Grant of LTIP share options

RNS Number : 9109Z

Lookers PLC

28 January 2022

 

28 January 2022

 

Lookers plc

Director/PDMR Shareholding

Grant of share options under the Lookers plc Long-Term Incentive Plan

The Board of Directors of Lookers plc ("Lookers" or the "Company") announces that, following approval by the Company's Remuneration Committee, on 25 January 2022 the Company granted nil cost share options pursuant to the rules of the Lookers Long-Term Incentive Plan over ordinary shares of £0.05 each in the capital of the Company (the "Options").

The Options comprise:

· Options granted in respect of the 2022 financial year to senior employees, which are exercisable upon the Committee determining vesting following the end of the performance period subject to meeting stretching Absolute Total Shareholder Return and Underlying Earnings Per Share performance targets over a three financial year period to 31 December 2024; and

· an Option granted to Oliver Laird following his appointment as Chief Financial Officer on 15 November 2021, which is exercisable three years from the date of grant, subject to meeting stretching Absolute Total Shareholder Return and Underlying Earnings Per Share performance targets over a three financial year period to 31 December 2023.  This option has the same performance conditions as the awards granted to Mark Raban and Duncan McPhee in August 2021.  The award size is 66% of salary to reflect Oliver's service as a proportion of the total performance period. 

Details of the options granted to PDMRs are as follows:

PDMR	Position	Award	Number of shares subject to Option
Mark Raban	Chief Executive Officer	FY2022 award	991,189
Oliver Laird	Chief Financial Officer	FY2022 award	411,160
Duncan McPhee	Chief Operating Officer	FY2022 award	411,160
Oliver Laird	Chief Financial Officer	Recruitment award	271,365

The Options are subject to malus and clawback in line with the Company's Directors' Remuneration Policy.  A two year holding period is applicable following vesting. 

In accordance with Article 19 of the UK Market Abuse Regulation, detailed information about the grant of the Options to PDMRs is attached to this announcement.

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)	Name	Mark Raban
2.	Reason for the notification
a)	Position / status	Chief Executive Officer
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer or emission allowance market participant
a)	Name	Lookers plc
b)	LEI	213800TSB8PJEACDAV33
4.	Details of the transaction(s):
a)	Description of the financial instrument Identification code	Nil cost option over ordinary shares of 5 pence GB00B17MMZ46
b)	Nature of the transaction	Grant of option
c)	Price(s) and volume(s)	Volume: 991,189 Price: nil cost option
d)	Aggregated information -   Aggregated volume -   Price	N/A - single transaction
e)	Date of the transaction	25 January 2022
f)	Place of the transaction	London Stock Exchange

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Duncan McPhee
2.	Reason for the notification
a)	Position / status	Chief Operating Officer
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer or emission allowance market participant
a)	Name	Lookers plc
b)	LEI	213800TSB8PJEACDAV33
4.	Details of the transaction(s):
a)	Description of the financial instrument Identification code	Nil cost option over ordinary shares of 5 pence GB00B17MMZ46
b)	Nature of the transaction	Grant of option
c)	Price(s) and volume(s)	Volume: 411,160 Price: nil cost option
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	25 January 2022
f)	Place of the transaction	London Stock Exchange

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Oliver Laird
2.	Reason for the notification
a)	Position / status	Chief Financial Officer
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer or emission allowance market participant
a)	Name	Lookers plc
b)	LEI	213800TSB8PJEACDAV33
4.	Details of the transaction(s):
a)	Description of the financial instrument Identification code	Nil cost option over ordinary shares of 5 pence GB00B17MMZ46
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Volume: 411,160 and Volume: 271,365 Price: nil cost option
d)	Aggregated information - Aggregated volume - Price	N/A - single transaction
e)	Date of the transaction	25 January 2022
f)	Place of the transaction	London Stock Exchange

Enquiries:

MHP Communications

Tim Rowntree  / Simon Hockridge      020 3128 8742

The Company is registered in England at Lookers House, 3 Etchells Road, West Timperley, Altrincham WA14 5XS.  Company registration number 00111876.  LEI number 213800TSB8PJEACDAV33

 

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