Fisher (James) & Sons plc Director/PDMR Shareholding (6341A)
June 02 2021 - 11:16AM
UK Regulatory
TIDMFSJ
RNS Number : 6341A
Fisher (James) & Sons plc
02 June 2021
2 June 2021
JAMES FISHER AND SONS PLC
Notification of Directors' Interest in Shares
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulations.
Following Duncan Kennedy's recent appointment to the Board as
Chief Financial Officer, awards over ordinary shares of 25p each in
James Fisher and Sons plc (the "Company") were made under the James
Fisher and Sons 2015 Long Term Incentive Plan, on 28 May 2021 as
follows:
PDMR Number of Shares held under
award
Duncan Kennedy 35,790
----------------------------
Notes:
No consideration was paid for the grant of the awards which are
structured as nil cost restricted share awards.
The awards will normally vest on the 28 May 2024 subject to the
satisfaction of the performance conditions set by the Remuneration
Committee of the Company.
The vesting of 70 per cent. of such awards (the "EPS Part") is
subject to targets measuring the (end to end) percentage growth in
the Company's EPS over the period 1 January 2021 to 31 December
2023. One quarter of the EPS Part will vest for EPS growth over the
measurement period of 25 percent and thereafter on a straight line
basis to full vesting of the EPS Part for EPS growth over the
measurement period of 67 percent (or better).
The vesting of 30 per cent. of such awards (the "TSR Part") is
subject to the Company's total shareholder return ("TSR")
performance over a three year period relative to the TSR
performance over the same period of the constituents of the FTSE
250 Index (excluding investment trusts and the Company) as the
start of the measurement period. One quarter of the TSR Part will
vest for median ranking performance and thereafter on a straight
line basis to full vesting of the TSR Part for upper quartile
ranking (or better) relative TSR performance.
In line with the Remuneration Policy approved by shareholders at
the 2018 AGM a two-year post-vesting holding period will apply to
this award.
Furthermore, the Remuneration Committee retains the discretion
to adjust the Awards at vesting to ensure that all relevant factors
are taken into account, including the consideration of any windfall
gains.
Details of the full notifications received by the Company are
set out below.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Duncan Kennedy
-------------------------------- ----------------------------------------
2 Reason for Notification
--------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------------- ----------------------------------------
b) Initial notification/Amendment Initial Announcement
-------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name James Fisher and Sons plc
-------------------------------- ----------------------------------------
b) LEI 213800J975E5OYR6S216
-------------------------------- ----------------------------------------
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 Ordinary Shares of 25 pence each in
instrument, type of James Fisher and Sons plc
instrument GB0003395000
Identification code
-------------------------------- ----------------------------------------
b) Nature of the transaction Grant of a restricted share award under
the James Fisher and Sons 2015 Long
Term Incentive Plan. The award will
ordinarily vest on 28 May 2024.
-------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 35,790
----------
-------------------------------- ----------------------------------------
Aggregated information
* Aggregated volume
d) * Price 35,790
-------------------------------- ----------------------------------------
e) Date of the transaction 28 May 2021
-------------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ----------------------------------------
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END
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