Grant of Share Incentives to PDMRs
Nil-cost share options and deferred bonus awards granted to four senior executives under LTIP and DBP schemes.
- James Gundy LTIP nil-cost options 169,039
- Tris Simmonds LTIP nil-cost options 133,452
- Grant Foley LTIP nil-cost options 67,467
- James Gundy DBP deferred shares 104,982
- Tris Simmonds DBP deferred shares 44,484
- Alistair Borthwick DBP deferred shares 8,897
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Braemar Plc (LSE: BMS), a leading international shipbroker and provider of expert investment, chartering, and risk management advice to the shipping and energy markets, announces that the following grants of nil-cost options were made under the Braemar Long Term Incentive Plan (the "LTIP") over the Company's ordinary shares of 10p to the following PDMRs on 8 December 2023:
| PDMR | Number of nil-cost options over ordinary shares |
|---|---|
| James Gundy - Group Chief Executive Officer | 169,039 |
| Tris Simmonds - Group Chief Operations Officer | 133,452 |
| Grant Foley - Group Chief Financial Officer | 67,467 |
In all cases, there is no consideration for the grant of the awards and the exercise price is nil. The awards will vest in three years' time subject to the rules of the LTIP and the performance criteria being satisfied. The performance criteria is based on the Company's growth in Earnings Per Share ("EPS") measured over a three-year performance period ending on 28 February 2026. The EPS measure will be adjusted to eliminate 50% of the impact of changes in the USD foreign exchange rate over the three-year performance period. Any shares acquired under such LTIP awards are subject to a further two-year holding period.
In addition, the Company granted the following awards over ordinary shares of 10p each under the Company's Deferred Bonus Plan (the "DBP") on 8 December 2023 to the following PDMRs in relation to the individuals' annual bonuses in respect of the 2022/23 financial year:
| PDMR | Number of ordinary shares of 10p each over which awards were granted |
|---|---|
| James Gundy - Group Chief Executive Officer | 104,982 |
| Tris Simmonds - Group Chief Operations Officer | 44,484 |
| Alistair Borthwick - Group Finance Director | 8,897 |
In all cases, there was no consideration for the grant of the DBP awards, which will vest on 9 July 2026.
Further information on the LTIP and DBP is contained in the Company's 2023 Annual Report.
| Name | James Gundy |
| Reason for the notification Position/status | Group Chief Executive Officer |
| Initial notification /Amendment | Initial |
| Name | Braemar Plc |
| LEI | 213800EV6IKTTHJ83C19 |
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each |
| Identification code | GB0000600931 |
| Nature of the transaction | Grant of LTIP awards of nil cost options over ordinary shares of 10p each. |
| Price(s) and volume(s) | Price: Nil Volume: 169,039 |
| Aggregated information - Aggregated volume - Price | 169,039 Nil |
| Date of the transaction | 8 December 2023 |
| Place of the transaction | Grant of awards occurred outside a trading venue. |
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each |
| Identification code | GB0000600931 |
| Nature of the transaction | Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan . |
| Price(s) and volume(s) | Price: Nil Volume: 104,982 |
| Aggregated information - Aggregated volume - Price | 104,982 Nil |
| Date of the transaction | 8 December 2023 |
| Place of the transaction | Grant of awards occurred outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| Name | Tris Simmonds |
| Reason for the notification Position/status | Group Chief Operations Officer |
| Initial notification /Amendment | Initial |
| Name | Braemar Plc |
| LEI | 213800EV6IKTTHJ83C19 |
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each |
| Identification code | GB0000600931 |
| Nature of the transaction | Grant of LTIP awards of nil cost options over ordinary shares of 10p each. |
| Price(s) and volume(s) | Price: Nil Volume: 133,452 |
| Aggregated information - Aggregated volume - Price | 133,452 Nil |
| Date of the transaction | 8 December 2023 |
| Place of the transaction | Grant of awards occurred outside a trading venue. |
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each |
| Identification code | GB0000600931 |
| Nature of the transaction | Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan . |
| Price(s) and volume(s) | Price: Nil Volume: 44,484 |
| Aggregated information - Aggregated volume - Price | 44,484 Nil |
| Date of the transaction | 8 December 2023 |
| Place of the transaction | Grant of awards occurred outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| Name | Alistair Borthwick |
| Reason for the notification Position/status | Group Finance Director |
| Initial notification /Amendment | Initial |
| Name | Braemar Plc |
| LEI | 213800EV6IKTTHJ83C19 |
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each |
| Identification code | GB0000600931 |
| Nature of the transaction | Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan . |
| Price(s) and volume(s) | Price: Nil Volume: 8,897 |
| Aggregated information - Aggregated volume - Price | 8,897 Nil |
| Date of the transaction | 8 December 2023 |
| Place of the transaction | Grant of awards occurred outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| Name | Grant Foley |
| Reason for the notification Position/status | Group Chief Financial Officer |
| Initial notification /Amendment | Initial |
| Name | Braemar Plc |
| LEI | 213800EV6IKTTHJ83C19 |
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each |
| Identification code | GB0000600931 |
| Nature of the transaction | Grant of LTIP awards of nil cost options over ordinary shares of 10p each. |
| Price(s) and volume(s) | Price: Nil Volume: 67,467 |
| Aggregated information - Aggregated volume - Price | 67,467 Nil |
| Date of the transaction | 8 December 2023 |
| Place of the transaction | Grant of awards occurred outside a trading venue. |
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