PDMR grant of EIP share options

RNS Number : 8632W
AJ Bell PLC
13 December 2019
 

13 December 2019

 

AJ Bell plc

("AJ Bell", the "Company")

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

On 12 December 2019, AJ Bell granted annual and deferred awards over the Company's ordinary shares of £0.000125 each (Ordinary Shares) to the following executive directors and senior managers, all of whom are PDMRs, under the AJ Bell Executive Incentive Plan (EIP) in respect of bonuses for the year ending 30 September 2020.

Number

Name

Position of PDMR

Number of shares subject to annual award

Number of shares subject to deferred award

1.  

Andrew Bell

Chief Executive Officer

90,103

135,154

2.  

Michael Summersgill

Chief Financial Officer

33,741

50,611

3.  

Fergus Lyons

AJ Bell Investcentre Managing Director

23,924

15,949

4.  

Charles Galbraith

AJ Bell Youinvest Managing Director

22,636

15,090

5.  

Roger Stott

Group Finance Director

11,983

7,989

6.  

Louis Petherick

Chief Risk Officer

8,017

5,344

7.  

Bruce Robinson

Group Legal Services Director and Company Secretary

5,521

3,680

8.  

Mohamed Tagari

Chief Technology Officer

20,760

36,284

 

 

 

 

 

No consideration was paid for the grant of the awards, which have been structured as nominal cost options. 

In the case of the Executive Directors, Andrew Bell and Michael Summersgill:

a)   the annual awards will normally vest once it has been determined if, and the extent to which, the performance conditions have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020.

 

b)   the deferred awards will, subject to the satisfaction of the performance conditions, normally vest on 30 September 2023.

 

c)   both the annual awards and the deferred awards will be subject to a holding period which expires on 30 September 2024, and will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant.

In the case of the Senior Managers, Fergus Lyons, Charles Galbraith, Roger Stott, Louis Petherick, Bruce Robinson and Mohamed Tagari:

a)   the annual awards will normally vest once it has been determined if, and the extent to which, the performance conditions have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020.

 

b)   the deferred awards will, subject to the satisfaction of the performance conditions, normally vest on 30 September 2022.

 

c)   both the annual awards and the deferred awards will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant.

In the case of the awards made to Andrew Bell and Fergus Lyons, as they are members of a concert party in relation to the Company, the awards were made conditional upon the independent shareholders of the Company passing an ordinary resolution approving the grant of a waiver under rule 9 of the Takeover Code at the annual general meeting of the Company which is due to be held on 22 January 2020 (or any adjournment of that meeting). If that resolution is not passed, their awards will lapse.

 

For further information, please contact:

AJ Bell plc

Bruce Robinson, Company Secretary                                                     +44 (0) 780 234 4859

 



 

AJ Bell plc

Notification of person discharging managerial responsibilities/ person closely associated

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Andrew Bell

 

2.

Reason for the notification

a)

Position/status

Chief Executive Officer/PDMR

 

b)

Initial notification/ Amendment

 

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

Ordinary shares of £0.000125 each

 

 

 

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.  Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2023.

 

c)

Price(s) and volume(s)

Type of award

 

Price(s)

Volume(s)

Annual award

 

£0.000125

90,103

Deferred award

 

£0.000125

135,154

d)

Aggregated information

 

Aggregated volume

price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Michael Summersgill

 

2.

Reason for the notification

a)

Position/status

Chief Financial Officer/PDMR

 

b)

Initial notification/ Amendment

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

Ordinary shares of £0.000125 each

 

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.  Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2023

 

c)

Price(s) and volume(s)

 Type of award

 

Price(s)

Volume(s)

Annual award

 

£0.000125

33,741

Deferred award

 

£0.000125

50,611

d)

Aggregated information

 

Aggregated volume

Price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Fergus Lyons

 

2.

Reason for the notification

a)

Position/status

AJ Bell Investcentre Managing Director/PDMR

 

b)

Initial notification/ Amendment

 

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

 

Ordinary shares of £0.000125 each

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.   Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022

 

c)

Price(s) and volume(s)

Type of award

Price(s)

Volume(s)

Annual award

£0.000125

23,924

Deferred award

£0.000125

15,949

d)

Aggregated information

 

Aggregated volume

Price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Charles Galbraith

 

2.

Reason for the notification

a)

Position/status

AJ Bell Youinvest Managing Director/PDMR

 

b)

Initial notification/ Amendment

 

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of £0.000125 each

 

 

 

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.   Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022

 

c)

Price(s) and volume(s)

Type of award

Price(s)

Volume(s)

Annual award

£0.000125

22,636

Deferred award

£0.000125

15,090

d)

Aggregated information

 

Aggregated volume

Price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Roger Stott

 

2.

Reason for the notification

a)

Position/status

Group Finance Director/PDMR

 

b)

Initial notification/ Amendment

 

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

 Ordinary shares of £0.000125 each

 

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.   Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022

c)

Price(s) and volume(s)

Type of award

Price(s)

Volume(s)

Annual award

£0.000125

11,983

Deferred award

£0.000125

7,989

d)

Aggregated information

 

Aggregated volume

Price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Louis Petherick

 

2.

Reason for the notification

a)

Position/status

Chief Risk Officer/PDMR

 

b)

Initial notification/ Amendment

 

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

 Ordinary shares of £0.000125 each

 

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.   Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022.  

c)

Price(s) and volume(s)

Type of award

Price(s)

Volume(s)

Annual award

£0.000125

8,017

Deferred award

£0.000125

5,344

d)

Aggregated information

 

Aggregated volume

Price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Bruce Robinson

 

2.

Reason for the notification

a)

Position/status

Group Legal Services Director and Company Secretary/PDMR

 

b)

Initial notification/ Amendment

 

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

 Ordinary shares of £0.000125 each

 

 

 

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.  Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022

 

c)

Price(s) and volume(s)

Type of award

Price(s)

Volume(s)

Annual award

£0.000125

5,521

Deferred award

£0.000125

3,680

d)

Aggregated information

 

Aggregated volume

Price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/ person closely associated

a)

Name

Mohamed Tagari

 

2.

Reason for the notification

a)

Position/status

Chief Technology Officer/PDMR

 

b)

Initial notification/ Amendment

 

This is an initial notification

3.

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

a)

Name

AJ Bell plc

 

b)

LEI

213800VNKA7DPWXWJJ36

 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

 Ordinary shares of £0.000125 each

 

 

 

Identification code

ISIN: GB00BFZNLB60

b)

Nature of the transaction

1.  Grant of an Annual Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for the Award have been satisfied, which will ordinarily be within 75 days of the end of the performance period on 30 September 2020; and

 

2.  Grant of a Deferred Award under the Executive Incentive Plan. The Award is structured as a nominal cost option which will ordinarily vest if, and the extent to which, the performance conditions set for the Award have been satisfied, on 30 September 2022

 

c)

Price(s) and volume(s)

Type of award

Price(s)

Volume(s)

Annual award

£0.000125

20,760

Deferred award

£0.000125

36,284

d)

Aggregated information

 

Aggregated volume

Price

 

Not applicable single transaction

e)

Date of the transaction

12 December 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

 


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