British Land Co PLC Director/PDMR Shareholding (0038Q)
June 23 2022 - 10:30AM
UK Regulatory
TIDMBLND
RNS Number : 0038Q
British Land Co PLC
23 June 2022
The British Land Company plc (the "Company")
Discretionary Share Award Vesting & SAYE Grant
On 20 June 2022 conditional awards of Ordinary Shares of 25
pence each in the Company, that were granted on 19 June 2019 under
the Company's Restricted Share Plan, vested. Subsequent sales that
were made by Persons Discharging Managerial Responsibilities
("PDMRs") upon the awards vesting are detailed below. The awards
were not subject to performance conditions.
Name of PDMR Number of shares Number of shares
that vested sold
Emma Cariaga 20,322 20,322
----------------- -----------------
Kelly Cleveland 13,935 6,738
----------------- -----------------
Sally Jones 31,270 31,270
----------------- -----------------
David Lockyer 20,322 20,322
----------------- -----------------
Roger Madelin 23,257 23,257
----------------- -----------------
Brona McKeown 22,801 11,024
----------------- -----------------
Darren Richards 31,270 15,119
----------------- -----------------
David Walker 18,580 8,984
----------------- -----------------
Nigel Webb 24,420 11,807
----------------- -----------------
Also on 20 June 2022, Bhavesh Mistry, Chief Financial Officer,
sold 66,100 ordinary shares of 25 pence each. This followed the
vesting of 136,720 performance shares comprising three separate
awards granted to Bhavesh on 19 July 2021 under the Company's Long
Term Incentive Plan to replace pre-existing awards that he
forfeited in order to join the Company. Two of the awards of 9,403
shares and 19,612 shares respectively did not have performance
conditions attached and vested in full. The third award of 124,948
shares was subject to performance conditions mirroring those of his
previous employer, of which 107,705 shares representing 86.2% of
the original award, vested.
Bhavesh sold 66,100 shares to settle tax and national insurance
and associated dealing fees arising on the vesting and retained the
balance of 70,620 shares which he must continue to hold for at
least two years in accordance with the terms of the grant.
On 22 June 2022 options over Ordinary shares of 25 pence each in
the Company were granted to PDMRs under the Company's SAYE Option
Scheme as detailed in the table below.
Options Option price SAYE contract Option exercise
granted (pence) commences period commences
Simon Carter 4,275 421 1 September 2022 1 September 2025
--------- ------------- ----------------- ------------------
Brona McKeown 4,275 421 1 September 2022 1 September 2025
--------- ------------- ----------------- ------------------
Kelly Cleveland 2,137 421 1 September 2022 1 September 2025
--------- ------------- ----------------- ------------------
David Walker 2,137 421 1 September 2022 1 September 2025
--------- ------------- ----------------- ------------------
Bhavesh Mistry 4,275 421 1 September 2022 1 September 2025
--------- ------------- ----------------- ------------------
Emma Cariaga 1,282 421 1 September 2022 1 September 2025
--------- ------------- ----------------- ------------------
The permitted exercise period for SAYE options is six months,
commencing on the dates listed above. No consideration was paid for
the grant of these options.
This disclosure is made in accordance with the UK Market Abuse
Regulation.
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name 1. Emma Cariaga
2. Kelly Cleveland
3. Sally Jones
4. David Lockyer
5. Roger Madelin
6. Brona McKeown
7. Darren Richards
8. David Walker
9. Nigel Webb
------------------------------- --------------------------------------------
Reason for the notification
2
-----------------------------------------------------------------------------
a) Position/status 1. PDMR - Executive Committee member
2. PDMR - Executive Committee member
3. PDMR - Executive Committee member
4. PDMR - Executive Committee member
5. PDMR - Executive Committee member
6. PDMR - Executive Committee member
7. PDMR - Executive Committee member
8. PDMR - Executive Committee member
9. PDMR - Executive Committee member
------------------------------- --------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- --------------------------------------------
Details of the issuer; emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name The British Land Company PLC
------------------------------- --------------------------------------------
b) LEI RV5B68J2GV3QGMRPW209
------------------------------- --------------------------------------------
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 financial Ordinary shares of 25 pence each
instrument, type of
financial instrument
Identification code GB0001367019
------------------------------- --------------------------------------------
b) Nature of the transaction Sale of ordinary shares 25 pence each
upon the vesting of conditional share
awards made under the Company's Restricted
Share Plan.
------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) (pence) Volume(s)
----------------
1. 504 1. 20,322
2. 504 2. 6,738
3. 504 3. 31,270
4. 504 4. 20,322
5. 504 5. 23,257
6. 504 6. 11,024
7. 504 7. 15,119
8. 504 8. 8,984
9. 504 9. 11,807
----------------- ----------------
------------------------------- --------------------------------------------
d) Aggregated information N/A (single transaction)
* Aggregated volume
* Price
------------------------------- --------------------------------------------
e) Date of the transaction 2022-06-20
------------------------------- --------------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
------------------------------- --------------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Bhavesh Mistry
------------------------------- ------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status PDMR - Chief Financial Officer
------------------------------- ------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ------------------------------------------
Details of the issuer; emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name The British Land Company PLC
------------------------------- ------------------------------------------
b) LEI RV5B68J2GV3QGMRPW209
------------------------------- ------------------------------------------
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 financial Ordinary shares of 25 pence each
instrument, type of
financial instrument
Identification code GB0001367019
------------------------------- ------------------------------------------
b) Nature of the transaction Sale of shares
------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------
504 66,100
--------- ----------
------------------------------- ------------------------------------------
d) Aggregated information
* Aggregated volume N/A (single transaction)
* Price
------------------------------- ------------------------------------------
e) Date of the transaction 2022-06-20
------------------------------- ------------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
------------------------------- ------------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name 1. Simon Carter
2. Brona McKeown
3. Kelly Cleveland
4. David Walker
5. Bhavesh Mistry
6. Emma Cariaga
------------------------------- -------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
a) Position/status 1. PDMR - Chief Executive Officer
2. PDMR - Executive Committee member
3. PDMR - Executive Committee member
4. PDMR - Executive Committee member
5. PDMR - Chief Financial Officer
6. PDMR - Executive Committee member
------------------------------- -------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -------------------------------------------
Details of the issuer; emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name The British Land Company PLC
------------------------------- -------------------------------------------
b) LEI RV5B68J2GV3QGMRPW209
------------------------------- -------------------------------------------
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 financial Ordinary shares of 25 pence each
instrument, type of
financial instrument
Identification code GB0001367019
------------------------------- -------------------------------------------
b) Nature of the transaction Grant of options under the Save As
You Earn Option Scheme
------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------------
1. Nil 1. 4,275
2. Nil 2. 4,275
3. Nil 3. 2,137
4. Nil 4. 2,137
5. Nil 5. 4,275
6. Nil 6. 1,282
------------- ---------------
------------------------------- -------------------------------------------
d) Aggregated information
* Aggregated volume N/A (single transaction)
* Price
------------------------------- -------------------------------------------
e) Date of the transaction 2022-06-22
------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------------
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