Next PLC Director/PDMR Shareholding (1423N)
20 Septiembre 2019 - 11:00AM
UK Regulatory
TIDMNXT
RNS Number : 1423N
Next PLC
20 September 2019
Next plc
Notification of Transactions by Person Discharging Managerial
Responsibility and Person Closely Associated With Them
The following awards were granted to executive directors on 20
September 2019 under the Next Long Term Incentive Plan (the
"LTIP"):
Maximum No. of
Shares
Lord Wolfson of Aspley Guise 14,314
---------------
Amanda James 8,716
---------------
Richard Papp 8,449
---------------
Jane Shields 8,449
---------------
Under the terms of the LTIP the award comprises a conditional
award of shares on the following terms:
-- the award will vest following the third anniversary of the
date of grant subject to performance targets and continued
employment in the Next Group;
-- a variable percentage of the maximum number of shares above
can vest, depending on the relative Total Shareholder Return of
Next over a three year period against a comparator group;
-- for relative performance against the comparator group the percentage vesting will be
Relative performance Percentage vesting
Below median 0%
Median 20%
Upper quintile 100%
-- before any of the awards vest, the Committee must have regard
to the performance of the Company in the light of underlying
economic and other circumstances, including EPS performance of the
Company and of other UK retailers over the period;
-- to the extent that the performance condition is not met, the award will lapse completely;
-- to the extent that awards vest, dividend equivalents will be accrued; and
-- any vesting of these awards granted to executive directors
(including dividend equivalents) will be settled in shares and,
after payment of tax, the net shares received should be retained
for a period of two further years.
LTIP awards are made twice a year. The maximum number of shares
shown above is 100% of each director's base salary at the date of
each grant, divided by NEXT's average share price over the three
months prior to the start of the performance period.
The following notification made under article 19.1 of the Market
Abuse Regulation ("MAR") related to awards granted to executive
directors on 20 September 2019 under the LTIP. This announcement is
made in accordance with Article 19.3 of MAR.
1 Details of the person discharging managerial responsibilities
("PDMR") / person closely associated ("PCA")
a) Name 1. Lord Wolfson of Aspley Guise
2. Amanda James
3. Richard Papp
4. Jane Shields
--------------------------------------- -----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------
a) Position/status 1. Chief Executive (PDMR)
2. Group Finance Director (PDMR)
3. Group Merchandise and Operations
Director (PDMR)
4. Group Sales and Marketing Director
(PDMR)
--------------------------------------- -----------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
a) Name Next plc
--------------------------------------- -----------------------------------------------
b) LEI 213800WQD8ECPZP9PH98
--------------------------------------- -----------------------------------------------
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 Ordinary shares of GBP0.10 each -
financial instrument, conditional award
type of instrument
Identification code GB0032089863
b) Nature of the transaction Conditional award granted of shares
under the LTIP. Maximum number of
shares as follows:
1. Lord Wolfson of Aspley Guise -
14,314
2. Amanda James - 8,716
3. Richard Papp - 8,449
4. Jane Shields - 8,449
--------------------------------------- -----------------------------------------------
c) Price(s) and volume(s)
--------------------- ---------------------
Price(s) Volume(s)
--------------------- ---------------------
Lord Wolfson of Aspley
Guise Nil 14,314
------------------------- ---------------------
Amanda James Nil 8,716
------------------------- ---------------------
Richard Papp Nil 8,449
------------------------- ---------------------
Jane Shields Nil 8,449
------------------------- ---------------------
d) Aggregated information
- Aggregated volume n/a single transactions
- Price n/a
e) Date of the transaction 20 September 2019
--------------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -----------------------------------------------
Seonna Anderson
Company Secretary
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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