TIDMABDN

RNS Number : 7278V

abrdn PLC

11 August 2022

abrdn plc

('the Company')

Notification of Interests of Persons Discharging Managerial Responsibilities (PDMRs)

The attached notification made on behalf of a PDMR under article 19.1 of the Market Abuse Regulation ('MAR') relates to a transaction made on behalf of an Executive Director in abrdn plc shares.

This announcement is made in accordance with Article 19.3 of MAR.

CFO one-off award

On 3 June 2019 the Company granted to Stephanie Bruce, Chief Financial Officer, an award under the terms of the Company's Deferred Share plan ("Award").

The Award was granted in the form of nil-cost options to acquire ordinary shares in the Company, subject to the rules of the Deferred Share Plan and performance underpins as defined in the deed of grant and summarised in the market announcement dated 30 April 2019. As a reminder, this RNS stated that the "The Company has previously disclosed efficiency targets of at least GBP350m to be achieved by the end of 2020. GBP230m of benefits are yet to be realised. The Remuneration Committee has set a baseline of GBP175m (approximately 75% of the residual targeted saving) for the purpose of Stephanie's award, at which point two-thirds of the award will vest. The full award will vest if the residual GBP230m of savings have been achieved over the period of the award".

The Remuneration Committee reviewed the supporting information, which had been verified by the Internal Audit function, and concluded that the outcome was in excess of the stretch target of GBP230m. They therefore concluded that the overall vesting of the Award should be 100%. Since a total of 66.66% of the Award has already vested, this leaves a final vesting under Tranche 3 of 33.34% of the Award.

No consideration was payable on the grant or vesting of the above award. During the period from the Grant Date to the Vesting Date the Award carried a right to receive an amount in additional shares equal in value to any dividends that would have been paid on such shares in respect of the portion of the Award that is released. The dividend equivalent shares are reflected in the vested portion of the Award.

Details in relation to the shared acquired under Tranche 3 can be summarised as follows:

 
                         Stephanie Jane 
                              Bruce 
    Deferred Share 
         Award 
                        --------------- 
 Date of exercise          09/08/2022 
                        --------------- 
 Date of notification      10/08/2022 
                        --------------- 
 Shares vested              116,672 
                        --------------- 
 Shares acquired            116,672 
                        --------------- 
 Exercise price            GBP1.6115 
                        ---------------

Further details will be published in the 2022 Annual Report and Accounts.

abrdn plc Deferred Share Plan

On 9 April 2021 the Company granted to Stephanie Bruce, Chief Financial Officer, an award under the terms of the Company's Deferred Share plan ("Award") as a result of the deferred portion of her Annual Bonus award for 2020. Details of this grant are set out in the 2021 Annual Report and Accounts. The Award was granted in the form of nil-cost options to acquire ordinary shares in the Company, subject to the rules of the Deferred Share Plan, vesting in equal one-third tranches on the first, second and third anniversary.

During the period from the Grant Date to the Vesting Date the Award carried a right to receive an amount in additional shares equal in value to any dividends that would have been paid on such shares in respect of the portion of the Award that is released. The dividend equivalent shares are reflected in the vested portion of the Award.

Details in relation to the acquired shares from the first tranche of the award are summarised as follows:

 
                         Stephanie Jane 
                              Bruce 
    Deferred Share 
         Award 
                        --------------- 
 Date of exercise          09/08/2022 
                        --------------- 
 Date of notification      10/08/2022 
                        --------------- 
 Shares vested               23,252 
                        --------------- 
 Shares acquired             23,252 
                        --------------- 
 Exercise price            GBP1.6115 
                        ---------------

Classification: 3.1. Additional regulated information required to be disclosed under the laws of the United Kingdom

11 August 2022

Enquiries:

 
 
   Paul McKenna 
   Deputy Group Company Secretary      +44 (0) 131 372 0703*

* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.

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August 11, 2022 05:36 ET (09:36 GMT)

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