Grainger plc
("Grainger" or the "Company")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Grainger plc announces that pursuant to the Grainger 2017 Long Term Incentive Plan ("LTIP") and the Grainger Deferred Bonus Share Plan ("DBSP"), in respect of the shares that vested on 11 December 2020 and 12 December 2021, Helen Gordon exercised her options on 14 February 2022. In order to fund the resulting tax and national insurance liability arising from the exercise, disposals of ordinary shares (as set out below) took place on 16 February 2022 at a price of £2.901. Grainger was notified of the completion of these disposals on 17 February 2022.
The net vested shares in relation to the LTIP share awards are set out below (based on the performance conditions and assessment as set out in the Annual Report and Accounts of the relevant years together with the dividend equivalent shares). The net vested shares are subject to a 2-year holding period from the date of vesting in accordance with the Remuneration Policy.
| Executive Director | Award Plan | Original number of options awarded | Number of ordinary shares vested (including dividend shares)
| Number of shares sold to cover the tax and national insurance liability arising from vesting
| Net vested shares subject to a 2- year holding period from the date of vesting (in respect of the LTIP awards)
|
| Helen Gordon
| Grainger 2017 LTIP
| 316,297 | 230,875 | 109,707 | 121,168 |
| Helen Gordon
| Grainger 2018 LTIP
| 374,640 | 191,362 | 90,932 | 100,430 |
| Helen Gordon | Grainger 2017 DBSP
| 37,681 | 39,934 | 18,976 | 20,958 |
| Helen Gordon
| Grainger 2018 DBSP
| 55,256 | 58,689 | 27,888 | 30,801 |
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide 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 | Sale of shares vested under the 2017 LTIP and DBSP option plans in order to cover the tax liability arising on exercise. | |
| d)
| Price and volumes | Price: £2.901 Volumes: 247,503 Ordinary Shares
| |
| d)
| Aggregated information - Aggregated volume - Price |
N/A | |
| e)
| Date of the transaction | 16 February 2022 | |
| f) | Place of the transaction | London Stock Exchange
| |
Name of authorised official of issuer responsible for making notification.
Adam McGhin
Group General Counsel and Company Secretary
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