QinetiQ Group plc Director/PDMR Shareholding
July 03 2024 - 5:00AM
RNS Regulatory News
RNS Number : 9678U
QinetiQ Group plc
03 July 2024
QinetiQ Group
plc (the "Company")
3
July 2024
Notification and public disclosure of transactions by persons
discharging managerial responsibilities or persons closely
associated with them
The Company announces that on 1 July
2024, the following share transactions occurred in respect of Steve
Wadey, its Group Chief Executive Officer / Director / Person
Discharging Managerial Responsibility ("PDMR"):
Bonus Banking Plan
Vesting of notional awards granted
in 2020, 2021, 2022 and 2023 under the Bonus Banking Plan
("BBP") as Ordinary Shares
of 1 pence each in the Company ("Ordinary Shares") as described in the table
below:
PDMR
|
Shares
vesting
|
Dividend equivalent shares
received
|
Total balance
shares
|
Shares sold to cover tax
liability
|
Balance of remaining
shares
|
Steve
Wadey
|
322,568
|
6,983
|
329,551
|
155,335
|
174,216
|
This is the last award due to vest
under the BBP, a legacy plan which formed part the 2017 Group
Incentive Plan, and which has been replaced with the Annual Bonus
Plan (approved by Shareholders at the 2023 AGM).
Annual Bonus Plan
The Remuneration Committee have
confirmed the award of the Bonus Shares element of the FY24 Annual
Bonus Plan ("ABP"), comprising 30% of the value of the FY24 ABP
award. As a result, 30% of the FY24 ABP award will vest as Ordinary
Shares on 1 July 2026, as described in the table below:
PDMR
|
%
Determination
|
Number of
Shares
|
Normal Bonus Share Vesting
Date
|
Steve
Wadey
|
30%
|
78,911
|
1 July
2026
|
Long Term Performance Award
Plan
A conditional award of Ordinary
Shares was granted under the QinetiQ Group plc Long Term
Performance Award ("LPA")
Plan over the following maximum number of shares:
PDMR
|
Number of
Shares
|
Normal Vesting
Date
|
Steve
Wadey
|
387,456
|
1 July
2027
|
The LPA was approved by Shareholders
at the 2023 AGM and replaces the Deferred Share Plan ("DSP"), a legacy plan which formed part
of the 2017 Group Incentive Plan.
The Notification of Dealing Forms for
the above transactions are set out below. These notifications are
provided in accordance with the requirements of the UK Market Abuse
Regulation.
1.
|
Details of PDMR / person closely associated with them
("PCA")
|
a)
|
Name
|
Steve Wadey
|
2
|
Reasons for the Notification
|
a)
|
Position /
status
|
Chief Executive
Officer/Director
|
b)
|
Initial
notification / amendment
|
Initial notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a
|
Name
|
QinetiQ Group plc
("QinetiQ")
|
b
|
LEI
|
213800S8OBDOZMCMUW34
|
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
|
QinetiQ Group plc ordinary shares
of 1 pence
GB00B0WMWD03
|
b)
|
Nature of
the transaction
|
Vesting of awards granted in 2020,
2021, 2022 and 2023 under the Bonus Banking Plan (Element A of the
2017 QinetiQ Group plc Incentive Plan) and sale of sufficient
shares in order to satisfy Income Tax and National Insurance
Contributions required to be withheld on release.
|
c)
|
Currency
|
GBP - British Pound
|
d)
|
Price(s)
and volume(s)
|
Price(s)
Volume(s)
Vesting
Nil
329,551
Sale of shares
to satisfy income
Tax and NICs
liability
£4.42374
155,335
Transfer of
shares
Nil
174,216
|
e)
|
Aggregated information
- Aggregated
volume
- Price
|
Vesting:
Price
Nil / Volume: 329,551
Tax/NI
sale: Price £687,158.55 /
Volume 155,335
Transfer:
Price Nil / Volume 174,216
|
f)
|
Date of the
transaction
|
01-07-2024
|
g)
|
Place of
the transaction
|
London Stock Exchange (XLON)
|
1.
|
Details of PDMR / person closely associated with them
("PCA")
|
a)
|
Name
|
Steve Wadey
|
2
|
Reasons for the Notification
|
a)
|
Position /
status
|
Chief Executive
Officer/Director
|
b)
|
Initial
notification / amendment
|
Initial notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a
|
Name
|
QinetiQ Group plc
("QinetiQ")
|
b
|
LEI
|
213800S8OBDOZMCMUW34
|
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
|
QinetiQ Group plc ordinary shares
of 1 pence
GB00B0WMWD03
|
b)
|
Nature of
the transaction
|
Determination of the % of Bonus
Shares due to vest on 1 July 2026 under the QinetiQ Group plc
Annual Bonus Plan.
|
c)
|
Currency
|
GBP - British Pound
|
d)
|
Price(s)
and volume(s)
|
Price(s)
Volume(s)
Determination
NIL
78,911
|
e)
|
Aggregated information
- Aggregated
volume
- Price
|
Single Transaction
|
f)
|
Date of the
transaction
|
01-07-2024
|
g)
|
Place of
the transaction
|
Outside a trading venue
|
1.
|
Details of PDMR / person closely associated with them
("PCA")
|
a)
|
Name
|
Steve Wadey
|
2
|
Reasons for the Notification
|
a)
|
Position / status
|
Chief Executive
Officer/Director
|
b)
|
Initial
notification / amendment
|
Initial notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a
|
Name
|
QinetiQ Group plc ("QinetiQ")
|
b
|
LEI
|
213800S8OBDOZMCMUW34
|
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
|
QinetiQ Group plc ordinary shares
of 1 pence
GB00B0WMWD03
|
b)
|
Nature of
the transaction
|
Grant of conditional awards over
387,456 Ordinary Shares under the QinetiQ Group plc Long Term
Performance Award
|
c)
|
Currency
|
GBP - British Pound
|
d)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
Nil
|
387,456
|
|
e)
|
Aggregated information
- Aggregated
volume
- Price
|
Single Transaction
|
f)
|
Date of the
transaction
|
01-07-2024
|
g)
|
Place of
the transaction
|
Outside a trading venue
|
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