26 November 2024
Softcat plc (the
"Company")
Notification of Transactions
by
Persons Discharging
Managerial Responsibilities
The following notification made
under article 19.1 of the Market Abuse Regulation ("MAR") relates
to awards of nil-cost options to persons
discharging managerial responsibilities ("PDMR")
on 25 November 2024 under the Softcat plc Long
Term Incentive Plan ("LTIP"). This announcement is made in
accordance with Article 19.3 of MAR.
Softcat plc Long Term
Incentive Plan
On 25 November 2024, awards under
the Company's Long Term Incentive Plan (the "LTIP") were made as
outlined below.
An award of nil-cost options to
acquire 54,842 Ordinary shares was made to Graham Charlton, a
director and PDMR. The number of shares over which the nil-cost
option was awarded has been calculated by reference to the
closing middle market quotation of the ordinary
shares derived from the Daily Official List on the dealing day
preceding the date of grant (1,600 pence).
The award will vest subject to the performance conditions outlined
below.
An award of nil-cost options to
acquire 35,728 Ordinary shares was made to Katy Mecklenburgh, a
director and PDMR. The number of shares over which the nil-cost
option was awarded has been calculated by reference to the
closing middle market quotation of the ordinary
shares derived from the Daily Official List on the dealing day
preceding the date of grant (1,600 pence).
The award will vest subject to the performance conditions outlined
below.
Performance Conditions and Vesting of Awards
These nil-cost options are subject
to the rules of the LTIP and will vest depending on performance
against Total Shareholder Return ("TSR") and Earnings per Share
("EPS") targets as measured over a three-year performance
period.
40% of the
Award will be subject to the Company's relative TSR performance
against the FTSE 250 (excluding real estate and investment
trusts):
TSR
performance %
of Award vesting
Below median
Nil
At
median
30%
Upper quartile or above
100%
There will be straight-line vesting
between the points as outlined above.
60% of the Award will be subject to
the Company's EPS for FY 2027:
EPS
% of Award vesting
Less than 65.9 pence
Nil
65.9 pence
20%
73.6
pence
67%
79.7 pence or
above
100%
There will be straight-line vesting
between 20% and 67% and between 67% and full vesting.
The normal date of vesting for the
nil-cost options outlined above will be 25 November 2027 and the
last date for exercise will be 24 November 2034, with dividend
equivalents payable in respect of the vesting of nil-cost options
in accordance with the rules of the LTIP.
For further information on the LTIP,
please refer to the Company's Annual Report and
Accounts.
|
1.
|
Details of PDMR / person closely associated with
them ("PCA")
|
|
a)
|
Name
|
Graham Charlton
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position / status
|
CEO
|
|
b)
|
Initial notification / amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
|
Name
|
Softcat plc
|
|
b)
|
LEI
|
213800N42YZLR9GLVC42
|
|
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
Identification Code
|
Ordinary
Shares of £0.0005 each
ISIN:
GB00BYZDVK82
|
|
b)
|
Nature of the transaction
|
Grant of nil cost option over Ordinary
Shares of £0.0005 each under the Softcat plc Long Term Incentive
Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
0.00
|
54,842
|
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
|
e)
|
Date of the transaction
|
25 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
| |
|
1.
|
Details of PDMR / person closely associated with
them ("PCA")
|
|
a)
|
Name
|
Katy Mecklenburgh
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position / status
|
CFO
|
|
b)
|
Initial notification / amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
|
Name
|
Softcat plc
|
|
b)
|
LEI
|
213800N42YZLR9GLVC42
|
|
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
Identification Code
|
Ordinary
Shares of £0.0005 each
ISIN:
GB00BYZDVK82
|
|
b)
|
Nature of the transaction
|
Grant of nil cost option over Ordinary
Shares of £0.0005 each under the Softcat plc Long Term Incentive
Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
0.00
|
35,728
|
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
|
e)
|
Date of the transaction
|
25 November 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
| |
Luke
Thomas
Company Secretary, Softcat plc
26
November 2024