National Grid PLC has announced that several of its Executive Directors and Persons Discharging Managerial Responsibilities (PDMRs) have been granted awards under the company's Annual Performance Plan (APP). The awards, which were granted on 15 July 2024, relate to a percentage of the award for 2023/24 being paid in shares. The shares, after tax on the gross award, must be retained until the shareholding requirement is met, and in any event for two years after receipt. The awards are also subject to clawback and malus provisions.
The relevant Financial Conduct Authority (FCA) notifications for each individual have been provided in accordance with the Market Abuse Regulation (MAR). The transactions involved the purchase of ordinary shares in the market, with the price per share set at GBP 9.44607. The transactions took place on the London Stock Exchange (XLON).
The Chief Financial Officer, Andy Agg, purchased 18,915 shares, which relates to 50% of the APP for 2023/24 being paid in shares. Justine Campbell, the Group Chief Legal Officer, purchased 5,872 shares, which relates to 33.33% of the APP for 2023/24 being paid in shares. John Pettigrew, the Chief Executive, purchased 29,806 shares, also relating to 50% of the APP for 2023/24 being paid in shares. Lastly, Ben Wilson, the Chief Strategy and Regulation Officer, purchased 5,706 shares, which relates to 33.33% of the APP for 2023/24 being paid in shares.
These transactions are part of the company's efforts to align the interests of its management with those of its shareholders and to incentivize and reward performance. For further details of the APP, interested parties are directed to the Company's 2023/24 Annual Report and Accounts.