15 June 2021
Rotork plc
("Company")
Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
The Company provides notification of the following transaction undertaken outside of a market venue relating to the below named PDMR and his interest in the ordinary shares of the Company ("Shares") (ISIN: GB00BVFNZH21).
The Remuneration Committee has granted an Award in the form of a nil cost option ("NC0") to the PDMR on 14 June 2021, under the Rotork plc Long Term Incentive Plan (2019). Vesting of the Award is contingent on achievement of the performance conditions, on the same terms as Awards made to other members of the Rotork Management Board. The particulars of the PDMR and award are set out in the table below.
| Name and position of PDMR | Number of Shares¹ and type of award granted on 14 June 2021
|
| Stuart Pain, Group General Counsel & Company Secretary | 51,649 NCO |
¹ The number of shares in relation to which the Award was made was based on the average mid-market price of a Rotork share for the five trading days prior to the date of grant (ie 7 to 11 June 2021 inclusive).
The vesting date of the Award has been determined to align with that for the 2021 Awards as set out in the Company's Deed of Grant dated 24 March 2021, being 24 March 2024, subject to continued employment and the Company's achievement against various stretching performance targets measured over the three-year financial period ending 31 December 2023. The performance conditions set by the Remuneration Committee relate to Earnings Per Share, Total Shareholder Return and Economic Profit, with each condition weighted as to one-third of each Award. Further details of the performance conditions and targets, are set out in the Directors' Remuneration Report to the Company's 2020 Annual Report (see www.rotork.com).
The Award is subject to malus and clawback and attracts an accrued dividend equivalent entitlement arising during the vesting period on any vested Shares, with such entitlements to be settled in the form of additional Shares.
The Company can confirm that the above named PDMR has complied with his obligation to notify the Financial Conduct Authority of the above transactions as required under MAR.
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Rotork contact and telephone number for enquiries:
Joy Baldry, Deputy Company Secretary
+44 (0)7789 920457
Notes:
Legal Entity Identifier: 213800AH5RZIHGWRJ718
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