Grant of Share Options

THG PLC

07 March 2024

 

7 March 2024

THG PLC

("THG" or the "Company")

Grant of Share Options

The Company announces that on 7 March 2024 it made awards of nil cost options over ordinary voting shares of £0.005 each in the Company ("Awards" and "Shares") to certain directors and persons discharging managerial responsibility ("PDMRs") of the Company, under the rules of the THG PLC 2022 Long Term Incentive Plan (the "Plan").

The Awards have been granted over the number of Shares shown below. The Awards will vest on the third anniversary of the date of grant, subject to the rules of the Plan and the achievement of stretching performance targets as summarised below.

The details of the Awards are as follows:

PDMR	Title	Number of Shares subject to Award
Damian Sanders	Chief Financial Officer	1,939,788
John Gallemore	Chief Operating Officer	1,745,810

A summary of the performance targets is below:

Measure	Target details
Relative TSR vs FTSE 250 Index (80% weighting)	Threshold (25% vesting): median Maximum (100% vesting): upper quartile Straight-line vesting between these points
Achievement of our ESG strategy (20% weighting)	By end of 2026, THG operational sites to achieve Zero Waste TRUE Gold Certification

In addition, the Company shortly intends to  make an application for 30,629,135 Shares to be admitted to trading on the London Stock Exchange and to be admitted to the Financial Conduct Authority's Official List.  These Shares will be issued to VG Corporate Trustee Limited, acting as trustee of the THG Employee Benefit Trust.  Consistent with the Company's strong track record of incentivising employees, and in order to continue to attract and retain world-class talent, these Shares will be used to make awards to certain key employees below Executive level, which will be subject to the achievement of various targets.  Subject to the satisfaction of such targets, a third of these Shares are expected to vest on each of 31 December 2024, 2025 and 2026.  A separate announcement will follow in due course once such application has been made.

The Company makes the below announcement and notification in accordance with the requirements of the UK Market Abuse Regulation.

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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Damian Sanders
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	THG PLC
b)	LEI	21380066N3SV9O8IDP37
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	Ordinary shares of £0.005 each ISIN Code: GB00BMTV7393
b)	Nature of the transaction	Grant of a nil-cost option under the THG PLC 2022 Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 1,939,788
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction
e)	Date of the transaction	7 March 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Gallemore
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	THG PLC
b)	LEI	21380066N3SV9O8IDP37
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	Ordinary shares of £0.005 each ISIN Code: GB00BMTV7393
b)	Nature of the transaction	Grant of a nil-cost option under the THG PLC 2022 Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 1,745,810
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction
e)	Date of the transaction	7 March 2024
f)	Place of the transaction	Outside a trading venue

Enquiries to:

James Pochin, General Counsel and Company Secretary

THG PLC

[e-mail]

 

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