Director/PDMR Shareholding

RNS Number : 4241I

Grainger PLC

11 December 2020

 

Grainger plc

("Grainger" or the "Company") 

GRAINGER PLC 2017 LONG TERM INCENTIVE PLAN AND GRANT OF OPTIONS TO DIRECTORS

The Company announces that it has made the following grants of nil cost share options ("Options") over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the 2017 Long Term Incentive Plan ("LTIP") on 10 December 2020 (under the LTIP rules as amended and approved by the shareholders at the Company's AGM on 5 February 2020).

Grant of Options

On 10 December 2020, Grainger granted Options over a total of 525,062 Shares to its Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") of the Company (as specified in the table below).

Director/ PDMR	Position	No. of shares under Option
Helen Gordon	Chief Executive Officer	350,496
Andrew Saunderson	Director of Investments	87,283
Michael Keaveney	Director of Land and Development	87,283

The Options will generally vest and become exercisable three years from the date of grant, subject to continued employment. Vesting of the Options is subject to certain performance conditions, namely the Total Property Return ("TPR") performance, relative Total Shareholder Return ("TSR") and Secured PRS Investment. Half of the Shares under an Option are subject to TSR performance conditions, a quarter of the Shares under an Option are subject to TPR performance conditions and a quarter of the Shares under an Option are subject to the Secured PRS Investment performance conditions.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Helen Gordon
2	Reason for the notification
a)	Position/status	Chief Executive Officer, Director
b)	Initial notification	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Grainger plc
b)	LEI		2138007CEIRKZMNI2979
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		Ordinary Shares of 5p each in Grainger plc
b)	Identification code		GB00B04V1276
c)	Nature of the transaction		Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
d)	Price and volumes		Price - Nil Volume: 350,496 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price		N/A
e)	Date of the transaction		10 December 2020
f)	Place of the transaction		Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Andrew Saunderson
2	Reason for the notification
a)	Position/status	Director of Investments, PDMR
b)	Initial notification	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Grainger plc
b)	LEI	2138007CEIRKZMNI2979
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	Ordinary Shares of 5p each in Grainger plc
b)	Identification code	GB00B04V1276
c)	Nature of the transaction	Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
d)	Price and volumes	Price - Nil Volumes:   87,283 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	10 December 2020
f)	Place of the transaction	Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Michael Keaveney
2	Reason for the notification
a)	Position/status	Director of Land and Development, PDMR
b)	Initial notification	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Grainger plc
b)	LEI	2138007CEIRKZMNI2979
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	Ordinary Shares of 5p each in Grainger plc
b)	Identification code	GB00B04V1276
c)	Nature of the transaction	Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
d)	Price and volumes	Price - Nil Volumes: 87,283 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	10 December 2020
f)	Place of the transaction	Outside a trading venue

Name of authorised official of issuer responsible for making notification.

Adam McGhin

Group General Counsel and Company Secretary

 

END

 

 

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