Crest Nicholson Holdings PLC has announced the granting of share awards to Persons Discharging Managerial Responsibility (PDMRs) under the Long-Term Incentive Plan (LTIP). The awards, totaling 595,314 Ordinary Shares, were granted on February 5, 2024. The LTIP Awards consist of share options and restricted stock, with 50% of the share options subject to performance conditions related to total shareholder return, return on capital employed, and reduction in carbon emissions. The remaining 50% of the award is restricted stock, subject to continued service over three years, and will vest on February 5, 2027.
The number of shares subject to the LTIP Awards has been calculated based on the average of the closing middle market quotation of a share in the Company for the five preceding dealing days to the grant date. The PDMRs involved in the transactions include Kieran Daya, Chief Operating Officer, who was granted 179,562 shares; David Marchant, Group Operations Director, who was granted 147,960 shares; Jane Cookson, Group HR Director, who was granted 90,624 shares; and Heather O'Sullivan, Group General Counsel, who was also granted shares.
The transactions were conducted outside a trading venue, and the price for the shares was nil. The details of the performance conditions can be found in the Company's 2023 Annual Report. This announcement is in line with the notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them.