13 December 2021
National Grid plc ('National Grid' or 'Company')
Notification of Transaction of Person Discharging Managerial Responsibilities ('PDMR')
This announcement is made in accordance with Article 19 of the Market Abuse Regulation ('MAR') and relates to the following PDMR being granted an award under the Company's Retention Award Plan ('RAP').
The RAP Award (the Award) will vest in two tranches on or after 1 March 2023 and 1 March 2024 respectively. The Award is conditional on continued employment and on the satisfaction of the performance conditions approved by the Remuneration Committee. This award is subject to clawback and malus provisions.
In accordance with MAR the relevant Financial Conduct Authority ('FCA') notification is set out below.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Ben Wilson | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Strategy and External Affairs Officer | ||||
| b)
| Initial notification /Amendment
| Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| National Grid plc | ||||
| b) | LEI | 8R95QZMKZLJX5Q2XR704 | ||||
| 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 12 204/473p each
GB00BDR05C01
| ||||
| b)
| Nature of the transaction
| Acquisition of a conditional award over securities, for nil consideration, under the RAP. This award is a buy-out incentive in respect of incentive arrangements put in place by Mr Wilson's previous employer that were forfeited upon joining National Grid. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2021.12.10 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
