Director/PDMR Shareholding

RNS Number : 9639I

Savills PLC

21 April 2022

 

SAVILLS PLC (THE "COMPANY")

TRANSACTION IN SHARES BY DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMRS)

Vesting of Share Awards

Awards over ordinary shares of the Company under the Company's Deferred Share Plans have become unconditional in all respects following the end of their Deferred Period.  In satisfaction of the Awards, the Trustees of the Group's Employee Benefit Trusts effected the transfer of shares, following the settlement of associated tax liabilities through the sale of shares, to Directors and PDMRs of the Company as follows:-

Director/ PDMR	Number of Shares Transferred	Number of Shares Disposed	Shareholding following this notification	Shareholding as a % of issued share capital
Mark Ridley (Director)	41,688	20,155	231,854	0.16%
Simon Shaw (Director)	62,189	62,189	182,579	0.13%
Chris Lee (PDMR)	13,285	6,423	119,000	0.08%
David Lipson (PDMR)	23,132	11,593	65,661	0.05%
Christian Mancini (PDMR)	10,445	-	147,685	0.10%
Mitchell Rudin (PDMR)	60,618	30,644	89,388	0.06%
James Sparrow (PDMR)	30,707	14,847	72,160	0.05%

The share price on disposal of all shares was £10.803843 per share.

Grant of Share Awards

The Company announces that on 20 April 2022 the grant of the share based element of 2021 profit share awards has been made under the Savills Deferred Share Bonus Plan to Directors and PDMRs as follows:-

Director/ PDMR	Number of shares subject to the Savills Deferred Share Bonus Plan awarded to the Director/ PDMR on 20 April 2022
Mark Ridley (Director)	90,045
Simon Shaw (Director)	67,328
Alex Jeffrey (PDMR)	99,473
Chris Lee (PDMR)	37,442
Raymond Lee (PDMR)	64,159
Christian Mancini (PDMR)	16,621
Mitchell Rudin (PDMR)	19,945
James Sparrow (PDMR)	36,529

The Company announces that on 20 April 2022 the grant of an award has been made under the Savills Deferred Share Plan to a PDMR as follows:-

PDMR	Number of shares subject to the Savills Deferred Share Plan awarded to the PDMR on 20 April 2022
Alex Jeffrey	45,662

Vesting on a sliding scale is dependent upon the satisfaction of performance criteria relating to the financial performance of Savills Investment Management, including the performance of funds managed by Savills Investment Management, over the period 2022 to 2024.

All the above awards have a Deferred Period of three years and are subject to rolled-up dividend shares whereby the number of shares awarded will be increased on the vesting date to reflect final and interim dividends declared during the Deferred Period.

The Company announces that on 20 April 2022 the grant of share awards under The Schedule to The Savills Deferred Share Plan to PDMRs based in the United States of America as follows:-

PDMR	Number of shares subject to the Savills Deferred Share Plan awarded to the PDMR on 20 April 2022
David Lipson (PDMR)	66,485
Mitchell Rudin (PDMR)	66,485

20% of Mr Lipson's award will vest on each of the five anniversaries subsequent to the date of grant subject to continued employment. 50% of Mr Rudin's award will vest from 31 December 2022 and 50% from 31 December 2023 subject to continued employment and performance.  Both awards are subject to rolled-up dividend shares whereby the number of shares awarded will be increased on the vesting dates to reflect final and interim dividends declared during the Deferred Periods.

Resulting beneficial interests under the Savills Deferred Share Bonus Plan and Savills Deferred Share Plan further to the above notifications are as follows:

Director/ PDMR	Resulting beneficial interest under the Savills Deferred Share Bonus Plan and Savills Deferred Share Plan
Mark Ridley (Director)	199,417
Simon Shaw (Director)	148,896
Alex Jeffrey (PDMR)	347,459
Chris Lee (PDMR)	61,844
Raymond Lee (PDMR)	98,142
David Lipson (PDMR)	101,170
Christian Mancini (PDMR)	119,371
Mitchell Rudin (PDMR)	110,782
James Sparrow (PDMR)	91,620

The Company announces that on 20 April 2022 awards have been made under The Savills plc Performance Share Plan (the "Performance Share Plan") to Directors and PDMRs of the Company as follows:

Director / PDMR	Number of Shares subject to the Performance Share Plan awarded to the Director / PDMR on 20 April 2022	Total number of shares subject to the Performance Share Plan following this notification
Mark Ridley (Director)	56,803	266,276
Simon Shaw (Director)	43,397	211,999
Chris Lee (PDMR)	22,006	102,780

The Performance Share Plan provides for the award of nil cost options or conditional awards of ordinary shares in the Company.

