12 October 2021
DFS Furniture plc
("the Company")
Grant of 2021 Awards under the Long-Term Incentive Plan (the "LTIP")
DFS Furniture Company announces the following transaction by persons discharging managerial responsibility ("PDMR") in ordinary shares of the Company with a nominal value of £0.10 ("Shares") took place on 11 October 2021.
The Executive Directors of DFS Furniture plc have been granted conditional shares in DFS, as part of the Company's Long-Term Incentive Plan. Under the terms of the LTIP, the quantum of the 2021 LTIP Options awarded was 150% of the equivalent salary of Tim Stacey, CEO, and 120% of the equivalent salary of Mike Schmidt and the 2021 LTIP Options were granted at an award price of £2.62. Under the terms of the new directors' remuneration policy to be put to a shareholder vote at the 2021 Annual General Meeting, the 2021 LTIP Options awarded shall be increased to 175% and 140% respectively. A further LTIP award in respect of the difference shall be made following approval of the shareholder resolution based on the share price prevailing at that time. The same performance measures shall apply to both 2021 LTIP Option awards.
No consideration was payable for the grant of the awards. Conditional share awards granted under the LTIP will vest after a three-year performance period, subject to achievement of the performance measures. The performance measures are based on Adjusted Earnings Per Share ("EPS") and Relative Total Shareholder Return ("TSR").
Details of the conditional share awards under the LTIP are as follows:
| Name | Status | Number of conditional shares awarded |
| Tim Stacey | Director | 251,908 |
| Mike Schmidt | Director | 151,145 |
Enquiries:
| DFS: | TULCHAN |
| Liz McDonald (Group Company Secretary) Philip Hutchinson | James Macey-White |
| | Jessica Reid
|
| dfs@tulchangroup.com | |
| | |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | . A. Tim Stacey . B. Mike Schmidt
|
| 2 | Reason for the notification | |
| a) | Position/status | . A. Chief Executive Officer . B. 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 | DFS Furniture plc |
| b) | LEI | 213800GDSOBNKS1U1P93
|
| 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 | Grant of options to acquire DFS Furniture plc £0.10 ordinary shares
ISIN: GB00BTC0LB89
|
| b) | Nature of the transaction
| Granting of nil cost share options under the DFS Furniture plc 2015 Long Term Incentive Plan |
| c) | Price(s) and volume(s)
| A. N/A 251,908 B. N/A 151,145
|
| d) | Aggregated information - Aggregated volume - Price | / A. 251,908 N/A B. 151,145 N/A |
| e) | Date of the transaction | 11 October 2021 |
| f) | Place of the transaction | London |
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