Director/PDMR Shareholding

RNS Number : 8717O

QinetiQ Group plc

14 June 2022

 

QinetiQ Group plc (the "Company")

QinetiQ Group plc LEI: 213800S8OBDOZMCMUW34

QinetiQ Group plc announces that, on 14 June 2022, awards over Ordinary Shares of 1 pence each in the Company ("Ordinary Shares") were granted to Directors of the Company as set out below (the "DSP Awards").

Name	Status	No. of Shares Subject to Award
Steve Wadey	CEO	159,198
Carol Borg	CFO	49,299
TOTAL		208,497

The DSP Awards were granted under the terms of the Deferred Share Plan (Element B of the 2017 QinetiQ Group plc Incentive Plan) in respect of the year ended 31 March 2022 (FY22).

The DSP Awards, which are made annually at this time where performance leads to an award, were calculated on the basis of FY22 audited performance (as announced in the Company's Preliminary Results for FY22 on 19^th May 2022).  As set out on page 127 of the Company's annual report and accounts for FY22, the calculations were made on the basis of the Director's salary levels and the Company's achievement in FY22 against revenue growth and margin maintenance targets, using the Company's average share price for March 2022 (302.1p) as the underlying basis for calculating the number of Ordinary Shares to be awarded.

The Ordinary Shares will vest on the third anniversary of grant subject to continued employment and are subject to a performance underpin before vesting:

· Group underlying profit outturn for FY22 must be maintained at the end of the three-year vesting period. If this is not maintained then, at a minimum, 50% of the award will lapse. For the purposes of the FY22 DSP award, this will be the actual underlying operating profit (£137.4m) for FY22 which must be achieved in FY25.

Any vested shares must be retained by the Director for a further two years.

No consideration was paid for the grant of these awards and no payment is due on the release of any shares.

The Notification of Dealing Forms can be found below.  This announcement is made in accordance with the UK Market Abuse Regulation (Regulation (EU) 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). 

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

1.	Details of PDMR / person closely associated with them ("PCA")
(a)	Name	Steve Wadey
2.	Reason for the notification
(a)	Position / status	Chief Executive Officer / Director
(b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name	QinetiQ Group plc
(b)	Legal Entity Identifier Code	213800S8OBDOZMCMUW34
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	QinetiQ Group plc ordinary shares of 1 pence GB00B0WMWD03
(b)	Nature of the transaction	Conditional award of shares under the 2017 QinetiQ Group plc Deferred Share Plan, subject to a performance underpin over a three year period. The expected vesting date is 14 June 2025.
(c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NIL	159,198
(d)	Aggregated information -  Price -  Volume -  Total	N/A
(e)	Date of the transaction	2022-06-14
(f)	Place of the transaction	Outside of trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
(a)	Name	Carol Borg
2.	Reason for the notification
(a)	Position / status	Chief Financial Officer / Director
(b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name	QinetiQ Group plc
(b)	Legal Entity Identifier Code	213800S8OBDOZMCMUW34
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	QinetiQ Group plc ordinary shares of 1 pence GB00B0WMWD03
(b)	Nature of the transaction	Conditional award of shares under the 2017 QinetiQ Group plc Deferred Share Plan, subject to a performance underpin over a three year period. The expected vesting date is 14 June 2025.
(c)	Price(s) and volume(s)	Price(s)	Volume(s)
		NIL	49,299
(d)	Aggregated information -  Price -  Volume -  Total	N/A
(e)	Date of the transaction	2022-06-14
(f)	Place of the transaction	Outside of trading venue

 

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