Remuneration Information • Feb 6, 2020
Remuneration Information
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RNS Number : 2530C
Grainger PLC
06 February 2020
Grainger plc
("Grainger" or the "Company")
GRAINGER PLC 2017 LONG TERM INCENTIVE PLAN AND GRANT OF OPTIONS TO DIRECTORS
The Company announces that it has made the following grants of nil cost share options ("Options") on 6 February 2020 over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the 2017 Long Term Incentive Plan ("LTIP") (under the LTIP rules as amended and approved by the shareholders at the Company's AGM on 5 February 2020).
Grant of Options
On 6 February 2020, Grainger granted Options over a total of 695,472 Shares to its Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") of the Company (as specified in the table below).
| Director/ PDMR | Position | No. of shares under Option |
| Helen Gordon | Chief Executive Officer | 330,116 |
| Vanessa Simms | Chief Financial Officer | 200,940 |
| Andrew Saunderson | Director of Investments | 82,208 |
| Michael Keaveney | Director of Land and Development | 82,208 |
The Options will generally vest and become exercisable three years from the date of grant, subject to continued employment. Vesting of the Options is subject to certain performance conditions, namely the Total Property Return ("TPR") performance, relative Total Shareholder Return ("TSR") and Secured PRS Investment. Half of the Shares under an Option are subject to TSR performance conditions, a quarter of the Shares under an Option are subject to TPR performance conditions and a quarter of the Shares under an Option are subject to the Secured PRS Investment performance conditions.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Names | Helen Gordon | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer, Director | |
| b) | Initial notification | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Grainger plc | |
| b) | LEI | 2138007CEIRKZMNI2979 | |
| 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 5p each in Grainger plc | |
| b) | Identification code | GB00B04V1276 | |
| c) | Nature of the transaction | Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied | |
| d) | Price and volumes | Price - Nil Volume: 330,116 Ordinary Shares |
|
| d) | Aggregated information - Aggregated volume - Price |
N/A | |
| e) | Date of the transaction | 6 February 2020 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Names | Vanessa Simms |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer, Director |
| b) | Initial notification | Initial Notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Grainger plc |
| b) | LEI | 2138007CEIRKZMNI2979 |
| 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 5p each in Grainger plc |
| b) | Identification code | GB00B04V1276 |
| c) | Nature of the transaction | Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied |
| d) | Price and volumes | Price - Nil Volumes: 200,940 Ordinary Shares |
| d) | Aggregated information - Aggregated volume - Price |
N/A |
| e) | Date of the transaction | 6 February 2020 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Names | Andrew Saunderson |
| 2 | Reason for the notification | |
| a) | Position/status | Director of Investments, PDMR |
| b) | Initial notification | Initial Notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Grainger plc |
| b) | LEI | 2138007CEIRKZMNI2979 |
| 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 5p each in Grainger plc |
| b) | Identification code | GB00B04V1276 |
| c) | Nature of the transaction | Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied |
| d) | Price and volumes | Price - Nil Volumes: 82,208 Ordinary Shares |
| d) | Aggregated information - Aggregated volume - Price |
N/A |
| e) | Date of the transaction | 6 February 2020 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Names | Michael Keaveney |
| 2 | Reason for the notification | |
| a) | Position/status | Director of Land and Development, PDMR |
| b) | Initial notification | Initial Notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Grainger plc |
| b) | LEI | 2138007CEIRKZMNI2979 |
| 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 5p each in Grainger plc |
| b) | Identification code | GB00B04V1276 |
| c) | Nature of the transaction | Grant of nil cost Options over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan which shall ordinarily vest and become exercisable from the third anniversary of the grant date subject to continued service and to the extent to which the performance conditions set for the Option are satisfied |
| d) | Price and volumes | Price - Nil Volumes: 82,208 Ordinary Shares |
| d) | Aggregated information - Aggregated volume - Price |
N/A |
| e) | Date of the transaction | 6 February 2020 |
| f) | Place of the transaction | Outside a trading venue |
Name of authorised official of issuer responsible for making notification.
Adam McGhin
Group General Counsel and Company Secretary
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 [email protected] or visit www.rns.com.
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