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Segro PLC — Remuneration Information 2019
May 31, 2019
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Remuneration Information
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RNS Number : 7604A
SEGRO PLC
31 May 2019
31 May 2019
SEGRO plc (the Company)
Director Shareholding
2019 LTIP Award
On 29 May 2019, following a recommendation made by the Company, the Trustee of the SEGRO plc Employees' Benefit Trust notified the Company that it had resolved to grant the below awards under the SEGRO plc Long Term Incentive Plan (LTIP) to the following Directors and PDMRs of the Company.
| Director | Number of shares awarded |
| David Sleath | 230,680 |
| Soumen Das | 171,418 |
| Andy Gulliford | 151,036 |
| Phil Redding | 151,036 |
| PDMR | |
| Elizabeth Blease | 40,609 |
| Liz Reilly | 40,241 |
Notes:
(a) The LTIP has been structured as a provisional allocation over ordinary shares in the Company. Further details of the operation of the LTIP are available in the Company's 2018 Annual Report and Accounts.
(b) The calculation of the awards granted was based on a share price of 691.0 pence, which was the Company's closing mid-market share price on 28 May 2019.
(c) The level of LTIP awards which had been made to the Executive Directors reflects the recently approved Remuneration Policy. Taking account of feedback from shareholders and their representative bodies both before and after the 2019 AGM, the Remuneration Committee has decided that, for the Executive Directors, the performance targets should be more stretching to those previously announced, to reflect the increased level of award. Specifically, the Total Accounting Return stretch target has increased from 2 per cent per annum to 2.5 per cent per annum and the Total Shareholder Return target has increased from 5 per cent per annum to 6 per cent per annum. The Total Property Return target has not been changed as the Committee considered it was already sufficiently stretching. These three targets are amongst the most challenging adopted by any large UK listed REIT. Full details of the revised performance conditions for the Executive Directors are available at www.SEGRO.com which supersedes those announced in March 2019. These changes form part of the Committee's ongoing review of the previously proposed changes in Executive Director remuneration.
(d) There has been no change to the performance conditions applying to the awards for the PDMRs and other participants of the LTIP.
The Notification of Dealing Forms provided in accordance with the requirements of the Market Abuse Regulation (2014/596/EU) (MAR) in relation to the transactions listed above are set out below:
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David Sleath
2.
Reason for the notification
a)
Position/status
Chief Executive
b)
Initial notification /Amendment
Initial
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SEGRO plc
b)
LEI
213800XC35KGM9NFC641
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 10 pence each
b)
Nature of the transaction
2019 LTIP Award
c)
Price(s) and volume(s)
| Price | Volume | Total |
| £6.91 | 230,680 | £1,593,998.80 |
d)
Aggregated information
N/A
e)
Date of the transaction
29 April 2019
f)
Place of the transaction
London Stock Exchange (XLON)
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Soumen Das
2.
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification /Amendment
Initial
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SEGRO plc
b)
LEI
213800XC35KGM9NFC641
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 10 pence each
b)
Nature of the transaction
2019 LTIP Award
c)
Price(s) and volume(s)
| Price | Volume | Total |
| £6.91 | 171,418 | £1,184,498.38 |
d)
Aggregated information
N/A
e)
Date of the transaction
29 April 2019
f)
Place of the transaction
London Stock Exchange (XLON)
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Andy Gulliford
2.
Reason for the notification
a)
Position/status
Chief Operating Officer
b)
Initial notification /Amendment
Initial
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SEGRO plc
b)
LEI
213800XC35KGM9NFC641
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 10 pence each
b)
Nature of the transaction
2019 LTIP Award
c)
Price(s) and volume(s)
| Price | Volume | Total |
| £6.91 | 151,036 | £1,043,658.76 |
d)
Aggregated information
N/A
e)
Date of the transaction
29 April 2019
f)
Place of the transaction
London Stock Exchange (XLON)
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Phil Redding
2.
Reason for the notification
a)
Position/status
Chief Investment Officer
b)
Initial notification /Amendment
Initial
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SEGRO plc
b)
LEI
213800XC35KGM9NFC641
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 10 pence each
b)
Nature of the transaction
2019 LTIP Award
c)
Price(s) and volume(s)
| Price | Volume | Total |
| £6.91 | 151,036 | £1,043,658.76 |
d)
Aggregated information
N/A
e)
Date of the transaction
29 April 2019
f)
Place of the transaction
London Stock Exchange (XLON)
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Elizabeth Blease
2.
Reason for the notification
a)
Position/status
General Counsel and Group Company Secretary
b)
Initial notification /Amendment
Initial
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SEGRO plc
b)
LEI
213800XC35KGM9NFC641
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 10 pence each
b)
Nature of the transaction
2019 LTIP Award
c)
Price(s) and volume(s)
| Price | Volume | Total |
| £6.91 | 40,609 | £280,608.19 |
d)
Aggregated information
N/A
e)
Date of the transaction
29 April 2019
f)
Place of the transaction
London Stock Exchange (XLON)
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Liz Reilly
2.
Reason for the notification
a)
Position/status
Group HR Director
b)
Initial notification /Amendment
Initial
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
SEGRO plc
b)
LEI
213800XC35KGM9NFC641
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 10 pence each
b)
Nature of the transaction
2019 LTIP Award
c)
Price(s) and volume(s)
| Price | Volume | Total |
| £6.91 | 40,241 | £278,065.31 |
d)
Aggregated information
N/A
e)
Date of the transaction
29 April 2019
f)
Place of the transaction
London Stock Exchange (XLON)
Stephanie Murton
Legal Counsel
020 7451 9083
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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