Next PLC Director/PDMR Shareholding - Replacement (0508A)
January 17 2024 - 10:48AM
UK Regulatory
TIDMNXT
RNS Number : 0508A
Next PLC
17 January 2024
17 January 2024
NEXT plc
This announcement replaces the 'Notification of Transactions by
Persons Discharging Managerial Responsibility and Persons Closely
Associated with Them' announcement released on 22 September 2023 at
16:00 under RNS No: 4158N.
The form has been updated to include the award made to Marcelle
Stakol over 2,180 shares. All other details remain unchanged.
Notification of Transactions by Persons Discharging Managerial
Responsibility and Persons Closely Associated with Them
The following awards were granted to executive directors and a
PCA on 22 September 2023 under the NEXT Long Term Incentive Plan
(the "LTIP"):
Maximum No. of
Shares
Lord Wolfson of Aspley Guise 15,194
---------------
Amanda James 9,252
---------------
Richard Papp 8,969
---------------
Jane Shields 8,969
---------------
Jeremy Stakol 8,031
---------------
Marcelle Stakol 2,180
---------------
Under the terms of each LTIP the award comprises a conditional
award of shares on the following terms:
-- the award will vest following the third anniversary of the
date of grant subject to performance targets and continued
employment in the NEXT Group;
-- a variable percentage of the maximum number of shares above
can vest, depending on the relative Total Shareholder Return
of NEXT over a three year period against a comparator group;
-- for relative performance against the comparator group the
percentage vesting will be:
Relative performance Percentage vesting
---------------------- -------------------
Below median 0%
Median 20%
Upper quintile 100%
-- the Remuneration Committee has discretion to override and
reduce formulaic outcomes under the LTIP awards should this
be considered appropriate in the circumstances;
-- before any of the awards vest, the Committee must have regard
to the underlying financial performance of the Company;
-- to the extent that the performance condition is not met,
the award will lapse completely;
-- to the extent that awards vest, dividend equivalents will
be accrued; and
-- any vesting of these awards granted to executive directors
(including dividend equivalents) will be settled in shares
and, after payment of tax, the net shares received should
be retained for a period of two further years, and for operational
directors for a period of six further months.
LTIP awards are made twice a year. The maximum number of shares
shown above is 112.5% of each executive director's (60% of
operational director's) base salary at the date of grant, divided
by NEXT's average share price over the three months prior to the
start of the performance period.
The following notification made under article 19.1 of the UK
Market Abuse Regulation ("MAR") related to awards granted to
executive directors on 22 September 2023 under the LTIP. This
announcement is made in accordance with Article 19.3 of MAR.
Details of the person discharging managerial responsibilities
1 ("PDMR") / person closely associated ("PCA")
a) Name 1. Lord Wolfson of Aspley Guise
2. Amanda James
3. Richard Papp
4. Jane Shields
5. Jeremy Stakol
6. Marcelle Stakol
--------------------------- -------------------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------------
a) Position/status 1. Chief Executive (PDMR)
2. Group Finance Director (PDMR)
3. Group Merchandise and Operations
Director (PDMR)
4. Group Sales, Marketing and HR Director
(PDMR)
5. Group Investments, Acquisitions
and Third Party Brands Director (PDMR)
6. PCA of the Group Investments, Acquisitions
and Third Party Brands Director and
Operational Brand Director
--------------------------- -------------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- -------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Next plc
--------------------------- -------------------------------------------------------
b) LEI 213800WQD8ECPZP9PH98
--------------------------- -------------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.10 each - conditional
financial instrument, award
type of instrument
Identification code GB0032089863
b) Nature of the transaction Conditional award granted of shares
under the LTIP. Maximum number of shares
as follows:
1. Lord Wolfson of Aspley Guise - 15,194
2. Amanda James - 9,252
3. Richard Papp - 8,969
4. Jane Shields - 8,969
5. Jeremy Stakol - 8,031
6. Marcelle Stakol - 2,180
--------------------------- -------------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
Lord Wolfson of Aspley
Guise Nil 15,194
-------------------------------------------- -----------
Amanda James Nil 9,252
-------------------------------------------- -----------
Richard Papp Nil 8,969
-------------------------------------------- -----------
Jane Shields Nil 8,969
-------------------------------------------- -----------
Jeremy Stakol Nil 8,031
-------------------------------------------- -----------
Marcelle Stakol Nil 2,180
-------------------------------------------- -----------
d) Aggregated information
- Aggregated volume n/a single transactions
- Price
e) Date of the transaction 22 September 2023
f) Place of the transaction Outside a trading venue
--------------------------- -------------------------------------------------------
Ian Blackwell
Company Secretary
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END
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