Dunelm Group PLC

Remuneration Information • Oct 17, 2019

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RNS Number : 1355Q

Dunelm Group plc

17 October 2019

DUNELM GROUP plc

(the "Company")

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY AND CONNECTED PERSONS

17 October 2019

LTIP award granted to Nick Wilkinson and Laura Carr

On 16 October 2019, conditional awards under the Company's Long Term Incentive Plan (LTIP) have been granted to Nick Wilkinson (Chief Executive) and Laura Carr (Chief Financial Officer) over ordinary shares of one pence each in Dunelm Group plc, in the form of a nil cost option.

Using a closing mid price on 15 October 2019 of 817 pence, awards have been granted

as follows:   

Name	Basic salary	200% of basic salary	Share price used to calculate number of nil cost options	Number of shares in award
Nick Wilkinson	£551,412	£1,102,824	817p	134,984
Name	Basic salary	160% of basic salary	Share price used to calculate number of nil cost options	Number of shares in award
Laura Carr	£365,000	£584,000	817p	71,481

The award is made in accordance with the 2017 Remuneration Policy approved by shareholders on 21 November 2017 (the "2017 Policy").

The option may be exercised on or after 16 October 2022, subject to the satisfaction of a performance condition over the three financial years commencing on 30 June 2019, as set out below:

Growth in fully diluted EPS	Percentage of LTIP award vesting
Below RPI plus 3% per annum	0%
RPI plus 3% per annum	10%
Between RPI plus 3% and RPI plus 12% per annum	Pro-rata between 10% and 100%
RPI plus 12% per annum and above	100%

On exercise, Mr Wilkinson and Mrs Carr have each committed to retain two thirds of the shares vesting (after sale to cover their tax and national insurance liability on exercise), for the duration of employment, and 50% of these for a further two years. 

The award is subject to malus and clawback provisions in the following circumstances:

·      a material misstatement of any Group Member's financial results;

·      a material error in assessing a performance condition applicable to the Award or in the information or assumptions on which the Award was granted or Vests:

·      a material failure of risk management in any Group Member or a relevant business unit

·      serious reputational damage to any Group Member or a relevant business unit;

·      serious misconduct or material error on the part of the individual;

·      a material corporate failure as determined by the Board; or

·      any other circumstances which the Remuneration Committee in its discretion considers to be similar in their nature or effect to those set out above; or

·      fraud on the part of the individual.

Including the award set out above, Nick Wilkinson and Laura Carr hold options over the Company's ordinary shares as follows:

Name	Share scheme	Number of shares	Exercise price per share	Exercise dates
Nick Wilkinson	Long Term Incentive Plan	110,000	Nil	Between 28 February 2021 and 27 February 2028
Nick Wilkinson	Long Term Incentive Plan	180,802	Nil	Between 17 October 2021 and 16 October 2028
Nick Wilkinson	Long Term Incentive Plan	134,984	Nil	Between 16 October 2022 and 15 October 2029
Nick Wilkinson	2019 - 21 Sharesave	3,757	479.0p	Between 1 January 2022 and 30 June 2022
Laura Carr	Long Term Incentive Plan	105,893	Nil	Between 30 November 2021 and 29 November 2028
Laura Carr	Long Term Incentive Plan	71,481	Nil	Between 16 October 2022 and 15 October 2029

In addition to the above, Nick Wilkinson and Laura Carr have a beneficial interest in ordinary shares of one pence in the Company as follows:

Director	Number of ordinary shares
Nick Wilkinson	113,752
Laura Carr	36,000

Name of authorised Company official responsible for making this notification:

Dawn Durrant, Company Secretary

0116 26444439 

For further information please contact:

Dunelm Group plc	0116 264 4439
Dawn Durrant, Company Secretary
MHP Communications	020 3128 8570
Simon Hockridge / Tim Rowntree / Pete Lambie	dunelm@mhpc.com

DUNELM GROUP PLC

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nick Wilkinson

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

Dunelm Group plc

b)

LEI

213800WCOWEI3T5DUV19

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

Identification code

Ordinary shares of one pence each 

ISINGB00BICQ739  

b)

Nature of the transaction

Grant of conditional nil cost options under the Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	134,984

d)

Aggregated information

- Aggregated volume

- Price

134,984

Nil

e)

Date of the transaction

2019.10.16

f)

Place of the transaction

London Stock Exchange (XLON)

Name of officer of issuer responsible for making notification: Dawn Durrant

Date of notification: 2019.10.17

DUNELM GROUP PLC

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Laura Carr

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

Dunelm Group plc

b)

LEI

213800WCOWEI3T5DUV19

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

Identification code

Ordinary shares of one pence each 

ISINGB00BICQ739  

b)

Nature of the transaction

Grant of conditional nil cost options under the Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	71,481

d)

Aggregated information

- Aggregated volume

- Price

71,481  

Nil

e)

Date of the transaction

2019.10.16

f)

Place of the transaction

London Stock Exchange (XLON)

Name of officer of issuer responsible for making notification: Dawn Durrant

Date of notification: 2019.10.17

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.

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