Anglo American PLC has announced the vesting of shares awarded at nil cost under the company's Bonus Share Plan (BSP), Long Term Incentive Plan (LTIP), and Non-Cyclical Share Awards Plan (NCA). The awards, which vested on 4th March 2024, were made to Directors and Persons Discharging Managerial Responsibilities (PDMRs). The shares were released and sold to cover withholding taxes at £17.3653 per share. The awards granted under the LTIP in 2021 vested at 40.33% based on the extent to which the relevant performance conditions were met.
The vesting of shares under the BSP for PDMRs occurs in two tranches, with the first tranche vesting three years after grant and the remaining third vesting as a second tranche five years from the grant. For grants made from 2021, the first tranche, equal to one third of the award, vests two years after grant, and the remaining two thirds vest as a second tranche three years after grant. The awards under the NCA were made to specific individuals and vest in March of each year, subject to continued employment.
The net shares released under all LTIP awards, except for those made to specific individuals, are subject to a further two-year holding period during which they may not be sold or transferred. Additionally, the company announced that Stuart Chambers, Chairman, transferred shares held by him to an individual savings account ("ISA") held in his name, with the number and beneficial ownership of shares held by Mr. Chambers remaining unchanged.
The notification also includes details of the transactions, including the names of the PDMRs, the nature of the transactions, and the financial instruments involved. The relevant FCA notifications are also provided in accordance with Article 19 of the UK Market Abuse Regulation.
This comprehensive summary provides an overview of the recent Director and PDMR shareholding transactions at Anglo American PLC, including the vesting of shares, the specific tranches under which awards vest, and additional transactions by the Chairman.