Mobico Group PLC (formerly: National Express Group)

Remuneration Information • Jun 21, 2024

National Storage Mechanism | Additional information

RNS Number : 4086T

Mobico Group PLC

21 June 2024

MOBICO GROUP PLC

("Company")

Director/PDMR Share Dealing

The Company provides notification of the following transaction, effected on 20 June 2024, relating to the below named Person Discharging Managerial Responsibilities ("PDMRs") and his respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

The transaction arises in respect of the grant under the rules of the Company's Long-Term Incentive Plan ("LTIP") to Ignacio Garat of three-year performance-conditioned nil-cost options over Shares (the "2024 LTIP Award") in accordance with the Directors Remuneration Policy.  

At the time of grant, the Company's share price (according to the middle market quotation of the Company's share price on the last dealing day prior to the date of grant of the awards) was 47.16p.  Accordingly, the Remuneration Committee has determined to scale back awards such that a reduction of 30% has been applied to the 2024 LTIP Award.  The numbers shown below in relation to the 2024 LTIP Award are post that reduction.

The Remuneration Committee retains discretion to adjust the outcome of the vesting of the 2024 LTIP Award having regard to all relevant circumstances, including the Company's performance and the Company's shareholders' experience, over the three-year performance period and further to adjust the vesting of the Award downwards if that vesting would otherwise result in a windfall gain.

Individual PDMR and transaction details are set out in the table below:

Name and position of PDMR	Number of Shares over which the 2024 LTIP Award was granted 1	Unrestricted beneficial interest held in Shares following the transactions 2	Total other interest held in Shares following the transactions 3
Ignacio Garat, Group Chief Executive Officer	1,781,170	274,659	2,974,4334

¹ The conversion of the 2024 LTIP Award value into the number of Shares over which it was granted is described above. The 2024 LTIP Award is shown over the maximum number of Shares which can vest.

² Including those held by connected persons.

³ Represents outstanding awards granted under the Company's Executive Deferred Bonus Plan and the Company's Long-Term Incentive Plan.

4 Mr Garat was also granted an approved CSOP award alongside his 2024 LTIP Award in line with HMRC permitted limits, which can be exercised by way of effective set-off against any shares vesting under the corresponding 2024 LTIP Award. Due to this effective set-off arrangement, his interests in Shares under such approved CSOP award is not included in the table above as this would result in a double-count.

1.        

Details of PDMR / PCA

Full Name

Ignacio Garat

Position / status

Group Chief Executive Officer, PDMR

Initial notification / amendment

Initial notification

2.

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

Name

Mobico Group PLC

LEI

213800A8IQEMY8PA5X34

3.

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

Description of the financial instrument

Ordinary shares of 5p each

Identification code

GB0006215205

Nature of the transaction

(i)Award of option over shares under the Mobico Group PLC's Long-Term Incentive Plan

Price (s) and volume(s)

	Price(s)	Volume(s)	Total
(i)	£ n/a	1,781,170	0.00

Date of the transaction

20 June 2024

Place of the transaction

n/a

This above notice is given in fulfilment of the Company's obligation under DTR 3.1 and Article 19 of the EU Market Abuse Regulation 596/2014 as incorporated into domestic law by the European Union (Withdrawal) Act 2018.

-       END -

Mobico contact and telephone number for enquiries:

Simon Callander, Group General Counsel & Company Secretary

+44 (0) 7795 232 708

Gillian Saunderson, Deputy Company Secretary

+44 (0) 7471 142 961

Notes:

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

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

DSHQKDBKCBKKFAB