Director/PDMR Shareholding

Spectris PLC

10 September 2024

 

Spectris plc: Director/PDMR Shareholding

This notification is made under Article 19(1) of the EU Market Abuse Regulation 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and relates to the grant of share awards under the terms of the Spectris Long Term Incentive Plan ("LTIP") to persons discharging managerial responsibilities ("PDMRs").

On 10 September 2024, Spectris plc (the "Company") was informed that, Angela Noon, Executive Director and PDMR of the Company accepted awards, on the same day, granted by the Company of nominal-cost share options over ordinary 5p shares on 6 September 2024, pursuant to the terms of the LTIP ("LTIP Awards"), as set out below:

Name and Position	Vesting Date	Maximum number of shares that may vest under the LTIP Awards granted	Performance conditions (Yes / No)
Angela Noon, Chief Financial Officer	06 September 2029	41,5781, 2	Yes
	Buy-out Awards for incentives forfeited on cessation of previous employment
	01 September 2025	13,546	Yes
	31 July 2026	13,688	Yes
	28 July 2025	281	No
	06 September 2027	5,813	No
	TOTAL	74,906

1.     Includes 1.4X multiplier. More details on the performance conditions attached to these LTIP Awards and the multiplier can be found in the Company's 2023 Remuneration Policy.

2.     Angela Noon's 2024 LTIP nominal-cost options are linked to a grant of market-value share options ("Linked Options"). Linked Options are granted up to the £60,000 limit under the HMRC's Company Share Option Plan. For the avoidance of doubt, no additional gross value can be delivered from the exercise of these Linked Options under the terms of the LTIP.

The total number of ordinary shares over which these LTIP Awards were accepted represents 0.07% of the Company's issued ordinary share capital on 10 September 2024.

No consideration was paid for the grant of the LTIP Awards.

The first award in the above table represents the 2024 LTIP Award. The vesting of this 2024 LTIP Award is subject to the continued employment of the Executive Director, malus and clawback provisions and the satisfaction of performance conditions set by the Remuneration Committee of the Company. This 2024 LTIP Award will normally vest on the later of the third anniversary of grant and the determination of the performance conditions. The Executive Director's 2024 LTIP Award is then subject to an additional two-year vesting period. To the extent that the 2024 LTIP Award vests, it is exercisable for a period of five years from the end of the additional vesting period.

The other LTIP Awards in the table represent buy-out awards ("LTIP Buy-out Awards") for share awards and bonuses which Angela Noon forfeited from her previous employment.  The table summarises the respective vesting dates and whether any performance conditions are attached to these LTIP Buy-out Awards.   

The vesting of these LTIP Buy-out Awards are subject to the continued employment of the Executive Director, malus and clawback provisions and, where applicable, the satisfaction of relevant performance conditions set by the Remuneration Committee of the Company. The LTIP Buy-out Awards shown as having performance conditions attached will be subject to an additional two-year holding period after the respective vesting dates.

The nominal award price payable by each participant on the exercise of these LTIP Awards is 5 pence per share.

The information set out below is provided in accordance with the requirements of Article 19(3) of MAR and provides further detail:

1	Details of the persons discharging managerial responsibilities
a)	Name(s)	Angela Noon
2	Reason for the notification
a)	Position/status	Director and PDMR
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Spectris plc
b)	LEI	213800Z4CO2CZO3M3T10
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 Identification code	Option granted over ordinary shares of 5p each GB0003308607
b)	Nature of the transaction	Acceptance of a grant of a share option over ordinary shares of 5p each on 10 September 2024, pursuant to the terms of the LTIP.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£0.05	LTIP nominal-cost option under which a maximum of 74,906 ordinary shares may vest.
d)	Aggregated information	Aggregated Volume		74,906
		Price		£3,745.30
e)	Date of the transaction	10 September 2024
f)	Place of the transaction	Outside a trading venue

Name of contact and telephone number for queries:

Guy Holden

Group Reward and Share Plan Manager

07585 403 180

For and on behalf of Spectris plc

LEI Number: 213800Z4CO2CZO3M3T10

Date: 10 September 2024

 

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