Director/PDMR Shareholding

Softcat PLC

26 November 2024

 

26 November 2024

Softcat plc (the "Company")

Notification of Transactions by

Persons Discharging Managerial Responsibilities

The following notification made under article 19.1 of the Market Abuse Regulation ("MAR") relates to awards of nil-cost options to persons discharging managerial responsibilities ("PDMR") on 25 November 2024 under the Softcat plc Long Term Incentive Plan ("LTIP"). This announcement is made in accordance with Article 19.3 of MAR.

Softcat plc Long Term Incentive Plan

On 25 November 2024, awards under the Company's Long Term Incentive Plan (the "LTIP") were made as outlined below.

An award of nil-cost options to acquire 54,842 Ordinary shares was made to Graham Charlton, a director and PDMR. The number of shares over which the nil-cost option was awarded has been calculated by reference to the closing middle market quotation of the ordinary shares derived from the Daily Official List on the dealing day preceding the date of grant (1,600 pence). The award will vest subject to the performance conditions outlined below.

An award of nil-cost options to acquire 35,728 Ordinary shares was made to Katy Mecklenburgh, a director and PDMR. The number of shares over which the nil-cost option was awarded has been calculated by reference to the closing middle market quotation of the ordinary shares derived from the Daily Official List on the dealing day preceding the date of grant (1,600 pence). The award will vest subject to the performance conditions outlined below.

Performance Conditions and Vesting of Awards

These nil-cost options are subject to the rules of the LTIP and will vest depending on performance against Total Shareholder Return ("TSR") and Earnings per Share ("EPS") targets as measured over a three-year performance period.

40% of the Award will be subject to the Company's relative TSR performance against the FTSE 250 (excluding real estate and investment trusts):

TSR performance                       % of Award vesting

Below median                                       Nil

At median                                             30%

Upper quartile or above                         100%

There will be straight-line vesting between the points as outlined above.

60% of the Award will be subject to the Company's EPS for FY 2027:

EPS                                         % of Award vesting

Less than 65.9 pence                              Nil

65.9 pence                                                        20%

73.6 pence                                            67%

79.7 pence or above                              100%

There will be straight-line vesting between 20% and 67% and between 67% and full vesting.

The normal date of vesting for the nil-cost options outlined above will be 25 November 2027 and the last date for exercise will be 24 November 2034, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP.

For further information on the LTIP, please refer to the Company's Annual Report and Accounts. 

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Graham Charlton
2.	Reason for the notification
a)	Position / status	CEO
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Softcat plc
b)	LEI		213800N42YZLR9GLVC42
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	Ordinary Shares of £0.0005 each ISIN: GB00BYZDVK82
b)	Nature of the transaction	Grant of nil cost option over Ordinary Shares of £0.0005 each under the Softcat plc Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.00 54,842
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	25 November 2024
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Katy Mecklenburgh
2.	Reason for the notification
a)	Position / status	CFO
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Softcat plc
b)	LEI		213800N42YZLR9GLVC42
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	Ordinary Shares of £0.0005 each ISIN: GB00BYZDVK82
b)	Nature of the transaction	Grant of nil cost option over Ordinary Shares of £0.0005 each under the Softcat plc Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.00 35,728
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	25 November 2024
f)	Place of the transaction	Outside a trading venue

Luke Thomas

Company Secretary, Softcat plc

26 November 2024

 

END