Big Yellow Group PLC — Director's Dealing 2021

Jul 22, 2021

National Storage Mechanism | Additional information

RNS Number : 1941G

Big Yellow Group PLC

22 July 2021

22 July 2021

Big Yellow Group PLC

Director/PDMR Shareholding

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Persons Closely Associated with them.

1.

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

a)

Name

1. Nicholas Vetch

2. James Gibson

3. Adrian Lee

4. John Trotman

b)

Position / status

1. Executive Chairman

2. Chief Executive Officer

3. Operations Director

4. Chief Financial Officer

c)

Initial notification / amendment

Initial Notification in each case

2.

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

Ordinary Shares of Big Yellow Group PLC (the "Company").

b)

Nature of the transaction

In each case, on 22 July 2021 the Executive Directors were granted nil paid options over ordinary shares of 10 pence (the "Options") granted under the Company's Long Term Investment Plan. 

The Options are exercisable from 22 July 2024 to 21 July 2031, subject to performance criteria being met.

Each of the messrs Vetch, Gibson, Lee and Trotman were granted the following Options:

1. Mr Vetch:                27,617

2. Mr Gibson:              32,404

3. Mr Lee:                   20,989

4. Mr Trotman:            23,935

The performance conditions attributable to these Options are as follows:

Weighting	Target	Performance threshold
50%	Adjusted earnings per share	Threshold performance (25% vesting) of average annual compound adjusted earnings per share growth of 4% over the three year period ended 31 March 2024, with 100% vesting on achievement of average annual compound adjusted earnings per share growth of 8% over the three year period ended 31 March 2024.
50%	Total Shareholder return	Relative TSR against the constituents of the FTSE Real Estate Index.  Threshold vesting of 25% for median performance with 100% vesting for upper quartile performance.

The Group is in the process of drawing up appropriate Science Based Targets for the business and expects to be in a position to report these in the Annual Report and Accounts for the year ended 31 March 2022.  The recent acquisition of the remaining interest in Armadillo which the Group did not already own, will also take time to integrate into our sustainability targets. In view of these factors the Remuneration Committee has decided that it should postpone the introduction of ESG targets (intended to be introduced for a minority of LTIP awards) into the LTIP until next year's grant.  The Committee will continue to target a range of ESG measures in the annual deferred bonus scheme.

On 22 July 2021, James Gibson, Adrian Lee and John Trotman were also each granted 2,166 options under the Company's Approved Option scheme.  At the date of exercise, to the extent that there is a gain on the Approved options, LTIP options will be forfeited to the same value. 

c)

Price(s) and volume(s)

Price(s)	Volume(s)
1. £nil	27,617
2. £nil	32,404
3. £nil	20,989
4. £nil	23,935

d)

Aggregated information

Aggregated volume Price

104,945 shares

£nil

e)

Date of the transaction

22 July 2021

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHBUGDRDXDDGBD