Director/PDMR Shareholding

RNS Number : 2788X

Savills PLC

24 April 2023

 

SAVILLS PLC (THE "COMPANY")

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

Vesting of Share Awards

On 21 April 2023, ordinary shares of the Company have been allotted to Directors and PDMRs of the Company as follows in satisfaction of the partial vesting of Awards made on 16 April 2018 under The Savills plc Performance Share Plan (the "Performance Share Plan"):-

Director / PDMR	Number of Shares Transferred	Number of Shares Disposed	Shareholding following this notification	Shareholding as a % of issued share capital
Mark Ridley (Director)	11,173	11,173	231,854	0.16
Simon Shaw (Director)	11,758	11,758	182,579	0.13
Chris Lee (PDMR)	5,985	5,985	119,000	0.08

The share price on disposal of all shares was £9.766 per share.

The balance of the Awards made on 16 April 2018 have lapsed.

Grant of Share Awards

The Company announces that on 21 April 2023 awards have been made under to Directors and PDMRs of the Company as follows under the Performance Share Plan:

Director / PDMR	Number of Shares subject to the Performance Share Plan awarded to the Director / PDMR on 21 April 2023	Total number of shares subject to the Performance Share Plan following this notification
Mark Ridley (Director)	65,336	234,751
Simon Shaw (Director)	50,000	179,497
Chris Lee (PDMR)	25,288	91,116

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 2025:

(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 or more 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 over the period is 4% p.a., compound rising to 100% (i.e. maximum) if the Company's EPS growth over the period is 10% p.a., compound or more 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 at least 12% p.a., rising to 100% (i.e. maximum) if the Company's ROCE is 22% p.a. or more; and with straight-line vesting between the two points.

The Company announces that on 21 April 2023 the grant of the share based element of 2022 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 21 April 2023
Mark Ridley (Director)	108,981
Simon Shaw (Director)	83,876
Alex Jeffrey (PDMR)	40,966
Chris Lee (PDMR)	16,806
Raymond Lee (PDMR)	32,432
David Lipson (PDMR)	9,309
Christian Mancini (PDMR)	27,037
Mitchell Rudin (PDMR)	9,309
James Sparrow (PDMR)	73,529

The Company announces that on 21 April 2023 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 21 April 2023
Alex Jeffrey	36,764

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 2023 to 2025.

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 21 April 2023 the grant of an award has been made under The Schedule to The Savills Deferred Share Plan to a PDMR 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 21 April 2023
David Lipson (PDMR)	42,318

20% of Mr Lipson's award will vest on each of the five anniversaries subsequent to the date of grant subject to continued employment. The award is 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)	308,398
Simon Shaw (Director)	232,772
Alex Jeffrey (PDMR)	387,042
Chris Lee (PDMR)	78,650
Raymond Lee (PDMR)	130,574
David Lipson (PDMR)	187,304
Christian Mancini (PDMR)	146,408
Mitchell Rudin (PDMR)	194,919
James Sparrow (PDMR)	165,149

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.  Chairman and CEO - 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 Performance Share Plan and sale of resultant shares 2)  Grant of awards over Ordinary Shares in accordance with the Company's Performance Share Plan 3)  Grant of awards over Ordinary Shares in accordance with the Company's Deferred Share Bonus Plan and Deferred Share Plan
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		1) Acquisition £0.025 per share Disposal £9.766 per share	1.  11,173 2.  11,758 3.  n/a 4.  5,985 5.  n/a 6.  n/a 7.  n/a 8.  n/a 9.  n/a 1.  11,173 2.  11,758 3.  n/a 4.  5,985 5.  n/a 6.  n/a 7.  n/a 8.  n/a 9.  n/a
		2) £nil per share	1.  65,336 2.  50,000 3.  n/a 4.  25,288 5.  n/a 6.  n/a 7.  n/a 8.  n/a 9.  n/a
		3) £nil per share	1.  108,981 2.  83,876 3.  77,730 4.  16,806 5.  32,432 6.  51,627 7.  27,037 8.  9,309 9.  73,529
(e)	Aggregated information -  Aggregated volume -  Price	N/A
(f)	Date of the transaction	21 April 2023
(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

24 April 2023  

 

END

 

 

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