ELECTROCOMPONENTS PLC
(the "Company")
Notification of transactions by Persons Discharging Managerial Responsibilities
The Company announces that a grant of awards over the Company ordinary shares of 10 pence each in the Company was made on 24 June 2021 under the Electrocomponents Long Term Incentive Scheme 2014 ('LTIP').
As disclosed in the Annual Report and Accounts for the year ending 31 March 2021, in light of the ongoing market and trading uncertainty, the Adjusted EPS targets for this award had not been finalised by the Remuneration Committee as at the date of the Annual Report and Accounts and were therefore not included in that report.
The performance targets for this award have now been confirmed. Vesting of these awards will be determined in accordance with the following performance targets measured over the three financial years to 31 March 2024:
| Measure | Weight | Threshold (25% vesting) | Maximum (100% vesting) |
| Adjusted EPS (cumulative 2022, 2023, 2024)1 | 50% | 133p | 158p |
| TSR (vs Industrial / Electronic peer group) 1,2 | 50% | Median | Upper Quartile |
| ROCE | Underpin | Set at 20%. If the underpin is not met, the Remuneration Committee will review the formulaic level of vesting and consider whether it would be appropriate to use its discretion to reduce the level of vesting. | |
1. Straight-line vesting between measurement points.
2. Comprises ABB, Arrow Electronics, Avnet, Bunzl, Datwyler, Essentra, Fastenal, Ferguson, MSC Industrial Supply, Rexel, Rockwell, Schneider, Siemens, TE Connectivity, WESCO International and WW Grainger.
The performance targets are also set out in the corporate governance section of our website (www.electrocomponents.com/investors/corporate-governance) and will be disclosed in the Annual Report and Accounts 2022.
The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
Ian Haslegrave
Company Secretary
25 June 2021
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
The Company makes the following notifications pursuant to the EU Market Abuse Regulation.
| 1 .
| Details of the person discharging managerial responsibilities / person closely associated
| ||||||
| a)
| Name
| Lindsley Ruth | |||||
| 2.
| Reason for the notification
| ||||||
| a)
| Position/status
| Chief Executive Officer | |||||
| b)
| Initial notification /Amendment
| Initial notification | |||||
| 3.
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||||
| a)
| Name
| Electrocomponents plc | |||||
| b)
| LEI
| 549300KVXDURRKVW7R37 | |||||
| 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 | 10 pence ordinary shares
| |||||
| | | ||||||
| Identification code | GB0003096442 | ||||||
| | | ||||||
| b)
| Nature of the transaction
| Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014 | |||||
| c)
| Price(s) and volume(s) | | | | | ||
| | | Price(s) | Volume(s) | | |||
| | | Nil | 165,945 | | |||
| | | | | | |||
| d)
| Aggregated information | | |||||
| | | ||||||
| - Aggregated volume | 165,945 | ||||||
| | | ||||||
| - Price | Nil | ||||||
| | | ||||||
| e)
| Date of the transaction
| 2021-06-24 | |||||
| f)
| Place of the transaction
| Outside a trading venue | |||||
| 1 .
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| David Egan | |||
| 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
| Electrocomponents plc | |||
| b)
| LEI
| 549300KVXDURRKVW7R37 | |||
| 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 | 10 pence ordinary shares
| |||
| | | ||||
| Identification code | GB0003096442 | ||||
| | | ||||
| b)
| Nature of the transaction
| Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014 | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil | 108,402 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 108,402 | ||||
| | | ||||
| - Price | Nil | ||||
| | | ||||
| e)
| Date of the transaction
| 2021-06-24 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1 .
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Mike England | |||
| 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
| Electrocomponents plc | |||
| b)
| LEI
| 549300KVXDURRKVW7R37 | |||
| 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 | 10 pence ordinary shares
| |||
| | | ||||
| Identification code | GB0003096442 | ||||
| | | ||||
| b)
| Nature of the transaction
| Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014 | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil | 51,468 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 51,468 | ||||
| | | ||||
| - Price | Nil | ||||
| | | ||||
| e)
| Date of the transaction
| 2021-06-24 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
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