Director/PDMR Shareholding
The Law Debenture Corporation p.l.c. announced that Executive Directors Denis Jackson and Trish Houston received deferred share awards under the Deferred Share Bonus Plan on March 19, 2026, with Jackson receiving 6,009 awards and Houston receiving 2,624 awards, both at nil consideration. Additionally, Jackson was awarded 62,433 nil cost options and Houston 47,195 nil cost options under the Long Term Incentive Plan, with a total of 157,149 nil cost options granted to senior management. These awards are subject to a three-year vesting period based on profit growth and a two-year holding period post-vesting.
Select text to share a quote on X · sign in to keep highlights & notes in your LWDB notes
Deferred Share Bonus Plan
Acquisition of shares
As set out in the Corporation's Remuneration Policy approved by shareholders on 30 March 2023, half of any bonus earned by the Executive Directors above £100,000 will be deferred in shares for three years with enhanced malus and clawback provisions applying. In accordance with that policy, 6,009 deferred share awards for Denis Jackson and 2,624 deferred share awards for Trish Houston, both Executive Directors, were granted under the Plan on 19 March 2026 at a price of 11,124 pence per share (the "awards").
The awards granted under the Plan are held in trust and no consideration is payable on the grant or vesting of the awards. The number of shares to which each award relates is increased by the reinvestment of dividends due on the shares held in trust.
| 1 | Details of the person discharging managerial responsibilities | |
| a) | Name | Denis Jackson |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | The Law Debenture Corporation p.l.c. |
| b) | LEI | 2138006E39QX7XV6PP21 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 5 pence each |
| Identification code | GB0031429219 | |
| b) | Nature of the transaction | 6,009 deferred share awards granted under the Corporation's Deferred Share Bonus Plan. |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nil consideration | 6,009 | |
| d) | Aggregated information | |
| - Aggregated volume | 6,009 | |
| - Price | Nil consideration | |
| e) | Date of the transaction | 19 March 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities | |
| a) | Name | Trish Houston |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Operating Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | The Law Debenture Corporation p.l.c. |
| b) | LEI | 2138006E39QX7XV6PP21 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 5 pence each |
| Identification code | GB0031429219 | |
| b) | Nature of the transaction | 2,624 deferred share awards granted under the Corporation's Deferred Share Bonus Plan. |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nil consideration | 2,624 | |
| d) | Aggregated information | |
| - Aggregated volume | 2,624 | |
| - Price | Nil consideration | |
| e) | Date of the transaction | 19 March 2026 |
| f) | Place of the transaction | Outside a trading venue |
Long Term Incentive Plan
The following transactions were also undertaken by PDMRs in accordance with the rules of the Corporation's Long Term Incentive Plan ('LTIP'). The LTIP was established to reward eligible participants in a way that aligns their interests with the interests of shareholders and with the Corporation's long-term strategic plan.
| Name | Status | Number of Ordinary Shares awarded in 2026 | Option Price |
|---|---|---|---|
| Denis Jackson | Chief Executive Officer | 62,433 | £Nil |
| Trish Houston | Chief Operating Officer | 47,195 | £Nil |
Furthermore, options to acquire Ordinary Shares have been awarded to members of the senior management team within the Corporation's group of companies. In aggregate, options to acquire 157,149 Ordinary Shares have been awarded under the LTIP ('LTIP Awards') on 19 March 2026.
No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 11,124 pence per share for the 2026 award being the average of the closing share prices over the five dealing days from the date of the Annual Report announcement.
The vesting date of the LTIP Awards will be 19 March 2029, being the third anniversary of the award dates. Once vested, the LTIP Awards will normally be exercisable until the day before the tenth anniversary of the award date. The LTIP Awards are subject to a two-year holding period commencing on vesting.
The LTIP Awards will vest after three years based on a compound annual growth rate in profits before interest and tax of the Corporation's independent professional services business measured over a three year period. At 4% p.a. growth 20% of the LTIP Award will vest rising on a straight-line basis to 100% for 14% p.a. growth. Under the LTIP rules, the Remuneration Committee has full discretion to ensure that the final vesting outturn reflects all relevant factors, including consideration of any windfall gains.
| 1 | Details of the person discharging managerial responsibilities | |
| a) | Name | Denis Jackson |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | The Law Debenture Corporation p.l.c. |
| b) | LEI | 2138006E39QX7XV6PP21 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 5 pence each |
| Identification code | GB0031429219 | |
| b) | Nature of the transaction | Grant of nil cost options under The Law Debenture Corporation p.l.c. Long Term Incentive Plan |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nil consideration | 62,433 | |
| d) | Aggregated information | |
| - Aggregated volume | 62,433 | |
| - Price | Nil consideration | |
| e) | Date of the transaction | 19 March 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities | |
| a) | Name | Trish Houston |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Operating Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | The Law Debenture Corporation p.l.c. |
| b) | LEI | 2138006E39QX7XV6PP21 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 5 pence each |
| Identification code | GB0031429219 | |
| b) | Nature of the transaction | Grant of nil cost options under The Law Debenture Corporation p.l.c. Long-Term Incentive Plan |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nil consideration | 47,195 | |
| d) | Aggregated information | |
| - Aggregated volume | 47,195 | |
| - Price | Nil consideration | |
| e) | Date of the transaction | 19 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.