RNS Number : 4114J
Drax Group PLC
05 April 2024
 

05 April 2024

 

Drax Group plc

("Drax" or "the Company")

 

Symbol: DRX

 

Notification of Transactions of Directors,

Persons Discharging Managerial Responsibility or Connected Persons

 

 

Vesting of Deferred Share Plan Shares

On 3 April 2024, shares in Drax Group plc were issued to Will Gardiner (CEO) and Andy Skelton (CFO) as set forth in the table below.

 

The issuance was an automatic vesting on conclusion of a three-year vesting period for awards originally granted on 1 April 2021 under the Drax Group plc Deferred Share Plan (the "DSP"). The shares granted in April 2021 represented the deferred element of the annual bonus for the financial year ended 31 December 2020.

 

The Company was notified on 3 April 2024 that Will Gardiner and Andy Skelton each sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares. Shares were sold at a price of 489.1012 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period.

 

Director/PDMR

Total DSP award vesting1

Number of shares sold to meet the tax liability

Net shares retained

Will Gardiner

60,237

28,412

31,825

Andy Skelton

33,645

15,869

17,776

 

Notes:

1.     Includes shares in lieu of accrued dividends throughout the holding period.

 

Vesting of Long-Term Incentive Plan Shares

On 3 April 2024, shares in Drax Group plc were issued to Persons Discharging Managerial Responsibility ("PDMRs") as set forth in the table below.

 

The issuance was an automatic vesting on conclusion of a three-year vesting period for awards originally granted on 1 April 2021 under the Drax Group plc Long-Term Incentive Plan 2020 (the "LTIP").

 

The Company was notified on 3 April 2024 that Will Gardiner, Andy Skelton and Paul Sheffield sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares. Shares were sold at a price of 489.1012 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period. Penelope Small sold all shares arising on the vesting of the 1 April 2021 grant under the LTIP. Shares were sold at a price of 489.1012 pence per share.

 

 

 

 

 

Director/PDMR

Total LTIP award vesting

Number of shares sold to meet the tax liability

Net shares retained

Total number of shares held in the Company (incl. held by spouse)

Will Gardiner

294,746

139,018

155,728

1,272,964

Andy Skelton

168,039

79,256

88,783

577,614

Paul Sheffield

74,262

35,026

39,236

55,554

 

 

Director/PDMR

Total LTIP award vesting

Number of shares sold

Net shares retained

Total number of shares held in the Company (incl. held by spouse)

Penelope Small

73,684

73,684

0

130,425

 

 

 

The information below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

 

 

Details of PDMR / person closely associated with them ("PCA")

Name

Will Gardiner

Reason for the notification

Position / status

Group Chief Executive

Initial notification / amendment

Initial Notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00B1VNSX38

Nature of the transaction

Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to cover taxes due.

Price(s) and volume(s)

Price(s)

Volume(s)

489.1012 pence per share

139,018

489.1012 pence per share

28,412

Aggregated information

-     Aggregated volume

-     Price

 

167,430

489.1012 pence per share

Date of the transaction

03 April 2024

Place of the transaction

XLON

 

 

Details of PDMR / person closely associated with them ("PCA")

Name

Andy Skelton

Reason for the notification

Position / status

Chief Financial Officer

Initial notification / amendment

Initial Notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00B1VNSX38

Nature of the transaction

Automatic vesting of the LTIP and DSP awards and sale of sufficient shares to cover taxes due.

Price(s) and volume(s)

Price(s)

Volume(s)

489.1012 pence per share

79,256

489.1012 pence per share

15,869

Aggregated information

-     Aggregated volume

-     Price

 

95,125

489.1012 pence per share

Date of the transaction

03 April 2024

Place of the transaction

XLON

 

 

 

Details of PDMR / person closely associated with them ("PCA")

Name

Paul Sheffield

Reason for the notification

Position / status

Chief Commercial Officer

Initial notification / amendment

Initial Notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00B1VNSX38

Nature of the transaction

Automatic vesting of the LTIP award and sale of sufficient shares to cover taxes due.

Price(s) and volume(s)

Price(s)

Volume(s)

489.1012 pence per share

35,026

 

 

Aggregated information

-     Aggregated volume

-     Price

 

n/a

Date of the transaction

03 April 2024

Place of the transaction

XLON

 

 

 

 

Details of PDMR / person closely associated with them ("PCA")

Name

Penelope Small

Reason for the notification

Position / status

Interim Chief Operations Officer

Initial notification / amendment

Initial Notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Drax Group plc

LEI

549300YPSNTXR4ZHSR98

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

Description of the financial instrument

Identification code

Ordinary shares of 11 16/29 pence

GB00B1VNSX38

Nature of the transaction

Automatic vesting of the LTIP award and sale of all vested shares.

Price(s) and volume(s)

Price(s)

Volume(s)

489.1012 pence per share

73,684

 

 

Aggregated information

-     Aggregated volume

-     Price

 

n/a

Date of the transaction

03 April 2024

Place of the transaction

XLON

 

 

--ENDS--

 

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