PageGroup PLC — Director's Dealing 2023

Mar 14, 2023

National Storage Mechanism | Additional information

RNS Number : 9451S

PageGroup plc

14 March 2023

14 March 2023

PageGroup plc (the "Company")

Notification of Interests of Directors

In accordance with the UK Market Abuse Regulation, notification is hereby given of transactions in the ordinary shares of the Company as follows:

The Company's CEO, Nick Kirk, was granted an award in respect of 57,267 ordinary shares of 1p in the Company ("Shares") under a historic incentive plan in March 2020 (being before he became a director and PDMR of the Company).  This award was granted subject to a three-year vesting period, with vesting determined by achievement against targets which were set by the Remuneration Committee.  Following the Remuneration Committee's consideration of the performance against targets, the award, which is in the form of forfeitable "restricted shares" which have been held by a nominee on Mr Kirk's behalf during the three-year vesting period, vested on 13 March 2023 in respect of 38,178 Shares and the remaining balance (which did not vest) have reverted to the Company's employee benefit trust for nil consideration.  Of the Shares which vested, Mr Kirk sold 17,989 Shares to settle his income tax and social security liabilities arising on the vesting of the award. 

In March 2022 (also before he became a director and PDMR of the Company), Mr Kirk was granted an award under the Company's Management Incentive Plan ("MIP") in respect of 80,121 Shares.  Awards under the MIP vest after three years.  Depending on the level of performance achieved against pre-determined targets set by the Remuneration Committee, shares may lapse on the first anniversary of the award, with the remaining shares vesting after a further two years, subject to a continued employment condition.  Following an assessment by the Remuneration Committee of the targets set, 16,826 shares have lapsed and reverted to the Company's employee benefit trust for nil consideration.  The balance 63,295 will continue to be held by the nominee on behalf of Mr Kirk for the remainder of the vesting period.   

Following his appointment as CEO, Mr Kirk is required to develop and sustain a shareholding in the Company worth 200% of salary in line with our approved Remuneration Policy.  The Remuneration Committee has agreed that Mr Kirk will be required to retain at least half of any shares that vest under historic incentive plans that were awarded and relate to performance prior to his appointment as CEO (after allowing for share sales to settle income tax and social security liabilities that arise).   

Kaye Maguire

General Counsel & Company Secretary

Tel: 020 3077 8069

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nicholas Kirk

2

Reason for the notification

a)

Position/status

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

PageGroup plc

b)

LEI

213800JK5ZEQW4AB8G71

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

1p ordinary shares each in PageGroup plc

ISIN: GB0030232317

b)

Nature of the transaction

Transfer of unvested shares in respect of the 2020 award under the PageGroup Management Incentive Plan to the trustee of the Michael Page Employees' Benefit Trust

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	19,089

d)

Aggregated information

- Aggregated volume

- Price

19,089

nil

e)

Date of the transaction

2023-03-13

f)

Place of the transaction

Outside a trading venue

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

1p ordinary shares each in PageGroup plc

ISIN: GB0030232317

b)

Nature of the transaction

Sale of shares following the vesting of an award under the PageGroup Management Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£4.437	17,989

d)

Aggregated information

- Aggregated volume

- Price

17,989

£4.437

e)

Date of the transaction

2023-03-13

f)

Place of the transaction

London Stock Exchange, Main Market (XLON)

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

1p ordinary shares each in PageGroup plc

ISIN: GB0030232317

b)

Nature of the transaction

Transfer of unvested shares in respect of the 2022 award under the PageGroup Management Incentive Plan to the trustee of the Michael Page Employees' Benefit Trust

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	16,826

d)

Aggregated information

- Aggregated volume

- Price

16,826

nil

e)

Date of the transaction

2023-03-13

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

DSHEAADLFDFDEFA