Ocado Group PLC has announced the participation of its directors and persons discharging managerial responsibilities (PDMRs) 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 and receive allocations of matching ordinary shares. The transactions took place on the London Stock Exchange on 15 May 2024.
The Chief Executive Officer, Tim Steiner, participated in the monthly purchase of securities ("Partnership Shares") under the SIP, acquiring 41 ordinary shares at a price of 3.698, with an aggregated total of 151.62. Mark Richardson, CEO of Ocado Intelligent Automation, Neill Abrams, Group General Counsel and Company Secretary, and Stephen Daintith, Chief Financial Officer, also participated in similar transactions under the SIP on the same date and at the same place.
The transactions are in line with the company's commitment to incentivize and reward its employees through the SIP. This aligns with the company's strategy to drive employee engagement and align the interests of employees with those of the shareholders. The participation of the directors and PDMRs in the SIP demonstrates their confidence in the company's future and their commitment to its long-term success.