Ocado Group PLC announced that its PDMRs (Persons Discharging Managerial Responsibilities) have participated in The Ocado Share Incentive Plan (SIP). The SIP is a tax-advantaged all-employee share scheme that allows employees to purchase ordinary shares in the company at market value using deductions from their salary each month and receive allocations of matching ordinary shares. The PDMRs who participated in this plan include Tim Steiner, CEO; Mark Richardson, CEO of Ocado Intelligent Automation; Neill Abrams, Group General Counsel and Company Secretary; Stephen Daintith, Chief Financial Officer; and James Matthews.
Each of the PDMRs purchased 42 Partnership Shares at a price of 3.567, with an aggregate total of 149.81, on 15 April 2024, at the London Stock Exchange (XLON). The transactions were disclosed as required under the regulatory framework for transparency and in accordance with the company's policies.
This announcement provides insight into the company's commitment to aligning the interests of its management with those of its shareholders, as well as its efforts to incentivize and reward its employees through share ownership. It also demonstrates the confidence of the PDMRs in the company's future performance and growth, as they have chosen to invest in Ocado Group PLC through the SIP.