Dunelm Group plc has announced that its Chief Executive Officer, Nick Wilkinson, has purchased 10,843 ordinary shares in the company at a price of £10.91 per share. This purchase fulfills Wilkinson's obligation to invest two-thirds of his FY23 cash bonus in Dunelm shares, as outlined in the company's approved Remuneration Policy.
In addition, share incentive awards have been granted to several persons discharging managerial responsibilities (PDMRs) under the Dunelm Group 2014 Long Term Incentive Plan. Nick Wilkinson, Karen Witts, Luisa Wright, and James Cooper have been granted options over ordinary shares. The options for Wilkinson, Witts, and Wright can be exercised on or after November 21, 2026, subject to the satisfaction of performance conditions over the three financial periods commencing on July 2, 2023. The options for Cooper can be exercised on or after November 21, 2025, subject to performance conditions.
Upon exercise, Wilkinson and Witts have committed to retaining at least two-thirds of the shares (after selling enough to cover tax and national insurance liability) for the duration of their employment. The 2023 Remuneration Policy also includes shareholding requirements for the duration of employment and two years after termination.
The Remuneration Committee has the authority to apply malus or clawback to the share awards and can adjust formulaic outcomes if they do not reflect underlying performance or are deemed inappropriate in unexpected or unforeseen circumstances.
Furthermore, as part of its all-employee Sharesave scheme for 2023, Dunelm Group has granted options over ordinary shares to Luisa Wright under the Dunelm Group 2014 Sharesave Plan. Wright, a PDMR, elected to participate at an option price of £8.10 per share.
No further details or information were provided in the announcement.