XPS Pensions Group PLC Director/PDMR Shareholding (1502G)
17 Julio 2023 - 1:00AM
UK Regulatory
TIDMXPS
RNS Number : 1502G
XPS Pensions Group PLC
17 July 2023
17 July 2023
XPS Pensions Group plc
(the "Company")
TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
XPS announces that, on 17 July 2023, Ben Bramhall (Co-Chief
Executive Officer), Paul Cuff (Co-Chief Executive Officer) and
Snehal Shah (Chief Financial Officer), all Directors and persons
discharging managerial responsibilities ("PDMRs"), were granted
awards under the Company's Performance Share Plan ("PSP") as set
out below.
The value of the awards was calculated by reference to the price
of an ordinary share on 14 July 2023, being GBP1.87. The awards
were structured as main awards of 150% of salary for the Co-Chief
Executive Officers and 125% of salary for the Chief Financial
Officer; and an additional one-off award of 25% of salary granted
to the Co-Chief Executive Officers and Chief Financial Officer. The
awards were made in the form of nominal-cost options which will
generally become exercisable on the third anniversary of the date
of grant, subject to the satisfaction of performance targets as set
out below.
The main awards are subject to 3 performance targets; (1) 70% of
the awards are subject to an Earnings Per Share (EPS) growth target
whereby 25% vests for compounded annual growth (CAG) of 5% and 100%
vests for CAG of 10% (with vesting on a straight-line basis for
performance between 5% and 10% CAG and no vesting for performance
below 5% CAG); (2) 20% of the awards are subject to a relative
Total Shareholder Return (TSR) target whereby 25% vests for median
ranking and 100% vests for upper quartile ranking (with vesting on
a straight-line basis for performance between median and upper
quartile ranking and no vesting for a ranking below median), the
TSR Comparator Group consists of the constituents of the FTSE Small
Cap Index (excluding investment trusts); and (3) 10% of the awards
are subject to a performance measure relating to reducing the
Company's CO2 emissions (scope 1 and 2), whereby 25% vests for 20%
reduction in emissions / number of employees and 100% vests for 30%
reduction in emissions / number of employees (with vesting on a
straight-line basis for reduction between 20% and 30% and no
vesting for a reduction less than 20%).
100% of the additional awards are subject to an Earnings Per
Share (EPS) growth target, whereby 25% vests for compounded annual
growth (CAG) of 10% and 100% vests for CAG of 15% (with vesting on
a straight-line basis for performance between 10% and 15% CAG and
no vesting for performance below 10% CAG).
Once vested, the options will be exercisable until the tenth
anniversary of the date of grant, unless the exercise period is
shortened in accordance with the PSP rules.
Further details are set out in the below notification, made in
accordance with the requirements of the UK Market Abuse
Regulation.
1. Details of PDMR/person closely associated with them ('PCA')
========================================================================
a) Name Benjamin Bramhall
=== ============================= =========================================
b) Position/status Co-Chief Executive Officer / PDMR
=== ============================= =========================================
c) Initial notification/ Initial notification
amendment
=== ============================= =========================================
2. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ========================================================================
a) Name XPS Pensions Group plc
=== ============================= =========================================
b) LEI 2138004Y8OBPJEAACJ11
=== ============================= =========================================
3. 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 transaction(s)
has been conducted
=== ========================================================================
a) Description of the financial Ordinary shares of 0.05 pence each
instrument ("Ordinary Shares")
ISIN: GB00BDDN1T20
=== ============================= =========================================
b) Nature of the transaction Grant of nominal-cost option over
Ordinary Shares under the XPS Pensions
Group plc Performance Share Plan,
which will vest on 17 July 2026, subject
to the satisfaction of performance
conditions.
=== ============================= =========================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.05p 333,200 Ordinary
Shares
-----------------
=== ============================= =========================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ============================= =========================================
e) Date of the transaction 17 July 2023
=== ============================= =========================================
f) Place of the transaction London Stock Exchange (XLON)
=== ============================= =========================================
1. Details of PDMR/person closely associated with them ('PCA')
========================================================================
a) Name Paul Cuff
=== ============================= =========================================
b) Position/status Co-Chief Executive Officer / PDMR
=== ============================= =========================================
c) Initial notification/ Initial notification
amendment
=== ============================= =========================================
2. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ========================================================================
a) Name XPS Pensions Group plc
=== ============================= =========================================
b) LEI 2138004Y8OBPJEAACJ11
=== ============================= =========================================
3. 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 transaction(s)
has been conducted
=== ========================================================================
a) Description of the financial Ordinary shares of 0.05 pence each
instrument ("Ordinary Shares")
ISIN: GB00BDDN1T20
=== ============================= =========================================
b) Nature of the transaction Grant of nominal-cost option over
Ordinary Shares under the XPS Pensions
Group plc Performance Share Plan,
which will vest on 17 July 2026, subject
to the satisfaction of performance
conditions.
=== ============================= =========================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.05p 333,200 Ordinary
Shares
-----------------
=== ============================= =========================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ============================= =========================================
e) Date of the transaction 17 July 2023
=== ============================= =========================================
f) Place of the transaction London Stock Exchange (XLON)
=== ============================= =========================================
1. Details of PDMR/person closely associated with them ('PCA')
========================================================================
a) Name Snehal Shah
=== ============================= =========================================
b) Position/status Chief Financial Officer / PDMR
=== ============================= =========================================
c) Initial notification/ Initial notification
amendment
=== ============================= =========================================
2. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ========================================================================
a) Name XPS Pensions Group plc
=== ============================= =========================================
b) LEI 2138004Y8OBPJEAACJ11
=== ============================= =========================================
3. 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 transaction(s)
has been conducted
=== ========================================================================
a) Description of the financial Ordinary shares of 0.05 pence each
instrument ("Ordinary Shares")
ISIN: GB00BDDN1T20
=== ============================= =========================================
b) Nature of the transaction Grant of nominal-cost option over
Ordinary Shares under the XPS Pensions
Group plc Performance Share Plan,
which will vest on 17 July 2026, subject
to the satisfaction of performance
conditions.
=== ============================= =========================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.05p 241,239 Ordinary
Shares
-----------------
=== ============================= =========================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ============================= =========================================
e) Date of the transaction 17 July 2023
=== ============================= =========================================
f) Place of the transaction London Stock Exchange (XLON)
=== ============================= =========================================
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END
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July 17, 2023 02:00 ET (06:00 GMT)
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