TIDMAML
RNS Number : 7367A
Aston Martin Lagonda Glob.Hldgs PLC
26 May 2023
26 May 2023
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
24 May 2023.
Long-term Incentive Plan awards
In accordance with the rules of the Aston Martin Lagonda
Long-Term Incentive Plan 2018 ("LTIP"), the Director named below
was granted nil-cost options over Shares as follows:
-- Doug Lafferty (CFO) - 352,852 shares (200% of salary)
The LTIP award is the 2023 grant and is 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 2022, and as disclosed in the 2022
Directors' Remuneration Report.
2023 LTIP performance measures and targets
2023 LTIP targets Vesting*
(as a % of maximum)
-------------------- ---------- --------------------
Adjusted EBITDA Threshold 400 20%
(GBPm in FY25)
(80% of award)
Stretch 475 80%
Maximum 550 100%
------------------------------- -------------------- --------------------
Relative TSR**
(vs. luxury peers)
(20% of award) Threshold Rank 6(th) (median) 20%
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
Performance for both measures will be measured over three
financial years to 31 December 2025. Subject to performance, awards
will vest 3 years from grant, following the announcement of results
for 2025 but subject to a further 2-year holding period post vest
(net of tax).
The CFO will be required to hold at least 75% of any shares that
vest (net of tax) until he has met his shareholding guidelines
under the shareholding policy.
Deferred Share Bonus Plan awards
In accordance with the rules of the Aston Martin Lagonda
Deferred Share Bonus Plan 2018 ("DBSP"), the Directors named below
were granted nil-cost options over Shares as follows:
-- Amedeo Felisa (CEO) - 5,820 shares
-- Doug Lafferty (CFO) - 12,221 shares
The DBSP awards are in relation to the 2022 annual bonus which,
as disclosed in the 2022 Directors' Remuneration Report, was to be
delivered 50% in cash and 50% in deferred shares. The number of
shares granted reflects the net bonus amount (post tax and NI).
Shares under the DBSP awards are deferred for a period of 3 years
from grant and will be released, subject to continued employment,
on 24 May 2026.
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 and DBSP 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 and DBSP awards.
Enquiries
Investors and Analysts
Sherief Bakr Director of Investor Relations +44 (0)7789 177547
sherief.bakr@astonmartin.com
Holly Grainger Deputy Head, Investor Relations +44 (0)7442 989551
holly.grainger@astonmartin.com
Media
Kevin Watters Director of Communications +44 (0)7764 386683
kevin.watters@astonmartin.com
Paul Garbett Head of Corporate and Brand +44 (0)7501 380799
Communications paul.garbett@astonmartin.com
Teneo
Harry Cameron +44 (0)20 7353 4200
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 Doug Lafferty
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
Identification code
ISIN: GB00BN7CG237
b) Nature of the transaction Grant of 2023 LTIP awards
c) Price(s) and volume(s) Price(s) Volume(s)
nil 352,852
d) Aggregated information
- Aggregated volume 352,852
- Price nil
e) Date of the transaction 24 May 2023
f) Place of the transaction Outside a trading venue
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 Amedeo Felisa
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
Identification code
ISIN: GB00BN7CG237
b) Nature of the transaction Grant of 2023 DBSP awards
c) Price(s) and volume(s) Price(s) Volume(s)
nil 5,820
d) Aggregated information
- Aggregated volume 5,820
- Price nil
e) Date of the transaction 24 May 2023
f) Place of the transaction Outside a trading venue
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 Doug Lafferty
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
Identification code ISIN: GB00BN7CG237
b) Nature of the transaction Grant of 2023 DBSP awards
c) Price(s) and volume(s) Price(s) Volume(s)
nil 12,221
d) Aggregated information
- Aggregated volume 12,221
- Price nil
e) Date of the transaction 24 May 2023
f) Place of the transaction Outside a trading venue
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