Notification of Directors’ and PDMRs’ interests
In brief · summary, not quotable
Directors and PDMRs granted nil-cost options under Long Term Incentive Plan on 5 March 2024.
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The Company announces that it made grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to directors of, and persons discharging managerial responsibility in, the Company ("Options"). The Options were made under the Partnership Share Scheme, part of the Company's Long Term Incentive Plan, and are a percentage of target earnings calculated using the Company's closing share price on the date prior to the date of grant. The Options were issued on 05 March 2024 as detailed below:
| Director | Number of Ordinary Shares subject to the Options | Resultant number of Ordinary Shares subject to options | Beneficial holding of Ordinary Shares excluding options |
|---|---|---|---|
| Robert Forrester | 426,600 | 1,873,261 | 7,489,518 |
| David Crane | 240,000 | 1,553,874 | 481,462 |
| Karen Anderson | 240,000 | 1,553,874 | 1,166,637 |
| Colin Kent | 128,571 | 1,167,144 | 449,251 |
| Christopher Taylor | 128,571 | 1,337,491 | 373,059 |
| Michael Rich | 128,571 | 1,373,853 | 49,537 |
| Leon Caruso | 128,571 | 867,144 | 10,430 |
| Stephen Gould | 128,571 | 837,491 | 30,493 |
| Mark Gibbings | 107,142 | 522,069 | 23,310 |
| Anthony Masterson | 107,142 | 261,818 | 57,412 |
| Tom Garratt | 96,428 | 251,092 | 34,508 |
Vesting of the Options is pro rata to the individual's achievement of a variety of annual bonus targets for the current financial year, ending 28 February 2025, and vested Options are then subject to a further three-year holding period before they can be exercised (until March 2028).
The Company's issued share capital consists of 337,602,150 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | ROBERT FORRESTER |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | CEO |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 426,600 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | DAVID CRANE |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| b) | Position/status | COO |
| c) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 240,000 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | KAREN ANDERSON |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | CFO |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 240,000 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | COLIN KENT |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 128,571 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | CHRISTOPHER TAYLOR |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 128,571 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | MICHAEL RICH |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 128,571 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | LEON CARUSO |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 128,571 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | STEPHEN GOULD |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 128,571 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | MARK GIBBINGS |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 107,142 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | ANTHONY MASTERSON |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 107,142 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | TOM GARRATT |
| 2. | Reason for the notification | ISSUE OF OPTIONS |
| a) | Position/status | OPERATIONS DIRECTOR |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION |
| a) | Name | VERTU MOTORS PLC |
| b) | LEI | 213800GIKJEIUIGMI575 |
| a) | Description of the financial instrument, type of instrument identification code Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
| b) | Nature of the transaction | ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN |
| c) | Price(s) and volume(s) Price Volume(s) NIL 96,428 | |
| d) | Aggregated information -Aggregated volume - Price | NOT APPLICABLE - SINGLE TRANSACTION |
| e) | Date of the transaction | 5 MARCH 2024 |
| f) | Place of transaction | OUTSIDE A TRADING VENUE |
| Vertu Motors plc | ||
| Robert Forrester, CEO | Tel: 0191 491 2121 | |
| Karen Anderson, CFO Phil Clark, Investor relations | Tel: 0191 491 2121 PClark@vertumotors.com | |
| Stifel | ||
| Matthew Blawat Nick Harland | Tel: 0207 710 7688 | |
| Camarco | ||
| Billy Clegg Tom Huddart | Tel: 020 3757 4983 | |
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