TIDMAML
RNS Number : 6919I
Aston Martin Lagonda Global Hld PLC
15 December 2020
15 December 2020
Aston Martin Lagonda Global Holdings plc
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
Aston Martin Lagonda Global Holdings plc (the "Company")
announces the following changes in the interests of Directors in
the Ordinary Shares in the Company ("Shares"), which took place on
14 December 2020.
In accordance with the rules of the Aston Martin Lagonda
Long-Term Incentive Plan 2018 ("LTIP"), the Directors named below
were granted nil-cost options over Shares as follows:
-- Tobias Moers (CEO) - 211,618 shares (300% of salary)
-- Kenneth Gregor (CFO) - 70,539 shares (200% of salary)
The LTIP awards are the 2020 grant which was delayed due to the
unprecedented uncertainty and change faced during 2020 (both
specifically for the Company and externally due to Covid-19). The
Remuneration Committee were able to determine the most appropriate
approach and approved the 2020 LTIP grant at its October 2020
meeting, once the new leadership team and an updated business plan
were established. The LTIP awards were granted at the first
opportunity post this approval, following the General Meeting held
on 4 December 2020 and on the first dealing day of the consolidated
shares.
These LTIP awards are subject to the performance conditions,
performance periods, vesting periods and malus and clawback
provisions set out below, in-line with the Remuneration Policy
approved in 2019. The targets related to Adjusted EBITDA
performance remain commercially sensitive at this point and will be
set out in the 2020 Directors' Remuneration Report which is
expected to be published in March 2021, along with full details of
the LTIP awards.
2020 Performance measures
2020 LTIP targets Vesting*
(as a % of maximum)
-------------------- ---------- ------------------------
EBITDA targets remain
commercially sensitive
Adjusted EBITDA and will be disclosed
(80% of award) Threshold in the 2020 DRR 20%
------------------------
Stretch 80%
-------------------
Maximum 100%
------------------------------------ ------------------- --------------------
Relative TSR Threshold Rank 6(th) (median) 20%
(vs. luxury peers)
(20% of award)
Rank 3(rd) or above
Maximum (80(th) percentile) 100%
---------- --------------------------------------------- --------------------
* Vesting will be on a straight-line basis between each of
threshold and stretch, and stretch and maximum for the EBITDA
element and threshold and maximum for the TSR element
-- TSR performance will be measured on a ranked basis against
the following luxury companies: Burberry, Capri Holdings, Compagnie
Financiere Richemont, Ferrari, Hermes International, Kering, LVMH,
Moncler, Prada and Ralph Lauren.
-- The Remuneration Committee retains discretion to adjust the
vesting levels to ensure they reflect underlying business
performance and any other relevant factors to ensure that the value
at vesting is fully reflective of the performance delivered and
executives do not receive unjustified windfall gains.
Performance period
-- The period over which the EBITDA performance condition will
be measured is from 1 January 2020 to 31 December 2022 (three
financial years).
-- The period over which the TSR performance condition will be
measured is from 14 December 2020 to 13 December 2023 (three years
from grant date).
Vesting period
-- Subject to performance, the element of awards subject to
EBITDA performance will vest following the announcement of results
for 2022 (early March 2023).
-- Subject to performance, the element of awards subject to
relative TSR performance will vest three years from grant,
following the Remuneration Committee's determination of the
performance outcome.
-- The CEO and CFO will be required to hold at least 75% of any
shares that vest (net of tax) until they have met their
shareholding guidelines under the shareholding policy.
Malus and Clawback:
-- Malus and clawback provisions will be operated at the
discretion of the Remuneration Committee in respect of awards
granted under the LTIP where it considers that there are
exceptional circumstances. Such exceptional circumstances may
include serious reputational damage, a failure of risk management,
an error in available financial information, which led to the award
being greater than it would otherwise have been or personal
misconduct.
-- Clawback may be applied for a period of up to three years for any LTIP awards.
Enquiries:
Investors and Analysts
Charlotte Cowley, +44 (0)7771 976764
Director of Investor Relations charlotte.cowley@astonmartin.com
Media
Kevin Watters, +44 (0)7764 386683
Director of Communications kevin.watters@astonmartin.com
Grace Barnie, +44 (0)7880 903490
Corporate Communications Manager grace.barnie@astonmartin.com
Tulchan Communications
Harry Cameron and Simon Pilkington +44 (0)20 73534200
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Tobias Moers
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Aston Martin Lagonda Global Holdings plc
b) LEI 213800167WOVOK5ZC776
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 (ISIN: GB00BN7CG237)
Identification code
b) Nature of the transaction Grant of 2020 LTIP awards
c) Price(s) and volume(s) Price(s) Volume(s)
GBP12.05 211,618
d) Aggregated information
- Aggregated volume 211,618
- Price GBP2,549,996.90
e) Date of the transaction 14 December 2020
f) Place of the transaction London
Notification of transactions by Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Kenneth Gregor
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Aston Martin Lagonda Global Holdings plc
b) LEI 213800167WOVOK5ZC776
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 (ISIN: GB00BN7CG237)
Identification code
b) Nature of the transaction Grant of 2020 LTIP awards
c) Price(s) and volume(s) Price(s) Volume(s)
GBP12.05 70,539
d) Aggregated information
- Aggregated volume 70,539
- Price GBP849,994.95
e) Date of the transaction 14 December 2020
f) Place of the transaction London
, 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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHGCBDDGDBDGGU
(END) Dow Jones Newswires
December 15, 2020 04:30 ET (09:30 GMT)
Aston Martin Lagonda Glo... (LSE:AML)
Historical Stock Chart
From Jul 2024 to Jul 2024
Aston Martin Lagonda Glo... (LSE:AML)
Historical Stock Chart
From Jul 2023 to Jul 2024
