Director/PDMR Shareholding

Dr. Martens PLC

04 July 2023

 

Dr. Martens plc (the 'Company')

Director/PDMR Shareholding

Notification of Transactions by Directors/Persons Discharging Managerial Responsibility

The Company announces that on 30 June 2023 the following director / person discharging managerial responsibility ('PDMR') was granted a Performance Share Award (the 'Award') under the Company's Long Term Incentive Plan (the 'LTIP').

PDMR	Number of Shares
Kenny Wilson	1,541,114

The Award will vest subject to the achievement of earnings per share (67% weighting) and relative total shareholder return (33% weighting) targets over three years and, on vesting, will be subject to a further two-year holding period. In recognition of the lower share price since the last grant, the grant percentage has been scaled back from the normal policy level of 300% to 250% of base salary.

No consideration was paid for the grant of the Award and no price is payable on the exercise of the Award.

Recognising the outlook over the performance period, with profitability impacted by investments to underpin future growth and continuing economic uncertainty, the Company's Remuneration Committee has set the target range for EPS at a lower growth level than the EPS range in previous years, to provide the appropriate balance between setting targets that are achievable, but at the same time ambitious. The target range is three-year EPS CAGR of between 3% to 11%, against the base year of FY23. The target range for EPS is, in the view of the Remuneration Committee, equivalently stretching to the range set in prior years. The target range recognises the anticipated shape of the earnings trajectory, including the challenges of FY24.

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Kenny Wilson
2	Reason for the notification
a)	Position/status	PDMR (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	Dr. Martens plc
b)	LEI	213800QPT8YM6NQZPH28
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 of GBP 0.01 ISIN: GB00BL6NGV24
b)	Nature of the transaction	Grant of performance share award under the Dr. Martens Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,541,114
d)	Aggregated information - Aggregated volume - Price	1,541,114 Nil
e)	Date of the transaction	30 June 2023
f)	Place of the transaction	Outside of a trading venue

For further information, please contact:
Paul Rolling, Assistant Company Secretary
[phone]

Bethany Barnes, Director of Investor Relations
[phone]

ENDS

About Dr. Martens

Dr. Martens is an iconic British brand founded in 1960 in Northamptonshire. Produced originally for workers looking for tough, durable boots, the brand was quickly adopted by diverse youth subcultures and associated musical movements. Dr. Martens has since transcended its working-class roots while still celebrating its proud heritage and, six decades later, "Docs" or "DM's" are worn by people around the world who use them as a symbol of empowerment and their own individual attitude. The Company is a constituent of the FTSE 250 index.

 

END