Director/PDMR Shareholding

RNS Number : 2430S

Paragon Banking Group PLC

07 July 2020

 

7 July 2020

Paragon Banking Group PLC

Director Shareholding

On 6 July 2020, Paragon Banking Group PLC (the "Company") granted awards over the Company's Ordinary Shares of £1.00 each to the following directors under the Paragon Performance Share Plan 2013 (" PPSP ").

Director	Role	Number of shares awarded under PPSP
N S Terrington	Chief Executive Officer	312,429
R J Woodman	Chief Financial Officer	196,763

No consideration was paid for the grant of the awards, which have been structured as nil-cost options. 

The awards will vest subject to the satisfaction of performance conditions, which will be measured over the period of three financial years ending on 30 September 2022. The awards, to the extent they vest, will ordinarily become exercisable following the end of a further holding period when the Company announces its results for the financial year ending 30 September 2024. The awards will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant.

The number of shares subject to each award has been determined by reference to a share price of £3.4496, being the average share price over the five dealing days immediately following the announcement by the Company of its results for the six months ended 31 March 2020. Having regard to recent share price movements, the Remuneration Committee has retained discretion to reduce the extent to which the awards vest if any value in the award when the performance conditions are assessed is considered a "windfall gain" as a result of the use of this price, rather than the price following the announcement by the Company of its results for the financial year ended 30 September 2019.

Enquiries:

Carolyn Sharpe

Senior Assistant Company Secretary

Tel:  [phone]

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nigel Stewart Terrington
2	Reason for the notification
a)	Position/status	Chief Executive Officer (PDMR)
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	Paragon Banking Group PLC
b)	LEI code	213800S1TDKIB1IUTS72
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 Identification code	Ordinary shares of £1.00 each in Paragon Banking Group PLC GB00B2NGPM57
c)	Nature of the transaction	Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP").
d)	Price(s) and volume(s)	Price Volume £0.00 312,429
e)	Aggregated information - Aggregated volume - Price	N/A
f)	Date of the transaction	6 July 2020
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Richard James Woodman
2	Reason for the notification
a)	Position/status	Chief Financial Officer (PDMR)
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	Paragon Banking Group PLC
b)	LEI code	213800S1TDKIB1IUTS72
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 Identification code	Ordinary shares of £1.00 each in Paragon Banking Group PLC GB00B2NGPM57
b)	Nature of the transaction	Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP").
c)	Price(s) and volume(s)	Price Volume £0.00 196,763
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	6 July 2020
f)	Place of the transaction	Outside a trading venue

 

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