Director/PDMR Shareholding

Drax Group PLC

18 March 2024

 

18 March 2024

DRAX GROUP PLC

Symbol: DRX

("Drax", "the Group", "Drax Group", "the Company")

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

On Friday 15 March 2024, awards over shares were made under The Drax Group plc Long Term Incentive Plan 2020 (LTIP) and The Drax Group plc Deferred Share Plan (DSP), as part of the normal annual cycle of grants. Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility (PDMRs) have changed following the granting of these awards.

Awards made under the LTIP

The performance awards, made for nil consideration under the LTIP, are conditional awards. Vesting of the LTIP award shares is normally deferred for three years and subject to the satisfaction of certain performance conditions and to the participant remaining in employment until the vesting date. Awards to Executive Directors are subject to an additional two-year holding period following the date of vesting.

Director/PDMR	Number of shares over which LTIP award made
Will Gardiner*	292,225
Andy Skelton*	162,649
Paul Sheffield	70,413
Laurie Fitzmaurice	91,167

*Executive Directors of Drax Group plc.

Awards made under the DSP

The deferred awards, made under the DSP for nil consideration as conditional awards, were made in respect of the deferred element of the annual bonus for the financial year ended 31 December 2023. Vesting of the DSP shares is normally deferred for three years and subject to the participant remaining in employment until the vesting date. Awards to Executive Directors are subject to an additional two-year holding period following the date of vesting.  

Director/PDMR	Number of shares over which DSP award made
Will Gardiner	68,818
Andy Skelton	37,523

Awards made pursuant to a share award buyout

Laurie Fitzmaurice joined the Group in February 2024. In accordance with the terms of the contract of employment, a "buyout" award of 102,626 shares was made to Ms Fitzmaurice under the LTIP to replace awards forfeited with her previous employer. Vesting of the awards which were forfeited were solely subject to continued employment. Vesting of the replacement award is also solely subject to continued employment within the Group. The vesting will be in tranches, taking account of the vesting dates of the forfeited awards, as set out below.

Date of vesting	Number of shares over which share award made
15 April 2024	16,420
15 March 2025	43,396
15 March 2026	42,810

Brett Gladden

Group Company Secretary

The notifications below are all in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Will Gardiner
2.	Reason for the notification
a)	Position / status	Group Chief Executive
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Drax Group plc
b)	LEI	549300YPSNTXR4ZHSR98
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 Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
b)	Nature of the transaction	(i)         Award made pursuant to The Drax Group plc Long Term Incentive Plan 2020 (LTIP) (ii)         Deferred award made pursuant to The Drax Group plc Deferred Share Plan (DSP)
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)         Nil 292,225 (ii)         Nil 68,818
d)	Aggregated information -     Aggregated volume -     Price	N/A
e)	Date of the transaction	15 March 2024
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Andy Skelton
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	Drax Group plc
b)	LEI	549300YPSNTXR4ZHSR98
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 Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
b)	Nature of the transaction	(i)         Award made pursuant to The Drax Group plc Long Term Incentive Plan 2020 (LTIP) (ii)         Deferred award made pursuant to The Drax Group plc Deferred Share Plan (DSP)
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)         Nil 162,649 (ii)         Nil 37,523
d)	Aggregated information -     Aggregated volume -     Price	N/A
e)	Date of the transaction	15 March 2024
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Paul Sheffield
2.	Reason for the notification
a)	Position / status	Chief Commercial Officer
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Drax Group plc
b)	LEI	549300YPSNTXR4ZHSR98
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 Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
b)	Nature of the transaction	Awards made pursuant to The Drax Group plc Long Term Incentive Plan 2020 (LTIP)
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 70,413
d)	Aggregated information -     Aggregated volume -     Price	N/A
e)	Date of the transaction	15 March 2024
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Laurie Fitzmaurice
2.	Reason for the notification
a)	Position / status	President - Global BECCS
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Drax Group plc
b)	LEI	549300YPSNTXR4ZHSR98
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 Identification code	Ordinary shares of 11 16/29 pence GB00BIVNSX38
b)	Nature of the transaction	(i)         Award made pursuant to The Drax Group plc Long Term Incentive Plan 2020 (LTIP) (ii)         Buyout award pursuant to the LTIP
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)         Nil 91,167 (ii)         Nil 102,626
d)	Aggregated information -     Aggregated volume -     Price	N/A
e)	Date of the transaction	15 March 2024
f)	Place of the transaction	Outside a trading venue

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