Director/PDMR Shareholding

RNS Number : 2430S
Paragon Banking Group PLC
07 July 2020
 

7 July 2020

Paragon Banking Group PLC

Director Shareholding

On 6 July 2020, Paragon Banking Group PLC (the "Company") granted awards over the Company's Ordinary Shares of £1.00 each to the following directors under the Paragon Performance Share Plan 2013 (" PPSP ").

Director

Role

Number of shares awarded under PPSP

N S Terrington

Chief Executive Officer

312,429

R J Woodman

Chief Financial Officer

196,763

 

No consideration was paid for the grant of the awards, which have been structured as nil-cost options. 

The awards will vest subject to the satisfaction of performance conditions, which will be measured over the period of three financial years ending on 30 September 2022. The awards, to the extent they vest, will ordinarily become exercisable following the end of a further holding period when the Company announces its results for the financial year ending 30 September 2024. The awards will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant.

The number of shares subject to each award has been determined by reference to a share price of £3.4496, being the average share price over the five dealing days immediately following the announcement by the Company of its results for the six months ended 31 March 2020. Having regard to recent share price movements, the Remuneration Committee has retained discretion to reduce the extent to which the awards vest if any value in the award when the performance conditions are assessed is considered a "windfall gain" as a result of the use of this price, rather than the price following the announcement by the Company of its results for the financial year ended 30 September 2019.

Enquiries:

Carolyn Sharpe

Senior Assistant Company Secretary

Tel:  07984810427

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nigel Stewart Terrington

2

Reason for the notification

a)

Position/status

Chief Executive Officer (PDMR)

b)

Initial notification/ Amendment

 Initial notification

3

Details of the issuer

a)

Name

Paragon Banking Group PLC

b)

LEI code

 

213800S1TDKIB1IUTS72

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

Identification code

Ordinary shares of £1.00 each in Paragon Banking Group PLC

GB00B2NGPM57

c)

Nature of the transaction

Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP").

d)

Price(s) and volume(s)

 

Price

Volume

£0.00

312,429

 

e)

Aggregated information
- Aggregated volume
- Price

N/A

f)

Date of the transaction

6 July 2020

 

g)

Place of the transaction

Outside a trading venue

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard James Woodman

2

Reason for the notification

a)

Position/status

Chief Financial Officer (PDMR)

b)

Initial notification/ Amendment

 Initial notification

3

Details of the issuer

a)

Name

Paragon Banking Group PLC

b)

LEI code

 

213800S1TDKIB1IUTS72

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

Identification code

Ordinary shares of £1.00 each in Paragon Banking Group PLC

GB00B2NGPM57

b)

Nature of the transaction

Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP").

c)

Price(s) and volume(s)

 

Price

Volume

£0.00

196,763

 

d)

Aggregated information
- Aggregated volume
- Price

N/A

e)

Date of the transaction

6 July 2020

 

f)

Place of the transaction

Outside a trading venue

 


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END
 
 
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