Close Brothers Group plc has announced that on 4 October 2023, share awards were granted to executive directors and other persons discharging managerial responsibilities (PDMRs) under the company's Omnibus Share Incentive Plan. The awards were granted under the long-term incentive plan (LTIP) and the deferred annual bonus plan (DAB). The number of shares awarded under the plans was determined based on a share price of £8.719 per share.
The LTIP awards are subject to performance conditions measured over a three-year period between 1 August 2023 and 31 July 2026. Participants can call for some of the award shares between 4 October 2026 and 4 October 2027 at no cost. Certain other award shares are subject to an additional two-year deferral period, allowing participants to call for those award shares between 4 October 2028 and 4 October 2029.
The DAB share awards entitle participants to call for their award shares at no cost between 4 October 2025 and 4 October 2026.
The notifications made pursuant to Article 19(3) of the Market Abuse Regulation provide further details of the transactions. The notifications include the names of the persons discharging managerial responsibilities, their positions, the nature of the transactions, the volume of shares awarded, the date of the transactions, and the place of the transactions.
The persons discharging managerial responsibilities who received share awards include Adrian Sainsbury, Group Chief Executive, who received 135,997 shares; Mike Morgan, Group Finance Director, who received 81,891 shares; and Rebekah Etherington, Group Head of Human Resources, who received 51,612 shares.
The transactions took place outside of a trading venue, and the price of the shares awarded was nil.
This announcement provides transparency regarding the share awards granted to the company's directors and PDMRs under the LTIP and DAB plans.