National Grid PLC has announced the acquisition of shares by Group Executive Committee members, who are also Persons Discharging Managerial Responsibilities (PDMRs), under the Company's Long Term Performance Plan (LTPP). These awards are related to the 2021 LTPP and are conditional on continued employment with the Company and the satisfaction of performance conditions approved by the Remuneration Committee. The Company also announced a correction to a previous announcement regarding the sale of rights under the Share Incentive Plan.
The corrected announcement shows that Andy Agg, Chief Financial Officer, acquired 229,837 shares in respect of the LTPP 2021 award and sold 108,403 shares resulting from the LTPP award exercise to cover tax liabilities. Justine Campbell, Group Chief Legal Officer, acquired 117,599 shares in respect of the LTPP 2021 award. All transactions took place on the London Stock Exchange.
The transactions are in accordance with Article 19 of the Market Abuse Regulation and the relevant Financial Conduct Authority notifications have been provided. The awards are subject to malus and clawback provisions, and the shares acquired are subject to retention until the shareholding requirement is met, and in any event for Executive Directors two years after receipt.