Grainger plc
("Grainger" or the "Company")
GRAINGER PLC 2017 LONG TERM INCENTIVE PLAN AND GRANT OF OPTIONS TO DIRECTORS
The Company announces that it has made the following grants of nil cost share options ("Options") over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the 2017 Long Term Incentive Plan ("LTIP") on 16 December 2021 (under the LTIP rules as amended and approved by the shareholders at the Company's AGM on 5 February 2020).
Grant of Options
On 16 December 2021, Grainger granted Options over a total of 721,110 Shares to its Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") of the Company (as specified in the table below).
| Director/ PDMR | Position | No. of shares under Option |
| Helen Gordon | Chief Executive Officer | 325,665
|
| Rob Hudson | Chief Financial Officer | 233,045
|
| Michael Keaveney | Director of Land and Development | 81,200
|
| John Blanshard | Director of Operations | 81,200 |
The Options will generally vest and become exercisable three years from the date of grant, subject to continued employment. Vesting of the Options is subject to certain performance conditions, namely the Total Property Return ("TPR") performance, relative Total Shareholder Return ("TSR") and Secured PRS Investment. One third of the Shares under an Option are subject to TSR performance conditions, one third of the Shares under an Option are subject to TPR performance conditions and one third of the Shares under an Option are subject to the Secured PRS Investment performance conditions.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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)
| Names | Helen Gordon | |
| 2
| Reason for the notification | ||
| a)
| Position/status
| Chief Executive Officer, Director | |
| b)
| Initial notification | Initial Notification
| |
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a)
| Name
| Grainger plc | |
| b) | LEI | 2138007CEIRKZMNI2979
| |
| 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
| Ordinary Shares of 5p each in Grainger plc | |
| b) | Identification code
| GB00B04V1276 | |
| c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
| |
| d)
| Price and volumes | Price - Nil Volume: 325,665 Ordinary Shares | |
| d)
| Aggregated information - Aggregated volume - Price |
N/A
| |
| e)
| Date of the transaction | 16 December 2021 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1
| Details of the person discharging managerial responsibilities / person closely associated |
| ||||
| a)
| Names | Rob Hudson |
| |||
| 2
| Reason for the notification |
| ||||
| a)
| Position/status
| Chief Financial Officer, Director |
| |||
| b)
| Initial notification
| Initial Notification |
| |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
| ||||
| a)
| Name
| Grainger plc |
| |||
| b)
| LEI | 2138007CEIRKZMNI2979 |
| |||
| 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
| Ordinary Shares of 5p each in Grainger plc |
| |||
| b) | Identification code
| GB00B04V1276 |
| |||
| c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
|
| |||
| d)
| Price and volumes | Price - Nil Volumes: 233,045 Ordinary Shares |
| |||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
|
| |||
| e)
| Date of the transaction | 16 December 2021 |
| |||
| f) | Place of the transaction | Outside a trading venue |
| |||
| |
| |
| |||
| | | |
| |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated |
| ||||
| a)
| Names | Michael Keaveney |
| |||
| 2
| Reason for the notification |
| ||||
| a)
| Position/status
| Director of Land and Development, PDMR |
| |||
| b)
| Initial notification
| Initial Notification |
| |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
| ||||
| a)
| Name
| Grainger plc |
| |||
| b)
| LEI | 2138007CEIRKZMNI2979 |
| |||
| 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
| Ordinary Shares of 5p each in Grainger plc |
| |||
| b) | Identification code
| GB00B04V1276 |
| |||
| c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
|
| |||
| d)
| Price and volumes | Price - Nil Volumes: 81,200 Ordinary Shares
|
| |||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
|
| |||
| e)
| Date of the transaction | 16 December 2021 |
| |||
| f) | Place of the transaction | Outside a trading venue
|
| |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
| a)
| Names | John Blanshard | ||||
| 2
| Reason for the notification | |||||
| a)
| Position/status
| Director of Operations, PDMR | ||||
| b)
| Initial notification | Initial Notification
| ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Grainger plc | ||||
| b) | LEI | 2138007CEIRKZMNI2979
| ||||
| 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
| Ordinary Shares of 5p each in Grainger plc | ||||
| b) | Identification code
| GB00B04V1276 | ||||
| c)
| Nature of the transaction
| Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied
| ||||
| d)
| Price and volumes | Price - Nil Volume: 81,200 Ordinary Shares | ||||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
| ||||
| e)
| Date of the transaction | 16 December 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
Name of authorised official of issuer responsible for making notification.
Adam McGhin
Group General Counsel and Company Secretary
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.
