12 May 2023
Drax Group plc
("Drax" or "the Company")
Symbol: DRX
Notification of Transactions of Directors,
Persons Discharging Managerial Responsibility or Connected Persons
Vesting of Long-Term Incentive Plan Shares
On 9 May 2023, shares in Drax Group plc were issued to Persons Discharging Managerial Responsibility ("PDMRs") as set forth in the table below.
The issuance was an automatic vesting on conclusion of a three-year vesting period of awards originally granted on 7 May 2020 under the Drax Group plc Long-Term Incentive Plan 2020 (the "LTIP 2020").
The Company was notified on 10 May 2023 that each PDMR sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares at 606.6594 pence per share. Each of the PDMRs retained the balance of the shares as noted below.
| Director/PDMR | Total LTIP 2020 award vesting | Number of shares sold to meet the tax liability | Net shares retained | Total number of shares held in the Company |
| Will Gardiner | 626,259 | 295,080 | 331,179 | 1,074,050 |
| Andy Skelton | 357,043 | 168,231 | 188,812 | 453,633 |
| Penelope Small | 156,563 | 73,778 | 82,785 | 116,263 |
| Paul Sheffield | 157,795 | 74,358 | 83,437 | 112,358 |
| Matt White | 58,434 | 19,540 | 38,894 | 38,894 |
The information below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
| Details of PDMR / person closely associated with them ("PCA") | |||||||
| Name | Will Gardiner | ||||||
| Reason for the notification | |||||||
| Position / status | Group Chief Executive | ||||||
| Initial notification / amendment | Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| Name | Drax Group plc | ||||||
| LEI | 549300YPSNTXR4ZHSR98 | ||||||
| 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 | |||||||
| Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
| Nature of the transaction | Automatic vesting of the LTIP 2020 award and sale of sufficient shares to cover taxes due. | ||||||
| Price(s) and volume(s) |
| ||||||
| Aggregated information - Aggregated volume - Price |
n/a | ||||||
| Date of the transaction | 10 May 2023 | ||||||
| Place of the transaction | XLON | ||||||
| Details of PDMR / person closely associated with them ("PCA") | |||||||
| Name | Andy Skelton | ||||||
| Reason for the notification | |||||||
| Position / status | Chief Financial Officer | ||||||
| Initial notification / amendment | Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| Name | Drax Group plc | ||||||
| LEI | 549300YPSNTXR4ZHSR98 | ||||||
| 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 | |||||||
| Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
| Nature of the transaction | Automatic vesting of the LTIP 2020 award and sale of sufficient shares to cover taxes due. | ||||||
| Price(s) and volume(s) |
| ||||||
| Aggregated information - Aggregated volume - Price |
n/a | ||||||
| Date of the transaction | 10 May 2023 | ||||||
| Place of the transaction | XLON | ||||||
| Details of PDMR / person closely associated with them ("PCA") | |||||||
| Name | Penelope Small | ||||||
| Reason for the notification | |||||||
| Position / status | Group Generation Director | ||||||
| Initial notification / amendment | Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| Name | Drax Group plc | ||||||
| LEI | 549300YPSNTXR4ZHSR98 | ||||||
| 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 | |||||||
| Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
| Nature of the transaction | Automatic vesting of the LTIP 2020 award and sale of sufficient shares to cover taxes due. | ||||||
| Price(s) and volume(s) |
| ||||||
| Aggregated information - Aggregated volume - Price |
n/a | ||||||
| Date of the transaction | 10 May 2023 | ||||||
| Place of the transaction | XLON | ||||||
| Details of PDMR / person closely associated with them ("PCA") | |||||||
| Name | Paul Sheffield | ||||||
| Reason for the notification | |||||||
| Position / status | Chief Commercial Officer | ||||||
| Initial notification / amendment | Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| Name | Drax Group plc | ||||||
| LEI | 549300YPSNTXR4ZHSR98 | ||||||
| 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 | |||||||
| Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
| Nature of the transaction | Automatic vesting of the LTIP 2020 award and sale of sufficient shares to cover taxes due. | ||||||
| Price(s) and volume(s) |
| ||||||
| Aggregated information - Aggregated volume - Price |
n/a | ||||||
| Date of the transaction | 10 May 2023 | ||||||
| Place of the transaction | XLON | ||||||
| Details of PDMR / person closely associated with them ("PCA") | |||||||
| Name | Matt White | ||||||
| Reason for the notification | |||||||
| Position / status | Executive Vice President | ||||||
| Initial notification / amendment | Initial Notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| Name | Drax Group plc | ||||||
| LEI | 549300YPSNTXR4ZHSR98 | ||||||
| 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 | |||||||
| Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
| Nature of the transaction | Automatic vesting of the LTIP 2020 award and sale of sufficient shares to cover taxes due. | ||||||
| Price(s) and volume(s) |
| ||||||
| Aggregated information - Aggregated volume - Price |
n/a | ||||||
| Date of the transaction | 10 May 2023 | ||||||
| Place of the transaction | XLON | ||||||
--ENDS--
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