Deliveroo PLC Performance share awards (7568Y)
17 Mayo 2021 - 1:00AM
UK Regulatory
TIDMROO
RNS Number : 7568Y
Deliveroo PLC
17 May 2021
Deliveroo plc - Performance share awards
As referenced in the IPO prospectus, performance share awards to
the CFO will be granted within 42 days of the IPO under the terms
of the Deliveroo Incentive Plan ("DIP"). The CEO is not being
granted a share award. The table below set outs the number of
shares that have been granted to the CFO based on the IPO
price.
Awards granted will vest based on a Total Shareholder Return
(TSR) performance matrix (covering both absolute and relative TSR)
over three years with a 2 year post vesting holding period.
Relative TSR will be compared to a FTSE 100 peer group as at the
date of grant. The TSR matrix ensures that participants only
receive payouts where long term value is delivered to shareholders,
which is the company's priority. The matrix means that both
absolute and relative TSR must be exceptional in order for full
payouts to be delivered.
Details of the targets for the three year period commencing from
the admission date applying to the DIP awards, are set out below.
Payouts occur on a straight-line basis between each of the
performance points with the starting point for measurement of TSR
for Deliveroo being the IPO offer price of GBP3.90.
The company's TSR Percent Rank vs
peer group
<50% 50% 65% >=80%
(threshold) (target) (maximum)
------------------- --------------------- ------
The company's <10% per Nil Nil Nil Nil
TSR calculated annum
based on compound
annual growth
rate (CAGR)
per annum
-------------------- ------ ------------ --------- ----------
10% per
annum (threshold) Nil 25% 45% 65%
-------------------- -------------------------- ------------ --------- ----------
15% per
annum (target) Nil 45% 63.75% 82.5%
-------------------- -------------------------- ------------ --------- ----------
>=20% per
annum (maximum) Nil 65% 82.5% 100%
-------------------- -------------------------- ------------ --------- ----------
The Remuneration Committee has discretion to adjust vesting
outcomes if it is felt they are not appropriate in light of the
overall underlying company performance and shareholder experience
over the relevant period.
The attached notification, which has been made in accordance
with the requirements of the EU Market Abuse Regulation (as it
forms part of UK law pursuant to the European Union (Withdrawal)
Act 2018), provides further detail.
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Adam Miller
---------------------------- -----------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
(a) Position/status Chief Financial Officer
---------------------------- -----------------------------------------
(b) Initial notification/ Initial notification
Amendment
---------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name Deliveroo plc
---------------------------- -----------------------------------------
(b) LEI 984500F6537F74DDEE77
---------------------------- -----------------------------------------
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 Class A Ordinary Shares of 0.5p each
the financial
instrument, type
of instrument
---------------------------- -----------------------------------------
(b) Identification ISIN: GB00BNC5T391
code
---------------------------- -----------------------------------------
(c) Nature of the The grant of a conditional award over
transaction shares under the Deliveroo Incentive
Plan
---------------------------- -----------------------------------------
(d) Price(s) and volume(s) GBP0.005
769,230 shares
---------------------------- -----------------------------------------
(e) Aggregated information
* Aggregated volume
769,230
GBP3,846.15
* Price
---------------------------- -----------------------------------------
(f) Date of the transaction 15 May 2021
---------------------------- -----------------------------------------
(g) Place of the transaction Outside a trading venue
---------------------------- -----------------------------------------
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END
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