Establishment of LTIP and PDMR Shareholding
Long Term Incentive Plan established with awards granted to CEO and CFO vesting subject to TSR, EPS and TAR targets.
- Rob Abraham LTIP Award 993,377 shares
- Mike Perkins LTIP Award 728,476 shares
- Exercise price per share £0.01
- 2028 financial year EPS target (100% vesting) 7.0p
- Total accounting return target (100% vesting) 10% p.a.
Select text to share a quote on X · sign in to keep highlights & notes in your SUPR notes
Supermarket Income REIT plc (LSE: SUPR), announces the establishment of its Long Term Incentive Plan (the "LTIP"), following consultation with a number of its largest shareholders and as outlined in the Directors' Remuneration Policy in the circular published on 4 March 2025 in relation to the internalisation of the Company's management function (the "Internalisation"). The Board recognises the importance of equity incentive schemes as a means to incentivise the Executive Directors, ensuring alignment with the objectives of the Company and its shareholders.
The Company announces that it has granted awards in the form of nominal cost options ("LTIP Awards") over ordinary shares of the Company of £0.01 each ("Shares") pursuant to the LTIP, on 17 June 2025 to the Executive Directors listed below:
| Director | Number of Shares under LTIP Award |
|---|---|
| Rob Abraham | 993,377 |
| Mike Perkins | 728,476 |
The exercise price for each LTIP Award is £0.01 per Share, being the nominal cost of a Share. Vesting of the LTIP Awards is subject to continued service and satisfaction of performance conditions relating to the following metrics:
- Relative Total Shareholder Return ("TSR") measured against the constituents of the FTSE 350 Real Estate sector excluding agencies (50% weighting). 25% of this part of an award will vest for median TSR, increasing pro-rata to 100% of this part of an award vesting for upper quartile TSR as measured from completion of the Internalisation to the publication of the 2028 financial year results;
- Adjusted earnings per share ("EPS") performance for the 2028 financial year (25% weighting). 25% of this part of an award will vest for the 2028 financial year EPS of 6.3p increasing pro-rata to 100% of this part of an award vesting for the 2028 financial year EPS of 7.0p; and
- Total accounting return ("TAR") during the 2026, 2027 and 2028 financial years (25% weighting). 25% of this part of an award will vest for TAR of 5% p.a. increasing pro-rata to 100% of this part of an award vesting for TAR of 10% p.a..
In addition to the performance conditions outlined above, the Remuneration Committee will retain discretion to adjust any formulaic outcome for the LTIP Awards if it considers it necessary to take account of its broader assessment of Company or executive performance and the stakeholder experience more generally over the vesting period.
The vesting date of the 2025 LTIP Awards will be the date of publication of results for the 2028 financial year.
A holding period of two years from the date of vesting applies to the LTIP Awards granted to the Executive Directors (and any Shares resulting from the LTIP Awards).
| 1 | Details of the person discharging managerial responsibilities/persons closely associated | |
| a) | Name | Rob Abraham |
| 2 | Reason for notification | |
| a) | Position/Status | Chief Executive Officer |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | Supermarket Income REIT plc |
| b) | LEI | 2138007FOINJKAM7L537 |
| a) | Description of the financial instrument, type of instrument and identification code | Ordinary Shares of £0.01 each ISIN: GB00BF345X11 |
| b) | Nature of transaction | Grant of a nominal cost option over Shares under the Company's Long Term Incentive Plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil 993,377 |
| d) | Aggregated Information | Not applicable - single transaction |
| e) | Date of transaction | 17 June 2025 |
| f) | Place of transaction | Outside of a trading venue |
| 1 | Details of the person discharging managerial responsibilities/persons closely associated | |
| a) | Name | Mike Perkins |
| 2 | Reason for notification | |
| a) | Position/Status | Chief Financial Officer |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | Supermarket Income REIT plc |
| b) | LEI | 2138007FOINJKAM7L537 |
| a) | Description of the financial instrument, type of instrument and identification code | Ordinary Shares of £0.01 each ISIN: GB00BF345X11 |
| b) | Nature of transaction | Grant of a nominal cost option over Shares under the Company's Long Term Incentive Plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil 728,476 |
| d) | Aggregated Information | Not applicable - single transaction |
| e) | Date of transaction | 17 June 2025 |
| f) | Place of transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.