Director/PDMR Shareholding

Spectris PLC

23 April 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") and the Spectris Deferred Bonus Plan("DBP") to persons discharging managerial responsibilities ("PDMRs").

On 23 April 2024, Spectris plc (the "Company") was informed that, Derek Harding and Andrew Heath, the Executive Directors and PDMRs of the Company accepted awards, on the same day, granted by the Company of nominal-cost share options over ordinary 5p shares on 28 March 2024, pursuant to both the terms of the LTIP ("LTIP Awards") and the DBP ("DBP Awards"), as set out below:

Name	Position	Maximum number of shares that may vest under the LTIP Awards granted 1, 2	Number of shares under DBP Award
Derek Harding	Chief Financial Officer	45,214	11,651
Andrew Heath	Chief Executive	63,953	16,376

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.     Derek Harding's and Andrew Heath's 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 and DBP Awards were accepted represents 0.13% of the Company's issued ordinary share capital on 23 April 2024.

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

The vesting of these LTIP Awards is subject to the continued employment of the Executive Directors, malus and clawback provisions and the satisfaction of performance conditions set by the Remuneration Committee of the Company. The LTIP Awards will normally vest on the later of the third anniversary of grant and the determination of the performance conditions. The Executive Directors' LTIP Awards are then subject to an additional two-year vesting period. To the extent that these LTIP Awards vest, they are exercisable for a period of five years from the end of the additional vesting period.

The DBP Awards are not subject to performance conditions.  All DBP Awards are subject to malus and clawback provisions. DBP Awards will normally vest, and become exercisable, on the third anniversary of the date of grant subject to continued employment.

The nominal award price payable by each participant on the exercise of these LTIP Awards and DBP 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)	Derek Harding
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 23 April 2024, pursuant to the terms of the LTIP and DBP.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£0.05	LTIP nominal-cost option under which a maximum of 45,214 ordinary shares may vest.
		£0.05	DBP nominal-cost share option of 11,651 ordinary 5p shares.
d)	Aggregated information	Aggregated Volume		56,865
		Price		£2,843.25
e)	Date of the transaction	23 April 2024
f)	Place of the transaction	Outside a trading venue

1	Details of the persons discharging managerial responsibilities
a)	Name(s)	Andrew Heath
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 23 April 2024, pursuant to the terms of the LTIP and DBP.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£0.05	LTIP nominal-cost option under which a maximum of 63,953 ordinary shares may vest.
		£0.05	DBP nominal-cost share option of 16,376 ordinary 5p shares.
d)	Aggregated information	Aggregated Volume		80,329
		Price		£4,016.45
e)	Date of the transaction	23 April 2024
f)	Place of the transaction	Outside a trading venue

Name of contact and telephone number for queries:

Carlie Sawyer

Group Reward Executive

07585 888 852

For and on behalf of Spectris plc

LEI Number: 213800Z4CO2CZO3M3T10

Date: 23 April 2024

 

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