests of Directors in the Ordinary Shares in the Company ("Shares"), which took place on 14 June 2021.

Long-term Incentive Plan awards

In accordance with the rules of the Aston Martin Lagonda Long-Term Incentive Plan 2018 ("LTIP"), the Directors named below were granted nil-cost options over Shares as follows:

· Tobias Moers (CEO) - 126,865 shares (300% of salary)

· Kenneth Gregor (CFO) - 42,288 shares (200% of salary)

The LTIP awards are the 2021 grant and are subject to the performance conditions, performance periods, vesting periods and malus and clawback provisions set out below, in-line with the Remuneration Policy approved in 2019, and as disclosed in the 2020 Directors' Remuneration Report.

2021 LTIP performance measures and targets

		2021 LTIP targets	Vesting* (as a % of maximum)
Adjusted EBITDA (£m in FY23) (80% of award)	Threshold	300	20%
	Stretch	425	80%
	Maximum	500	100%
Relative TSR** (vs. luxury peers) (20% of award)	Threshold	Rank 6th (median)	20%
	Maximum	Rank 3rd or above (80th percentile)	100%

* Vesting will be on a straight-line basis between each of threshold and stretch, and stretch and maximum for the EBITDA
  element and threshold and maximum for the TSR element.

** TSR performance will be measured on a ranked basis against the following luxury companies: Burberry, Capri Holdings, Compagnie Financiere Richemont, Ferrari, Hermes International, Kering, LVMH, Moncler, Prada and Ralph Lauren.

· The Remuneration Committee retains discretion to adjust the vesting levels to ensure they reflect underlying business performance and any other relevant factors to ensure that the value at vesting is fully reflective of the performance delivered and executives do not receive unjustified windfall gains.

Performance period

· The period over which the EBITDA performance condition will be measured is from 1 January 2021 to 31 December 2023 (three financial years).

· The period over which the TSR performance condition will be measured is from 14 June 2021 to 13 June 2024 (three years from grant date).

Vesting period

· Subject to performance, the element of awards subject to EBITDA performance will vest following the announcement of results for 2023 (early March 2024).

· Subject to performance, the element of awards subject to relative TSR performance will vest three years from grant, following the Remuneration Committee's determination of the performance outcome.

· The CEO and CFO will be required to hold at least 75% of any shares that vest (net of tax) until they have met their shareholding guidelines under the shareholding policy.

Deferred Share Bonus Plan awards

In accordance with the rules of the Aston Martin Lagonda Deferred Share Bonus Plan 2018 ("DBSP"), the Directors named below were granted nil-cost options over Shares as follows:

· Tobias Moers (CEO) - 1,866 shares

· Kenneth Gregor (CFO) - 884 shares

The DBSP awards are in relation to the 2020 annual bonus which, as disclosed in the 2020 Directors' Remuneration Report, was to be delivered 50% in cash and 50% in deferred shares.  The number of shares granted reflects the net bonus amount (post tax and NI).  Shares under the DBSP awards are deferred for a period of 3 years from grant and will be released, subject to continued employment, on 14 June 2024.

Malus and Clawback:

· Malus and clawback provisions will be operated at the discretion of the Remuneration Committee in respect of awards granted under the LTIP and DBSP where it considers that there are exceptional circumstances. Such exceptional circumstances may include serious reputational damage, a failure of risk management, an error in available financial information, which led to the award being greater than it would otherwise have been or personal misconduct.

· Clawback may be applied for a period of up to three years for any LTIP and DBSP awards.

Enquiries:

Investors and Analysts Charlotte Cowley, Director of Investor Relations	[phone] [e-mail]
Media Kevin Watters, Director of Communications	[phone] [e-mail]
Grace Barnie, Corporate Communications Manager	[phone] [e-mail]
Tulchan Communications Harry Cameron and Simon Pilkington	[phone]

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Tobias Moers
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aston Martin Lagonda Global Holdings plc
b)	LEI	213800167WOVOK5ZC776
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 code	Ordinary Shares (ISIN:  GB00BN7CG237)
b)	Nature of the transaction	Grant of 2021 LTIP awards
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 126,865
d)	Aggregated information - Aggregated volume - Price	126,865 £0
e)	Date of the transaction	14 June 2021
f)	Place of the transaction	Outside a trading venue

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Kenneth Gregor
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	Aston Martin Lagonda Global Holdings plc
b)	LEI	213800167WOVOK5ZC776
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 code	Ordinary Shares (ISIN:  GB00BN7CG237)
b)	Nature of the transaction	Grant of 2021 LTIP awards
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 42,288
d)	Aggregated information - Aggregated volume - Price	42,288 £0
e)	Date of the transaction	14 June 2021
f)	Place of the transaction	Outside a trading venue

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Tobias Moers
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aston Martin Lagonda Global Holdings plc
b)	LEI	213800167WOVOK5ZC776
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 code	Ordinary Shares (ISIN:  GB00BN7CG237)
b)	Nature of the transaction	Grant of 2020 DBSP awards
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,866
d)	Aggregated information - Aggregated volume - Price	1,866 £0
e)	Date of the transaction	14 June 2021
f)	Place of the transaction	Outside a trading venue

Notification of transactions by Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Kenneth Gregor
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	Aston Martin Lagonda Global Holdings plc
b)	LEI	213800167WOVOK5ZC776
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 code	Ordinary Shares (ISIN:  GB00BN7CG237)
b)	Nature of the transaction	Grant of 2020 DBSP awards
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 884
d)	Aggregated information - Aggregated volume - Price	884 £0
e)	Date of the transaction	14 June 2021
f)	Place of the transaction	Outside a trading venue

 

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