Fisher (James) & Sons plc Director/PDMR Shareholding (2409J)
April 25 2022 - 8:42AM
UK Regulatory
TIDMFSJ
RNS Number : 2409J
Fisher (James) & Sons plc
25 April 2022
25 April 2022
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.
On 21 April 2022, awards over ordinary shares of 25p each in
James Fisher and Sons plc (the "Company") were made under the James
Fisher and Sons 2021 Long Term Incentive Plan, to the following
persons discharging managerial responsibilities:
PDMR Number of Shares held under
award
Eoghan O'Lionaird 146,773
----------------------------
Duncan Kennedy 96,926
----------------------------
Robin Stopford 51,874
----------------------------
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 21 April 2025 subject to
the satisfaction of the performance conditions set by the
Remuneration Committee of the Company.
The following three performance conditions apply to the
Award:
50 per cent. of the Award is subject to a performance condition
based on the Company's earnings per share (EPS) performance over
three financial years commencing with the financial year in which
the Award is granted. None of this element shall vest if the
Company's EPS for the 2024 financial year is less than 66p. 25 per
cent. of this element shall vest if 2024 EPS is 66p, rising on a
straight-line sliding scale to 100 per cent. vesting of this
element if 2024 EPS is at least 76p.
30 per cent. of the Award is subject to a performance condition
comparing the Company's total shareholder return (TSR) against a
comparator group comprising the constituents of the FTSE 250 Index
(excluding investment trusts) at the start of the TSR performance
period. TSR shall be measured over three years commencing on 6
April 2022. None of this element shall vest if the Company's
relative TSR over this period is below the median TSR of the
comparator group. 25 per cent. of this element shall vest if the
Company's TSR is in line with the median TSR of the comparator
group, rising on a straight-line sliding scale to 100 per cent.
vesting of this element if TSR is at least upper quartile.
The remaining 20 per cent. of the Award is subject to a
performance condition based on the Company's return on capital
employed (ROCE) performance over three financial years commencing
with the financial year in which the Award is granted. None of this
element shall vest if the Company's ROCE for the 2024 financial
year is less than 11%. 25 per cent. of this element shall vest if
2024 ROCE is 11%, rising on a straight-line sliding scale to 100
per cent. vesting of this element if 2024 ROCE is at least 13%.
In line with the Remuneration Policy approved by shareholders at
the 2021 AGM a two-year post-vesting period will apply to the
awards made to Eoghan O'Lionaird and Duncan Kennedy.
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 Eoghan Pol O'Lionaird
-------------------------------- ----------------------------------------
2 Reason for Notification
--------------------------------------------------------------------------
a) Position/status Chief Executive 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 2021 Long
Term Incentive Plan. The award will
ordinarily vest on 21 April 2025.
-------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 146,773
----------
-------------------------------- ----------------------------------------
Aggregated information
* Aggregated volume
d) * Price 146,773
-------------------------------- ----------------------------------------
e) Date of the transaction 21 April 2022
-------------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ----------------------------------------
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 2021 Long
Term Incentive Plan. The award will
ordinarily vest on 21 April 2025.
-------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 96,926
----------
-------------------------------- ----------------------------------------
Aggregated information
* Aggregated volume
d) * Price 96,926
-------------------------------- ----------------------------------------
e) Date of the transaction 21 April 2022
-------------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Robert Woodman Stopford
-------------------------------- ----------------------------------------
2 Reason for Notification
--------------------------------------------------------------------------
a) Position/status Head of Corporate Development
-------------------------------- ----------------------------------------
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 2021 Long
Term Incentive Plan. The award will
ordinarily vest on 21 April 2025.
-------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 51,874
----------
-------------------------------- ----------------------------------------
Aggregated information
* Aggregated volume
d) * Price 51,874
-------------------------------- ----------------------------------------
e) Date of the transaction 21 April 2022
-------------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ----------------------------------------
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END
DSHIAMTTMTJTBPT
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