Director/PDMR Shareholding
Paragon Banking Group PLC announced on March 5, 2026, that it granted nil-cost options under its Performance Share Plan to its Chief Executive Officer, N S Terrington, for 206,478 shares, and to its Chief Financial Officer, R J Woodman, for 130,465 shares, based on an average share price of £7.996. These awards are subject to performance conditions over three financial years ending September 30, 2028, with vesting and exercisability occurring in tranches over subsequent years. Additionally, following approval of the Remuneration Policy, directors transferred shares acquired under previous arrangements, with N S Terrington transferring 44,584 shares to his spouse and R J Woodman transferring 28,228 shares to his spouse.
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On 4 March 2026, Paragon Banking Group PLC (the "Company") granted awards over the Company's Ordinary Shares of £1.00 each to the following directors under the Paragon Performance Share Plan 2023 ("PPSP").
| Director | Role | Number of shares awarded under PPSP |
|---|---|---|
| N S Terrington | Chief Executive Officer | 206,478 |
| R J Woodman | Chief Financial Officer | 130,465 |
No consideration was paid for the grant of the awards, which have been structured as nil-cost options.
The number of shares subject to each PPSP award is based on a share price of £7.996 which was the average closing mid-market price of the Company's shares on each of the five dealing days following the announcement of the Company's results for the year ended 30 September 2025. The PPSP awards will vest subject to the satisfaction of performance conditions, which will be measured over the period of three financial years ending on 30 September 2028. The awards, to the extent they vest, will become exercisable in tranches as follows: -
| Proportion of vested Shares | Normal Vesting date | Holding Period |
| 75% | Third anniversary of date of grant | Two years from the Vesting date |
| 25% | Fourth anniversary of date of grant | One year from the Vesting date |
The PPSP awards will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant. Shares subject to the post-vesting holding period will operate with all associated shareholder rights, with the exception of the right to transfer or sell shares, which will only be permissible at the end of holding period, after which the shares can then be transferred or sold.
Transfer of shares
Following approval of the Company's Remuneration Policy, at its Annual General Meeting held on 4 March 2026, the shares acquired by the directors under the Company's previous Salary in Shares arrangement (and prior to that its Role Based Allowance arrangement) became fully transferable. The directors have arranged for all shares acquired under these arrangements to be transferred as follows: -
| Director | Total number of shares transferred | Transferred to spouse (PCA) | ||||
| N S Terrington | 44,584 | Mrs J Terrington | ||||
| R J Woodman | 28,228 | Mrs S Woodman | ||||
| a) | Description of the financial instrument, type of instrument Identification code Identification code | Ordinary shares of £1.00 each in Paragon Banking Group PLC GB00B2NGPM57 | ||||
| b) | Nature of the transaction | Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP"). | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/A | ||||
| e) | Date of the transaction | 4 March 2026 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | i. Nigel Stewart Terrington (PDMR) ii. Jacqueline Terrington (PCA) | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | i. PDMR - Chief Executive Officer ii. PCA - spouse to PDMR | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Paragon Banking Group PLC | ||||
| b) | LEI | 213800S1TDKIB1IUTS72 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of £1 each in Paragon Banking Group PLC GB00B2NGPM57 | ||||
| b) | Nature of the transaction | i. Transfer of 44,584 shares to PCA. ii. Receipt of gift of 44,584 shares from PDMR. Following these transactions, Nigel Terrington retains an interest in 1,385,898 shares. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/A | ||||
| e) | Date of the transaction | 4 March 2026 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Richard James Woodman | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Financial Officer (PDMR) | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| 3 | Details of the issuer | |||||
| a) | Name | Paragon Banking Group PLC | ||||
| b) | LEI code | 213800S1TDKIB1IUTS72 | ||||
| a) | Description of the financial instrument, type of instrument Identification code Identification code | Ordinary shares of £1.00 each in Paragon Banking Group PLC GB00B2NGPM57 | ||||
| b) | Nature of the transaction | Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP"). | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/A | ||||
| e) | Date of the transaction | 4 March 2026 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | i. Richard James Woodman (PDMR) ii. Susan Woodman (PCA) | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | i. PDMR - Chief Financial Officer ii. PCA - spouse to PDMR | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Paragon Banking Group PLC | ||||
| b) | LEI | 213800S1TDKIB1IUTS72 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of £1 each in Paragon Banking Group PLC GB00B2NGPM57 | ||||
| b) | Nature of the transaction | i. Transfer of 28,228 shares to PCA. ii. Receipt of gift of 28,228 shares from PDMR. Following these transactions, Richard Woodman retains an interest in 559,172 shares. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/A | ||||
| e) | Date of the transaction | 4 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.