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Serco Group PLC
Director's Dealing • May 10, 2023
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Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 9988Y
Serco Group PLC
10 May 2023
10 May 2023
Serco Group plc ('Serco' or 'the Company')
Legal Entity Identifier: 549300PT2CIHYN5GWJ21
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF 2p EACH IN THE COMPANY ('Ordinary Shares')
On 5 May 2023, conditional share awards ('CSAs') granted on 6 October 2020 under the 2019 Serco Deferred Bonus Plan ('DBP') vested.
On 5 May 2023, Mark Irwin exercised nominal-cost options, granted under the 2009 Serco Performance Share Plan and, on the same date sold 527,383 Ordinary Shares at an average price of 150.8006p. The sale was made to cover Australian tax obligations related to the historic vesting of share awards during Mark's tenure as Chief Executive Officer of Serco Asia Pacific. Following this share sale, Mark's outright Serco share ownership remains in excess of the Group Remuneration Policy guideline of 200% of salary.
A summary of the Ordinary Shares acquired, sold, and retained in respect of the vesting CSAs and exercised nominal-cost options is set out below.
Vesting CSAs
| PDMR | Number of Ordinary Shares acquired | Number of Ordinary Shares sold | Number of Ordinary Shares retained | Number of Ordinary Shares transferred to Spouse |
| Mark Irwin, Group Chief Executive |
223,380 | 105,3591 | 118,021 | - |
| David Eveleigh, Group General Counsel and Company Secretary |
233,012 | 124,000 | - | 109,012 |
| Anthony Kirby, CEO UK & Europe |
156,882 | 156,882 | - | - |
1. Sold to satisfy tax liabilities and associated dealing costs
Exercised nominal-cost options
| PDMR | Grant date of award | Vest date of award | Number of Ordinary Shares acquired | Ordinary Shares sold | Number of Ordinary Shares retained |
| Mark Irwin, Group Chief Executive |
6 April 2017 | 6 April 2020 | 116,809 | 116,809 | - |
| 25 June 2018 | 25 June 2021 | 410,574 | 410,574 | - |
The price for the disposal of the Shares was £1.508006 per Share.
This announcement is made in accordance with the requirements of the EU Market Abuse Regulation 596/2014. The notification of dealing forms can be found below.
Transaction notification
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Mark Irwin
2
Reason for the notification
a)
Position/status
Group Chief Executive Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Serco Group plc
b)
LEI
549300PT2CIHYN5GWJ21
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 2 pence each ('Ordinary Shares')
Identification code
ISIN: GB0007973794
b)
Nature of the transaction
The acquisition of Ordinary Shares pursuant to the vest of conditional share awards granted on 6 October 2020.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
223,380
d)
Aggregated information
- Aggregated volume
223,380
- Price
N/A
e)
Date of the transaction
5 May 2023
f)
Place of the transaction
N/A
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 2 pence each ('Ordinary Shares')
Identification code
ISIN: GB0007973794
b)
Nature of the transaction
The automatic sale of Ordinary Shares to satisfy tax liabilities following the vesting of conditional share awards.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£ 1.508006
105,359
d)
Aggregated information
- Aggregated volume
105,359
- Price
£158,882.00
e)
Date of the transaction
5 May 2023
f)
Place of the transaction
London Stock Exchange (XLON)
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 2 pence each ('Ordinary Shares')
Identification code
ISIN: GB0007973794
b)
Nature of the transaction
The exercise of nominal-cost options over Ordinary Shares granted on 6 April 2017 and 25 June 2018 under the Company's 2009 Performance Share Plan.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| £0.02 | 116,809 |
| £0.02 | 410,574 |
d)
Aggregated information
- Aggregated volume
527,383
- Price
£10,547.66
e)
Date of the transaction
5 May 2023
f)
Place of the transaction
N/A
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 2 pence each ('Ordinary Shares')
Identification code
ISIN: GB0007973794
b)
Nature of the transaction
The sale of Ordinary Shares following the exercise of nominal-cost options over Ordinary Shares on 5 May 2023 under the Company's 2009 Performance Share Plan.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| £1.508006 | 527,383 |
d)
Aggregated information
- Aggregated volume
527,383
- Price
£795,296.73
e)
Date of the transaction
5 May 2023
f)
Place of the transaction
London Stock Exchange (XLON)
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David Eveleigh
2
Reason for the notification
a)
Position/status
Group General Counsel and Company Secretary
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Serco Group plc
b)
LEI
549300PT2CIHYN5GWJ21
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 2 pence each ('Ordinary Shares')
Identification code
ISIN: GB0007973794
b)
Nature of the transaction
The acquisition of Ordinary Shares pursuant to the vest of conditional share awards granted on 6 October 2020.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
233,012
d)
Aggregated information
- Aggregated volume
233,012
- Price
N/A
e)
Date of the transaction
5 May 2023
f)
Place of the transaction
N/A
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 2 pence each ('Ordinary Shares')
Identification code
ISIN: GB0007973794
b)
Nature of the transaction
The sale of Ordinary Shares following the vesting of conditional share awards granted on 6 October 2020 under the Company's 2019 Deferred Bonus Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£ 1.508006
124,000
d)
Aggregated information
- Aggregated volume
124,000
- Price
£186,992.74
e)
Date of the transaction
5 May 2023
f)
Place of the transaction
London Stock Exchange (XLON)
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 2 pence each ('Ordinary Shares')
Identification code
ISIN: GB0007973794
b)
Nature of the transaction
The transfer of 109,012 Ordinary Shares to Spouse for nil consideration.
No change in beneficial ownership.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| £0.00 | 109,012 |
d)
Aggregated information
- Aggregated volume
109,012
- Price
£0.00
e)
Date of the transaction
5 May 2023
f)
Place of the transaction
N/A
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Katharine Eveleigh | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | PCA of David Eveleigh (Group General Counsel & Company Secretary) | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Serco Group plc | |||
| b) | LEI | 549300PT2CIHYN5GWJ21 | |||
| 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 2 pence each ('Ordinary Shares') | |||
| Identification code | ISIN: GB0007973794 | ||||
| b) | Nature of the transaction | Receipt of Ordinary Shares from spouse for nil consideration. | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.00 | 109,012 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 109,012 | ||||
| - Price | £0.00 | ||||
| e) | Date of the transaction | 5 May 2023 | |||
| f) | Place of the transaction | N/A |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Anthony Kirby | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | CEO UK & Europe | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Serco Group plc | |||
| b) | LEI | 549300PT2CIHYN5GWJ21 | |||
| 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 2 pence each ('Ordinary Shares') | |||
| Identification code | ISIN: GB0007973794 | ||||
| b) | Nature of the transaction | The acquisition of Ordinary Shares pursuant to the vest of conditional share awards granted on 6 October 2020. | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| N/A | 156,882 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 156,882 | ||||
| - Price | N/A | ||||
| e) | Date of the transaction | 5 May 2023 | |||
| f) | Place of the transaction | N/A | |||
| 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 2 pence each ('Ordinary Shares') | |||
| Identification code | ISIN: GB0007973794 | ||||
| b) | Nature of the transaction | The sale of Ordinary Shares following the vesting of conditional share awards granted on 6 October 2020. | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £ 1.508006 | 156,882 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 156,882 | ||||
| - Price | £236,579.00 | ||||
| e) | Date of the transaction | 5 May 2023 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) |
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