J Sainsbury plc announced that on 31 May 2024, several Directors and Persons Discharging Managerial Responsibility (PDMRs) were granted awards under the J Sainsbury plc Long Term Incentive Plan 2016 (LTIP). The awards were granted as nil-cost options over ordinary shares of 284/7 pence each in the Company. The Next Level incentive plan (NLips) and Bonus Share Awards (BSAs) are subject to performance conditions measured over three financial years and will vest after three years, subject to the achievement of the performance conditions.
The maximum potential number of shares were awarded at the date of grant, and the final number of shares will be adjusted against a performance outturn of between 0% and 100% at the end of the three-year performance period. Additionally, dividend equivalents may be delivered in cash or shares in respect of dividends accrued on any shares which subsequently vest.
The share price to determine the number of shares awarded was based on the five dealing day average share price prior to the grant date. The PDMRs were also granted shares under the LTIP based on performance during the 2023/24 financial year, which will vest following a two-year retention period.
Simon Roberts, Chief Executive Officer, was granted 881,818 shares under NLips and 369,765 shares under BSAs. Bláthnaid Bergin, Chief Financial Officer, was granted 608,570 shares under NLips and 206,445 shares under BSAs. Other PDMRs were also granted shares under the LTIP.
This notification is made in accordance with the requirements of the UK Market Abuse Regulation. For further information, please contact the Investor Relations or Media departments of J Sainsbury plc.