International Distributions Service

Remuneration Information • Aug 8, 2019

National Storage Mechanism | Additional information

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RNS Number : 4206I

Royal Mail PLC

08 August 2019

Royal Mail plc

(Incorporated in England and Wales)

Company Number: 8680755

LSE Share Code:

RMG ISIN: GB00BDVZYZ77

LEI: 213800TCZZU84G8Z2M70

8 August 2019

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

Long Term Incentive Plan 2019 (LTIP 2019) Grant

On 8 August 2019, the PDMRs listed below were granted conditional share awards over ordinary shares in Royal Mail plc under the Royal Mail LTIP 2019. The number of shares awarded under the LTIP 2019 is set out in the table below, which is the maximum grant that the PDMRs are eligible for, and will only vest in full if the maximum performance condition is achieved.

PDMR	Number of shares
Rico Back	349,905
Stuart Simpson	246,027
Achim Dunnwald	182,242
Shane O'Riordain	170,092
Christian Herrlich	127,569
Sally Ashford	145,793
Mel Tomlin	83,831

The LTIP 2019 share awards will normally vest at the end of the three year performance period, once the Remuneration Committee has determined achievement against the performance condition. The earliest release date will be 8 August 2022, subject to the participant continuing to hold office or employment within the Royal Mail Group, and then subject to a two year holding period.

In addition, a conditional share award over ordinary shares in Royal Mail plc was also granted on 8 August 2019 to James Rietkerk, under the GLS LTIP 2019. This share award will normally vest on the third anniversary of the Grant Date, subject to the achievement of performance conditions. The number of shares awarded under the GLS LTIP 2019 is listed below:

PDMR	Number of shares
James Reitkerk	80,253

No consideration was paid for the grant of the share awards.

Long Term Incentive Plan 2016 (LTIP 2016) Vesting

On 8 August 2019, shares were due to vest under the Royal Mail plc (the "Company") LTIP. As a result of the Company not achieving the performance targets relating to the LTIP 2016, the Persons Discharging Managerial Responsibility ('PDMRs') listed below did not receive any shares.

PDMRs	No. of Shares
Stuart Simpson	Nil
Shane O'Riordain	Nil
Sally Ashford	Nil
Mel Tomlin	Nil

The shares have vested under the GLS LTIP 2016 to the PDMRs listed below. 

The shares shown for Rico Back are from the second tranche of the GLS LTIP 2016, with a performance period of April 2017 to March 2018, during which time Rico Back was CEO, GLS.  The vesting of the second tranche of the GLS LTIP 2016 also includes a cash award of €184,819 for Rico Back.

The shares vesting for James Rietkerk are for the second and third tranches of the GLS LTIP 2016, with performance periods April 2017 to March 2018 and April 2018 to March 2019 respectively.  These two tranches also include a cash award of £87,220 for James Rietkerk.  

PDMR	No. of Shares
Rico Back	39,921
James Rietkerk	22,422

Executive Directors are required to retain any share-based awards until they achieve a shareholding equivalent of 200 per cent of salary. All other PDMRs are required to retain a shareholding equivalent of 100 per cent of salary.

The below notifications, made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation, give 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)

Name

Rico Back

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

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	349,905

d)

Aggregated information

- Aggregated volume

- Price

349,905

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stuart Simpson

2

Reason for the notification

a)

Position/status

Group Chief Finance and Operating Officer

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	246,027

d)

Aggregated information

- Aggregated volume

- Price

246,027

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Achim Dunnwald

2

Reason for the notification

a)

Position/status

Chief Strategy and Transformation Officer

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	182,242

d)

Aggregated information

- Aggregated volume

- Price

182,242

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Shane O'Riordain

2

Reason for the notification

a)

Position/status

Managing Director of Corporate Affairs, Regulation and Marketing

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	170,092

d)

Aggregated information

- Aggregated volume

- Price

170,092

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Christian Herrlich

2

Reason for the notification

a)

Position/status

Group Chief Information Officer

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	127,569

d)

Aggregated information

- Aggregated volume

- Price

127,569

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Sally Ashford

2

Reason for the notification

a)

Position/status

Chief HR Officer

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	145,793

d)

Aggregated information

- Aggregated volume

- Price

145,793

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mel Tomlin

2

Reason for the notification

a)

Position/status

Chief of Staff

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the Royal Mail Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	83,831

d)

Aggregated information

- Aggregated volume

- Price

83,831

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Rietkerk

2

Reason for the notification

a)

Position/status

GLS 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

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Grant of ordinary shares under the GLS Long Term Incentive Plan 2019

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	80,253

d)

Aggregated information

- Aggregated volume

- Price

80,253

Nil

e)

Date of the transaction

8 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Rico Back

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

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Acquisition of ordinary shares pursuant to an exercise of options under the GLS 2016 Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£2.216	39,921

d)

Aggregated information

- Aggregated volume

- Price

39,921

£2.216

e)

Date of the transaction

7 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Rietkerk

2

Reason for the notification

a)

Position/status

GLS 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

Royal Mail plc

b)

LEI

213800TCZZU84G8Z2M70

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 £0.01 each in Royal Mail plc

GB00BDVZYZ77

b)

Nature of the transaction

Acquisition of ordinary shares pursuant to an exercise of options under the GLS 2016 Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£2.216	22,422

d)

Aggregated information

- Aggregated volume

- Price

22,422

£2.216

e)

Date of the transaction

7 August 2019

f)

Place of the transaction

London Stock Exchange (XLON)

For further information, please contact:

Contacts:

Company Secretariat

Mark Amsden

Phone: 020 7449 8289

Email: cosec@royalmail.com

Media

Beth Longcroft

Phone: 07435 768 549

Email: beth.longcroft@royalmail.com

Royal Mail press office out of hours: 020 7449 8246

Investor Relations

Catherine Nash

Phone: 020 7449 8183

Email: investorrelations@royalmail.com 

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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