Director/PDMR Shareholding
Dialight PLC announced on March 25, 2026, that Executive Chair Neil Johnson and CEO Steve Blair were each granted 15 units under the 2024 Value Creation Plan (VCP) with a hurdle price of 350p, bringing their total to 350 units each, representing the maximum allocation. CFO Mark Fryer received 80 VCP units, increasing his total to 250 units, with performance testing periods ending March 31, 2027, and March 31, 2028, for these awards, which are intended to align management with shareholder interests and reflect their contributions to the company's turnaround.
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At Dialight's 2024 AGM a resolution was passed approving the creation of the VCP. A copy of the VCP rules (VCP Rules) is available at www.dialight.com/ir/shareholder-information/general-meetings/.
On 23 March 2026, Neil Johnson (Executive Chair) and Steve Blair (CEO) were each granted an additional 15 units in the VCP (Units) at a share hurdle price of 350p/share (the Hurdle Price) in accordance with the VCP Rules. 8 Units awarded to each recipient will have a performance testing period ending on 31 March 2027 and 7 Units awarded to each recipient will have a performance testing period ending on 31 March 2028, taking the total units awarded under the plan to 350 Units each, the maximum allocation under the VCP Rules. No further awards will therefore be granted to either Mr Johnson or Mr Blair.
Mark Fryer (CFO) was granted an additional 80 units in the VCP (Units) at a share hurdle price of 350p/share (the Hurdle Price) in accordance with the VCP Rules. 40 Units will have a performance testing period ending on 31 March 2027 and 40 Units will have a performance testing period ending on 31 March 2028, taking Mr Fryer's total award under the plan to 250 Units.
The grant of the additional awards reflects the significant contribution of Neil, Steve and Mark in the turnaround of the Company and is intended to ensure their ongoing alignment with shareholders' long-term interests and commitment to Dialight. At this stage, it is not anticipated that any further VCP awards will be made.
Performance against the Hurdle Price (as may be adjusted under the VCP Rules) will be tested at the end of each of the performance periods and share options granted to the recipient in proportion to the extent to which the Hurdle Price has been exceeded. Any share options granted (or shares issued on exercise of such options) will ordinarily be required to be held for a further 2 years (subject to the VCP Rules) and are subject to malus and clawback provisions.
A nominal £1 will be paid by all recipients in consideration of the grant of the Units.
| 1. | DETAILS OF PDMR / PERSON CLOSELY ASSOCIATED: | ||||
| (a) | Name | Neil Johnson | |||
| 2. | REASON FOR THE NOTIFICATION: | ||||
| (a) | Position / Status | Director - Group C hair | |||
| (b) | Initial notification / amendment | Initial notification | |||
| (a) | Name | Dialight plc | |||
| (b) | LEI | 2138001AD31KKD29Z495 | |||
| (a) | Description of the financial instrument, type of instrument | V CP U nits entitling recipient to the grant of options over o rdinary shares of 1.89 pence each in Dialight plc in the event that certain performance conditions are met. | |||
| Identification code | GB0033057794 | ||||
| (b) | Nature of the transaction | Grant of VCP Units awards entitling recipient to the issue of share options in Dialight plc under the Dialight PLC 2024 Value Creation Plan. | |||
| (c) | Price (pence) and volume | Price(s): | N/A | Volume(s): | 15 Units |
| (d) | Aggregated information - aggregated volume - price (pence) | 350 units | |||
| (e) | Date of the transaction | 24 March 2026 | |||
| (f) | Place of the transaction | Outside a trading venue | |||
| 1. | DETAILS OF PDMR / PERSON CLOSELY ASSOCIATED: | ||||
| (a) | Name | Steve Blair | |||
| 2. | REASON FOR THE NOTIFICATION: | ||||
| (a) | Position / Status | Director - Group CEO | |||
| (b) | Initial notification / amendment | Initial notification | |||
| (a) | Name | Dialight plc | |||
| (b) | LEI | 2138001AD31KKD29Z495 | |||
| (a) | Description of the financial instrument, type of instrument | V CP U nits entitling recipient to the grant of options over o rdinary shares of 1.89 pence each in Dialight plc in the event that certain performance conditions are met. | |||
| Identification code | GB0033057794 | ||||
| (b) | Nature of the transaction | Grant of VCP Units awards entitling recipient to the issue of share options in Dialight plc under the Dialight PLC 2024 Value Creation Plan. | |||
| (c) | Price (pence) and volume | Price(s): | N/A | Volume(s): | 15 Units |
| (d) | Aggregated information - aggregated volume - price (pence) | 350 units | |||
| (e) | Date of the transaction | 24 March 2026 | |||
| (f) | Place of the transaction | Outside a trading venue | |||
| 1. | DETAILS OF PDMR / PERSON CLOSELY ASSOCIATED: | ||||
| (a) | Name | Mark Fryer | |||
| 2. | REASON FOR THE NOTIFICATION: | ||||
| (a) | Position / Status | Director - Group C FO | |||
| (b) | Initial notification / amendment | Initial notification | |||
| (a) | Name | Dialight plc | |||
| (b) | LEI | 2138001AD31KKD29Z495 | |||
| (a) | Description of the financial instrument, type of instrument | V CP U nits entitling recipient to the grant of options over o rdinary shares of 1.89 pence each in Dialight plc in the event that certain performance conditions are met. | |||
| Identification code | GB0033057794 | ||||
| (b) | Nature of the transaction | Grant of VCP Units awards entitling recipient to the issue of share options in Dialight plc under the Dialight PLC 2024 Value Creation Plan. | |||
| (c) | Price (pence) and volume | Price(s): | N/A | Volume(s): | 80 Units |
| (d) | Aggregated information - aggregated volume - price (pence) | 250 units | |||
| (e) | Date of the transaction | 24 March 2026 | |||
| (f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.