Bakkavor Group PLC announced that on April 11, 2024, several persons discharging managerial responsibilities (PDMRs) acquired ordinary shares in the company in connection with the exercise of vested awards held under the long-term incentive plans. The awards were settled partly in shares and partly in cash to meet the income tax and employees' national insurance liability associated with the exercise. The cash element was solely to meet the Tax Liability.
Mike Edwards, CEO, acquired 1,085,717 shares on exercise of the 2017, 2018, 2019, and 2020 LTIP Awards. Ben Waldron, CFO & Asia CEO, acquired 199,529 shares on exercise of the 2020 LTIP Award and 23,243 shares on exercise of the 2017 LTIP Award. Donna-Maria Lee, CPO, acquired 137,823 shares on exercise of the 2018, 2019, and 2020 LTIP Awards. Shona Taylor and Lee Miley also acquired shares on exercise of their respective LTIP Awards.
The transactions were conducted outside of a trading venue on April 11, 2024. The shares were acquired for nil consideration on the exercise of vested nil cost options held under the Company's LTIP and relating to the share settled portions of such exercises. The number of reference shares cash settled at £1.135 per share was also disclosed for each transaction to cover the Tax Liability.
The information was provided in accordance with the requirements of Article 19(3) of the UK Market Abuse Regulation. The details of the transactions and the persons discharging managerial responsibilities were also outlined in the announcement.