Awards of shares are made subject to a three-year performance period.  Awards which satisfy the applicable performance criteria (as below) in the three-year performance period will then vest after an additional two-year holding period.

Awards vest subject to the satisfaction of the following performance criteria measured over the three years to 31 December 2024:

(a) one-third of the initial value of an award is subject to the Company's Total Shareholder Return ('TSR') performance measured against the TSR of the FTSE Mid 250 Index (excluding investment trusts);

(b) a further one-third of the initial value of an award is subject to Group Earnings per Share ('EPS') performance; and

(c) the final one-third of the initial value of an award is subject to the three year average Return on Capital Employed ('ROCE') of the Company.

Awards vest as follows:

(a) for the TSR linked part of an award, 25% (i.e. threshold) will vest if the Company's TSR matches Index performance, rising to 100% (i.e. maximum) if the Company's TSR outperforms the Index by 8% p.a., compound with sliding scale vesting between the two points;

(b) for the EPS growth linked part of an award, 25% (i.e. threshold) will vest if the Company's EPS growth is 6% p.a., compound rising to 100% (i.e. maximum) if the Company's EPS growth is 12% p.a., compound with sliding scale vesting between the two points; and

(c) for the ROCE linked part of an award, 25% (i.e. threshold) will vest if the Company's ROCE is 15% p.a., rising to 100% (i.e. maximum) if the Company's ROCE is 25% p.a. or more; and with straight-line vesting between the two points.

The information set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation No 596/2014.

1.	Details of the Director/ PDMR
(a)	Name	1.  Mark Ridley 2.  Simon Shaw 3.  Alex Jeffrey 4.  Chris Lee 5.  Raymond Lee 6.  David Lipson 7.  Christian Mancini 8.  Mitchell Rudin 9.  James Sparrow
2.	Reason for the notification
(a)	Position/ status	1.  Group Chief Executive/ Director 2.  Group Chief Financial Officer/ Director 3.  Chief Executive Officer - Savills Investment Management/ PDMR 4.  Group Legal Director and Company Secretary/ PDMR 5.  Chief Executive - Hong Kong, Macau and Greater China/ PDMR 6.  President - Savills North America/ PDMR 7.  Chief Executive Officer Asia Pacific (ex-Greater China)/ PDMR 8.  President, Savills North America/ PDMR 9.  CEO, Savills UK & EMEA/ PDMR
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Savills plc
(b)	LEI	213800WXICGMBWHTA933
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	Savills plc Ordinary Shares of 2.5p each
(b)	Identification code of the Financial Instrument	GB00B135BJ46
(c)	Nature of the transaction	1)  Vesting of awards under the Company's Deferred Share Plans and sale of resultant shares 2)  Grant of awards over Ordinary Shares in accordance with the Company's Deferred Share Bonus Plan and Deferred Share Plan 3)  Grant of awards over Ordinary Shares in accordance with the Company's Performance Share Plan
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		1) Acquisition £nil per share Disposal £10.803843 per share	1.  41,688 2.  62,189 3.  n/a 4.  13,285 5.  n/a 6.  23,132 7.  10,445 8.  60,618 9.  30,707 1.  20,155 2.  62,189 3.  n/a 4.  6,423 5.  n/a 6.  11,593 7.  n/a 8.  30,644 9.  14,847
		2) £nil per share	1.  90,045 2.  67,328 3.  145,135 4.  37,442 5.  64,159 6.  66,485 7.  16,621 8.  86,430 9.  36,529
		3) £nil per share	1.  56,803 2.  43,397 3.  n/a 4.  22,006 5.  n/a 6.  n/a 7.  n/a 8.  n/a 9.  n/a
(e)	Aggregated information -  Aggregated volume -  Price	N/A
(f)	Date of the transaction	20 April 2022
(g)	Place of the transaction	Outside a trading venue

Name of contact and telephone number for queries:

Chris Lee

Group Legal Director & Company Secretary

020 3107 5444

21 April 2022  

 

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