Director/PDMR Shareholding

RNS Number : 2013D

Electrocomponents PLC

25 June 2021

 

ELECTROCOMPONENTS PLC

(the "Company")

Notification of transactions by Persons Discharging Managerial Responsibilities

The Company announces that a grant of awards over the Company ordinary shares of 10 pence each in the Company was made on 24 June 2021 under the Electrocomponents Long Term Incentive Scheme 2014 ('LTIP').

As disclosed in the Annual Report and Accounts for the year ending 31 March 2021, in light of the ongoing market and trading uncertainty, the Adjusted EPS targets for this award had not been finalised by the Remuneration Committee as at the date of the Annual Report and Accounts and were therefore not included in that report.

The performance targets for this award have now been confirmed. Vesting of these awards will be determined in accordance with the following performance targets measured over the three financial years to 31 March 2024:

Measure	Weight	Threshold (25% vesting)	Maximum (100% vesting)
Adjusted EPS (cumulative 2022, 2023, 2024)1	50%	133p	158p
TSR (vs Industrial / Electronic peer group) 1,2	50%	Median	Upper Quartile
ROCE	Underpin	Set at 20%. If the underpin is not met, the Remuneration Committee will review the formulaic level of vesting and consider whether it would be appropriate to use its discretion to reduce the level of vesting.

1. Straight-line vesting between measurement points.

2. Comprises ABB, Arrow Electronics, Avnet, Bunzl, Datwyler, Essentra, Fastenal, Ferguson, MSC Industrial Supply, Rexel, Rockwell, Schneider, Siemens, TE Connectivity, WESCO International and WW Grainger.

The performance targets are also set out in the corporate governance section of our website ( www.electrocomponents.com/investors/corporate-governance ) and will be disclosed in the Annual Report and Accounts 2022.

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

Ian Haslegrave

Company Secretary

25 June 2021

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

The Company makes the following notifications pursuant to the EU Market Abuse Regulation.

1 .		Details of the person discharging managerial responsibilities / person closely associated
a)		Name		Lindsley Ruth
2.		Reason for the notification
a)		Position/status		Chief Executive Officer
b)		Initial notification /Amendment		Initial notification
3.		Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)		Name		Electrocomponents plc
b)		LEI		549300KVXDURRKVW7R37
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		10 pence ordinary shares
	Identification code		GB0003096442
b)	Nature of the transaction		Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014
c)	Price(s) and volume(s)
					Price(s)	Volume(s)
					Nil	165,945
d)	Aggregated information
	- Aggregated volume		165,945
	- Price		Nil
e)	Date of the transaction		2021-06-24
f)	Place of the transaction		Outside a trading venue

1 .	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Egan
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	Electrocomponents plc
b)	LEI	549300KVXDURRKVW7R37
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	10 pence ordinary shares
	Identification code	GB0003096442
b)	Nature of the transaction	Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	108,402
d)	Aggregated information
	- Aggregated volume	108,402
	- Price	Nil
e)	Date of the transaction	2021-06-24
f)	Place of the transaction	Outside a trading venue

1 .	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mike England
2.	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Electrocomponents plc
b)	LEI	549300KVXDURRKVW7R37
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	10 pence ordinary shares
	Identification code	GB0003096442
b)	Nature of the transaction	Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	51,468
d)	Aggregated information
	- Aggregated volume	51,468
	- Price	Nil
e)	Date of the transaction	2021-06-24
f)	Place of the transaction	Outside a trading venue

 

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