Paragon Banking Group PLC

Director's Dealing • Dec 5, 2016

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RNS Number : 0129R

Paragon Group Of Companies PLC

05 December 2016

The Paragon Group of Companies PLC:

Director Shareholding

On 1 December 2016, The Paragon Group of Companies PLC (the "Company") granted awards over the Company's Ordinary Shares of £1.00 each to the following directors under the Paragon Performance Share Plan 2013 ("PPSP") and under the Paragon Deferred Share Bonus Plan 2013 ("PDSBP") in respect of bonuses for the year ended 30 September 2016. 

Director	Role	Number of shares awarded under PPSP	Number of shares awarded under PDSBP
N S Terrington	Chief Executive	262,114	44,493
R J Woodman	Group Finance Director	165,074	26,742
J A Heron	Managing Director of Paragon Mortgages	139,753	17,849

No consideration was paid for the grant of the awards, which have been structured as nil-cost options. 

The awards will normally vest on the third anniversary of grant and will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant. 

Vesting of PPSP awards is also subject to three principal performance measures based on: (1) the Company's total shareholder return ("TSR"); (2) the Company's earnings per share ("EPS") performance; and (3) an assessment of risk and compliance factors.  Each performance measure will be assessed over a three year performance period commencing with the financial year of grant as follows. 

TSR	50% of each PPSP award is subject to this test which compares the rank of the Company's TSR over the performance period against a comparator group.  25% of this element of each award will vest for median performance, increasing on a straight line basis to full vesting of this element for upper quartile performance.
EPS	25% of each PPSP award is subject to this test which measures, over the performance period, the Company's annual earnings per share growth in excess of the Retail Prices Index.  25% of this element will vest where EPS growth is equal to the increase in the retail price index plus 3% per annum, increasing on a straight line basis to full vesting of this element for EPS growth equal to the increase in the retail price index plus 7% per annum or more.
Risk	25% of each PPSP award will be subject to this test which will be based on a number of risk and compliance factors considered over the performance period and taken into consideration by the Remuneration Committee at the time of vesting.  This will include assessing evidence of wider risk management performance and the application of a strong risk culture across the Paragon Group, taking into account the business's risk tolerance levels.
In addition, prior to any element of a PPSP award vesting, the Remuneration Committee must be satisfied that a financial underpin test has been met.

Enquiries:

Pandora Sharp

Group Company Secretary

0121 712 2075

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nigel Stewart Terrington
2	Reason for the notification
a)	Position/status	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	The Paragon Group of Companies PLC
b)	LEI	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 £1.00 each in The Paragon Group of Companies PLC
Identification code	GB00B2NGPM57
b)	Nature of the transaction	Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP") and awards under the Paragon Deferred Share Bonus Plan ("PDSBP") in respect of bonuses for the year ended 30 September 2016. The awards will normally vest on the third anniversary of the grant and will ordinarily remain exercisable until the day before the tenth anniversary of the date of grant.
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		PPSP - £0.00 PDSBP - £0.00	PPSP - 262,114 PDSBP - 44,493
d)	Aggregated information	N/A
- Aggregated volume
- Price
e)	Date of the transaction	1 December 2016
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard James Woodman
2	Reason for the notification
a)	Position/status	Group Finance Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The Paragon Group of Companies PLC
b)	LEI	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 £1.00 each in The Paragon Group of Companies PLC
Identification code	GB00B2NGPM57
b)	Nature of the transaction	Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP") and awards under the Paragon Deferred Share Bonus Plan ("PDSBP") in respect of bonuses for the year ended 30 September 2016. The awards will normally vest on the third anniversary of the grant and will ordinarily remain exercisable until the day before the tenth anniversary of the date of grant.
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		PPSP - £0.00 PDSBP - £0.00	PPSP - 165,074 PDSBP - 26,742
d)	Aggregated information	N/A
- Aggregated volume
- Price
e)	Date of the transaction	1 December 2016
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Andrew Heron
2	Reason for the notification
a)	Position/status	Managing Director of Paragon Mortgages
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The Paragon Group of Companies PLC
b)	LEI	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 £1.00 each in The Paragon Group of Companies PLC
Identification code	GB00B2NGPM57
b)	Nature of the transaction	Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP") and awards under the Paragon Deferred Share Bonus Plan ("PDSBP") in respect of bonuses for the year ended 30 September 2016. The awards will normally vest on the third anniversary of the grant and will ordinarily remain exercisable until the day before the tenth anniversary of the date of grant.
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		PPSP - £0.00 PDSBP - £0.00	PPSP - 139,753 PDSBP - 17,849
d)	Aggregated information	N/A
- Aggregated volume
- Price
e)	Date of the transaction	1 December 2016
f)	Place of the transaction	Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

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