Brooks Macdonald Group plc has granted nil price options over its ordinary shares to certain persons discharging managerial responsibilities (PDMRs) as part of its 2018 Brooks Macdonald Long Term Incentive Plan (LTIP). The LTIP Awards have been granted to Robin Eggar and Richard Hughes, with Eggar receiving 5,695 shares and Hughes receiving 4,272 shares. The purpose of the Plan is to retain and incentivize key executives and align their interests with those of shareholders. The LTIP Awards will vest and become exercisable subject to performance conditions and a Remuneration Committee assessment. They are also subject to continued employment and malus and clawback provisions. The LTIP Awards will be subject to a compulsory holding period of two years from the date of vesting and become exercisable. The expected vesting date is 28 September 2026, and the holding period restriction is expected to expire on 28 September 2028.
Additionally, the company has granted nil price options over its shares to PDMRs under its Deferred Bonus Plan (DBP). Andrew Shepherd has received 8,001 shares, Robin Eggar has received 3,512 shares, and Richard Hughes has received 2,468 shares. The DBP Awards will vest and become exercisable in three equal tranches on 28 September 2024, 28 September 2025, and 28 September 2026. There are no performance conditions or holding periods associated with the DBP Awards.
As of the date of the announcement, the LTIP Awards and DBP Awards together represent 0.15% of the total voting rights of the company.
The notification provides further details about the PDMRs involved in the transactions, including their positions and the nature of the transactions. The transactions were conducted outside of a main market.
No further information or details about the company's financial performance or future plans were provided in the news release.