British Land Co PLC

Remuneration Information • Jun 23, 2020

National Storage Mechanism | Additional information

RNS Number : 7876Q

British Land Co PLC

23 June 2020

Long-Term Incentive Plan ('LTIP') Grant and Restricted Share Plan ('RSP') Award

The British Land Company PLC (the 'Company') announces that on 22 June 2020:

·    under the LTIP, conditional awards of the Company's ordinary shares of 25 pence each ('Performance Shares') were granted to Executive Directors and other Persons Discharging Managerial Responsibilities ('PDMRs'); and

·    under the RSP, conditional awards ('Restricted Shares') of the Company's ordinary shares of 25 pence each were awarded to PDMRs

as outlined below.

The Remuneration Committee exercised discretion and reduced the LTIP grant size by 10% to reflect the current share price relative to the share price in recent years.  This reduction resulted in the Executive Directors receiving an LTIP award of 225% of salary, reduced from 250% of salary.

	Performance Shares at nil consideration
Directors
Chris Grigg	476,807
Simon Carter	272,812
	Performance Shares at nil consideration	Restricted Shares
PDMRs
Emma Cariaga	52,512	23,338
Stacey Clark	30,362	13,494
Ann Henshaw	49,648	22,065
Sally Jones	73,457	32,647
David Lockyer	52,512	23,338
Brona McKeown	53,563	23,805
Roger Madelin	54,634	24,282
Darren Richards	73,457	32,647
Nigel Webb	57,366	25,496

The above Performance Shares conditionally vest on the third anniversary of grant, subject to performance conditions.  Those conditions are based 40% on Total Property Return, 20% on Total Accounting Return and 40% on Total Shareholder Return (20% against a FTSE100 comparator group and 20% against a FTSE350 property comparator group).

The Restricted Shares conditionally vest on the third anniversary of the award.  No performance conditions attach to the Restricted Shares.

These transactions took place outside of a trading venue.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

1.    Chris Grigg

2.    Simon Carter

3.    Emma Cariaga

4.    Stacey Clark

5.    Ann Henshaw

6.    David Lockyer

7.    Roger Madelin

8.    Brona McKeown

9.    Sally Jones

10.  Darren Richards

11.  Nigel Webb

2

Reason for the notification

a)

Position/status

1.    PDMR - Chief Executive Officer

2.    PDMR - Chief Financial Officer

3.    PDMR - Executive Committee member

4.    PDMR - Executive Committee member

5.    PDMR - Executive Committee member

6.    PDMR - Executive Committee member

7.    PDMR - Executive Committee member

8.    PDMR - Executive Committee member

9.    PDMR - Executive Committee member

10.  PDMR - Executive Committee member

11.  PDMR - Executive Committee member

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

The British Land Company PLC

b)

LEI

RV5B68J2GV3QGMRPW209

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 financial instrument, type of financial instrument

Identification code

Ordinary shares of 25 pence each

GB0001367019

b)

Nature of the transaction

Grant of conditional Performance Share Award under the Long Term Incentive Plan scheme

c)

Price(s) and volume(s)

Price(s) (pence)	Volume(s)
1.    Nil 2.    Nil 3.    Nil 4.    Nil 5.    Nil 6.    Nil 7.    Nil 8.    Nil 9.    Nil 10.  Nil 11.  Nil	1.    476,807 2.    272,812 3.    52,512 4.    30,362 5.    49,648 6.    52,512 7.    54,634 8.    53,563 9.    73,457 10.  73,457 11.  57,366

d)

Aggregated information

-      Aggregated volume

-      Price

N/A (single transaction)

e)

Date of the transaction

2020-06-22

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

1.    Emma Cariaga

2.    Stacey Clark

3.    Ann Henshaw

4.    David Lockyer

5.    Roger Madelin

6.    Brona McKeown

7.    Sally Jones

8.    Darren Richards

9.    Nigel Webb

2

Reason for the notification

a)

Position/status

1.    PDMR - Executive Committee member

2.    PDMR - Executive Committee member

3.    PDMR - Executive Committee member

4.    PDMR - Executive Committee member

5.    PDMR - Executive Committee member

6.    PDMR - Executive Committee member

7.    PDMR - Executive Committee member

8.    PDMR - Executive Committee member

9.    PDMR - Executive Committee member

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

The British Land Company PLC

b)

LEI

RV5B68J2GV3QGMRPW209

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 financial instrument, type of financial instrument

Identification code

Ordinary shares of 25 pence each

GB0001367019

b)

Nature of the transaction

Grant of conditional share awards under the Restricted Share Plan scheme

c)

Price(s) and volume(s)

Price(s) (pence)	Volume(s)
1.    Nil 2.    Nil 3.    Nil 4.    Nil 5.    Nil 6.    Nil 7.    Nil 8.    Nil 9.    Nil	1.    23,338 2.    13,494 3.    22,065 4.    23,338 5.    24,282 6.    23,805 7.    32,647 8.    32,647 9.    25,496

d)

Aggregated information

-      Aggregated volume

-      Price

N/A (single transaction)

e)

Date of the transaction

2020-06-22

f)

Place of the transaction

Outside of a trading venue

This notification is made in accordance with the requirements of the EU Market Abuse Regulation.  The Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.

Enquiries
Company Secretariat	0207 486 4466

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