SAGA Saga Plc

9 July 2024

Saga plc (the Company) - Director/PDMR Shareholding

Pursuant to the notification obligations under Article 19 of the Market Abuse Regulation, the Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility (PDMRs) in Ordinary Shares of 15 pence each in the Company (Shares).

Grant of Awards under the Saga plc Restricted Share Plan (RSP)

On 8 July 2024, the Company granted awards (in the form of nil-cost options) over Shares under the Saga plc RSP as set out in column 3 of the below table.

No consideration was paid for the grant of the RSP Awards which are structured as nil cost options. The number of Shares granted under each RSP award has been determined by reference to the price of a Share on Friday 5 July 2024 (111.4 pence per Share). 

The normal vesting date of the RSP Awards will be 8 July 2027, being the third anniversary of the award date.  Once vested, the RSP Awards will normally be exercisable until the day before the tenth anniversary of the award date.  The RSP Awards are subject to a two-year holding period commencing on vesting.

The RSP Awards will ordinarily vest after three years subject to the grantee's continued service and a discretionary underpin that allows the Remuneration Committee to make adjustments to the level of vesting if the Committee believes due to business performance, individual performance or wider Company considerations that the vesting should be adjusted.  This will include consideration of all relevant factors, including any windfall gains.

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