Director/PDMR Shareholding
Reach PLC announced on April 14, 2026, that its Chief Executive Officer, Piers North, and Chief Financial Officer, Darren Fisher, were granted nil-cost share awards under the Long Term Incentive Plan and Restricted Share Plan on April 13, 2026. Piers North received a total of 1,492,454 ordinary shares, while Darren Fisher received 1,179,288 ordinary shares, with both awards calculated based on a three-month average share price of 63.1p. These awards are subject to performance conditions over a three-year period and a subsequent two-year holding period, with potential dividend equivalents also awarded.
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On 13 April 2026, the Company granted nil-cost option awards over ordinary shares of 10p each in the capital of the Company under the LTIP to Piers North, Chief Executive Officer and Darren Fisher, Chief Financial Officer.
The number of shares under the LTIP awards was calculated using the three-month average share price to the date of grant of 63.1p per share.
Subject to continued service the LTIP awards may vest and become exercisable from the third anniversary of their grant to the extent performance conditions measured over a three-year period are achieved. Details of the performance conditions can be found out on pages 95 and 96 in the Company's 2025 Annual Report.
Vested LTIP awards will also be subject to a post-vesting holding period of two years. During the holding period, restrictions will apply to the sale or other disposal of the shares (other than to satisfy any tax liability). An additional award of shares equal in value to any dividends paid during the vesting period may be made on the release of the awards.
The notifications below, which have been made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
Grant of 2026 Awards under the Reach plc Restricted Share Plan (RSP)
On 13 April 2026, the independent trustee (the Trustee) of the Company's Employee Benefit Trust based in Jersey (the Trust) notified the Company it has granted restricted share awards to the following Directors under the RSP. The number of shares subject to the restricted share awards has been calculated using the same three-month average share price as for the LTIP awards noted above.
Under the terms of the RSP, the participant is the beneficial owner of the restricted shares but the shares are held in trust by the Trustee who remains the legal owner until the shares are released at the end of the three-year vesting period (the Restricted Period).
During the Restricted Period, a participant may not dispose of the restricted shares, and cannot vote or receive any dividends in respect of the restricted shares. An additional award of shares equal in value to any dividends paid during the Restricted Period may be made on the release of the awards.
The restricted share awards relate to the deferral of a portion of bonus in accordance with the Company's Directors' Remuneration Policy.
The notifications below, which have been made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Piers North |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | Reach plc |
| b) | LEI | 213800GNI5XF3XOATR61 |
| a) | Description of the financial instrument, type of instrument | Ordinary 10p Shares |
| Identification code | GB0009039941 | |
| b) | Nature of the transaction | a. Grant of nil-cost share option award under the Reach Long Term Incentive Plan b. Grant of restricted shares under the Reach plc Restricted Share Plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) a. £nil 1,139,619 b. £nil 352,835 |
| d) | Aggregated information | |
| - Aggregated volume | 1,492,454 | |
| - Price | £nil | |
| e) | Date of the transaction | 2026-04-13 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Darren Fisher |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | Reach plc |
| b) | LEI | 213800GNI5XF3XOATR61 |
| a) | Description of the financial instrument, type of instrument | Ordinary 10p Shares |
| Identification code | GB0009039941 | |
| b) | Nature of the transaction | a. Grant of nil-cost share option award under the Reach Long Term Incentive Plan b. Grant of restricted shares under the Reach plc Restricted Share Plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) a. £nil 934,876 b. £nil 244,412 |
| d) | Aggregated information | |
| - Aggregated volume | 1,179,288 | |
| - Price | £nil | |
| e) | Date of the transaction | 2026-04-13 |
| 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.