Next PLC Section 430 (2B) Companies Act 2006 Statement
July 26 2024 - 11:22AM
RNS Regulatory News
RNS Number : 0858Y
Next PLC
26 July 2024
26 July 2024
NEXT plc (the "Company" or
"NEXT")
Section 430 (2B) Companies Act 2006 Statement - Amanda
James
As announced on 2 October 2023, Amanda
James has stepped down as Group Finance Director of NEXT with
effect from the end of 26 July 2024. She will remain an employee of
the Company until 26 September 2024.
The following information is provided
in accordance with section 430(2B) of the Companies Act 2006 and
these arrangements are in line with the Company's Remuneration
Policy which was approved by shareholders at the 2023
AGM:
1. Amanda has not
and will not receive any loss of office payments.
2. The Remuneration
Committee has determined that Amanda will be treated as a good
leaver in respect of her outstanding share incentive benefits and
these will be treated in accordance with the rules of the
applicable plans and will remain subject to the terms contained
therein.
Long Term Incentive Plan ("LTIP"):
Awards made in March and September 2022, 2023 and 2024 will vest on
their original vesting dates to the extent that the performance
conditions are met. As a good leaver, Amanda's entitlement will be
time pro-rated proportionately to her actual period of service.
Amanda's other outstanding LTIP award (i.e. made in September 2021)
will vest on its original vesting date to the extent that the
performance conditions are met.
Sharesave Scheme: outstanding options
held under the all-employee Sharesave may be exercised in
accordance with the rules of the plan.
The Company's Remuneration Report for
the financial year ending January 2025 will include details of
remuneration earned by Amanda James as an executive director during
the relevant period. The LTIP vesting information will be updated
in the January 2025, 2026, 2027 and 2028 Directors' Remuneration
Reports.
Seonna Anderson
Company Secretary
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END
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