Land Securities Group PLC has announced that on 20 June 2024, two of its Executive Directors, Mark Allan and Vanessa Simms, acquired an interest in Options over the Company's Shares following the grant of awards. The awards were granted under the Company's Deferred Share Bonus Plan (DSBP) and the Long-Term Incentive Plan (LTIP). The number of Options was calculated by reference to a price of £6.095, the Company's middle market quotation price for a share on 19 June 2024.
Under the DSBP, the PDMRs will become entitled to exercise the Options between 20 June 2025 and 20 June 2029, subject to continued employment with Landsec. The LTIP awards normally vest on the third anniversary of grant, subject to the Company's achievement of certain performance conditions for the three-year financial period ending 31 March 2027. The PDMRs will become entitled to exercise the Options arising from the LTIP between 20 June 2027 and 20 June 2034, subject to continued employment with Landsec and the scheme rules.
Mark Allan, the Chief Executive Officer, was granted 28,596 Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan, with a total price of £174,295. He was also granted 434,455 Nil Cost Options over the Company's Shares under the Long Term Incentive Plan, with a total price of £2,648,004. Vanessa Simms, the Chief Financial Officer, was granted 20,082 Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan, with a total price of £122,402. She was also granted Nil Cost Options over the Company's Shares under the Long Term Incentive Plan.
These transactions were conducted on 20 June 2024 and took place at an aggregated price of £6.095 per share. The place of the transaction was not applicable.
This notification provides a comprehensive overview of the recent shareholding activities of Land Securities Group PLC's Executive Directors, shedding light on the awards granted under the Company's Deferred Share Bonus Plan and Long-Term Incentive Plan.