Drax Group PLC

Director's Dealing • Apr 4, 2023

National Storage Mechanism | Additional information

RNS Number : 3481V

Drax Group PLC

04 April 2023

4 April 2023

DRAX GROUP PLC

Symbol: DRX

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

On Friday 31 March 2023, awards over shares were made under the Drax Group plc Long Term Incentive Plan 2020 ("LTIP") and the Drax Group plc Deferred Share Plan ("DSP"), as part of the normal annual cycle of grants. Consequently, the share interests of the under-noted directors and persons discharging managerial responsibility ("PDMRs") have changed following the granting of these awards.

Awards made under the LTIP

The performance awards, made for nil consideration under the LTIP, are conditional awards. Vesting of the LTIP award shares is normally deferred for three years and subject to the satisfaction of certain performance conditions and to the participant remaining in employment until the vesting date. Awards to executive directors are subject to an additional two-year holding period following the date of vesting.

Director/PDMR	Number of shares over which LTIP award made
Will Gardiner	225,830
Andy Skelton	125,698
Paul Sheffield	54,430
Penelope Small	56,457
Matt White	55,518

Awards made under the DSP

The deferred awards, made under the DSP for nil consideration as conditional awards, were made in respect of the deferred element of the annual bonus for the financial year ended 31 December 2022. Vesting of the DSP shares is normally deferred for three years and subject to the participant remaining in employment until the vesting date. Awards to executive directors are subject to an additional two-year holding period following the date of vesting.  

Director/PDMR	Number of shares over which DSP award made
Will Gardiner	65,783
Andy Skelton	35,874

Brett Gladden

Group Company Secretary

The notifications below are all in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Will Gardiner

2.

Reason for the notification

a)

Position / status

Group Chief Executive

b)

Initial notification / amendment

Initial Notification

3.

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

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

(i)         Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

(ii)         Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")

c)

Price(s) and volume(s)

	Price(s)	Volume(s)
(i)	Nil	225,830
(ii)	Nil	65,783

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

31 March 2023

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Andy Skelton

2.

Reason for the notification

a)

Position / status

Chief Financial Officer

b)

Initial notification / amendment

Initial Notification

3.

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

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

(i)         Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

(ii)         Deferred award made pursuant to the Drax Group plc Deferred Share Plan ("DSP")

c)

Price(s) and volume(s)

	Price(s)	Volume(s)
(i)	Nil	125,698
(ii)	Nil	35,874

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

31 March 2023

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Paul Sheffield

2.

Reason for the notification

a)

Position / status

Chief Commercial Officer

b)

Initial notification / amendment

Initial Notification

3.

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

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	54,430

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

31 March 2023

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Penelope Small

2.

Reason for the notification

a)

Position / status

Group Generation Director

b)

Initial notification / amendment

Initial Notification

3.

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

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	56,457

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

31 March 2023

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

Matt White

2.

Reason for the notification

a)

Position / status

Executive Vice President, North America

b)

Initial notification / amendment

Initial Notification

3.

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

a)

Name

Drax Group plc

b)

LEI

549300YPSNTXR4ZHSR98

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

Identification code

Ordinary shares of 11 16/29 pence

GB00BIVNSX38

b)

Nature of the transaction

Award made pursuant to the Drax Group plc Long Term Incentive Plan 2020 ("LTIP")

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	55,518

d)

Aggregated information

-     Aggregated volume

-     Price

N/A

e)

Date of the transaction

31 March 2023

f)

Place of the transaction

Outside a trading venue

--ENDS--

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