Director/PDMR Shareholding
Severfield plc has announced a conditional award of 1,843,972 ordinary shares to CEO Paul McNerney under the Company's Performance Share Plan, granted on 7 January 2026 outside a trading venue. This award is subject to performance conditions, including EPS targets of 5.8 pence to 7.9 pence and ROCE targets of 10% to 13% for the year ending 31 March 2028, alongside 30% weighted transformational objectives. The award normally vests in June 2028, with vesting percentages determined by performance against these metrics.
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Due to an administrative oversight, this notification, relating to a transaction on 7 January 2026, is being released at a later date.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Paul McNerney |
| 2 | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Severfield plc |
| b) | LEI | 21380025AWPR781CY104 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 2.5p GB00B27YGJ97 |
| b) | Nature of the transaction | Grant of an award under the Company's Performance Share Plan as a conditional award of shares. Subject to performance conditions and continued service, the award normally vests in June 2028. The performance conditions are weighted as follows: · 50% is based on an EPS target for the year ending 31 March 2028 of 5.8 pence (threshold performance - 12.5% vests) to 7.9 pence (maximum performance - 50% vests) with linear interpolation in between. This represents a PBT range of £22m to £30m. · 20% is based on an ROCE target for the year ending 31 March 2028 of 10% (threshold performance -5% vests) to 13% (maximum performance - 20% vests) with linear interpolation in between. · 30% is based on 5 key transformational objectives relating to improved market prioritisation, manufacturing and project delivery. Certain details of the transformation programme metrics are commercially sensitive and will therefore be disclosed retrospectively at the point of vesting. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil 1,843,972 |
| d) | Aggregated information - Aggregated volume - Price | Not applicable-single transaction |
| e) | Date of the transaction | 7/1/26 |
| f) | Place of the transaction | Outside a trading venue |
Name of Company Official responsible for making notification:
Mark Sanderson, Company Secretary
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.