Director/PDMR Shareholding

Taylor Wimpey PLC

28 April 2023

 

28 April 2023

Taylor Wimpey plc

Director / PDMR Shareholding

This information set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

The Directors named below have been granted a conditional nil cost share award under the Taylor Wimpey Performance Share Plan.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.   Jennie Daly 2.   Chris Carney
2	Reason for the notification
a)	Position/status	1.   Chief Executive 2.   Group Finance Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Taylor Wimpey plc
b)	LEI	21380089BTRXTD8S3R66
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 1 pence each GB0008782301
b)	Nature of the transaction	Conditional nil cost performance share awards made under the 2017 Taylor Wimpey Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) 124.25 pence. The number of shares awarded was calculated using the above, which is the average of the closing MMQ over the three business days prior to the date of these Awards on 28 April 2023 1.   1,207,243 2.   812,394
d)	Aggregated information - Aggregated volume - Price	2,019,637 124.25 pence
e)	Date of the transaction	28 April 2023
f)	Place of the transaction	London Stock Exchange (XLON)

The performance conditions relating to the awards are as follows:

Performance Measure	Weighting	Threshold	Maximum
Total Shareholder Return over three financial years to 31 December 2025	40%	Median	Upper Quartile
Operating Profit Margin in 2025	15%	13%	18%
RONOA in 2025	15%	14%	19%
Customer Service 9-month in 2025	15%	78.5%	81.5%
Carbon Reduction in 2025 (from a 2019 baseline)	15%	34%	38%

Recognising the outlook over the performance period for lower profitability across the entire housing sector and continuing economic uncertainty, the Remuneration Committee has set the target ranges for Operating Profit Margin and RONOA at lower levels and with a broader range between threshold and maximum than in previous years, to provide the appropriate balance between setting targets that are achievable, but at the same time stretching.

The target ranges for all measures are, in the view of the Remuneration Committee, equivalently challenging to the ranges set in prior years.

-Ends-

For further information please contact:

Taylor Wimpey plc                                                               

Ishaq Kayani, Group General Counsel & Company Secretary         Tel: [phone]

 

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