leadf
logo-loader
RNS
viewGo Ahead Group

Go-Ahead Group PLC - Director/PDMR Shareholding

RNS Number : 2174J
Go-Ahead Group PLC
18 December 2020
 

The Go-Ahead Group plc ("Go-Ahead")

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

On 15 December 2020, share options were granted with a nil exercise price under The Go-Ahead Group Long Term Incentive Plan 2015 ("LTIP") to the following Persons Discharging Managerial Responsibility:

Name

Share Plan

Number of share awards granted under LTIP on 15 December 2020

David Brown, Group Chief Executive

LTIP

92,481

Elodie Brian, Group Chief Financial Officer

LTIP

35,506

 

The performance targets for the 2020 LTIP Award are as outlined below and will be measured over the three-year performance period commencing with the start of the 2020/21 financial year and ending with the end of the 2022/23 financial period:

 

2020 LTIP AWARD

Pay out (% of EPS element)

EPS to be achieved in Year 3 (2023)

Pay out (% of TSR element)

Relative TSR vs FTSE 250

Pay out (% of Customer Service element)

Customer Service

Pay out (% of ESG element)

ESG

Bus

Rail

Environment

People

Weighting (% of total award)

-

20%

-

50%

 

-

 

10%

10%

 

-

5%

5%

Below threshold

0%

Less than 110p

0%

Below median

0%

Under 90%

Under 80%

0%

Below 7.3% compounded reduction in CO2 emissions per vehicle mile

Below 17% gender diversity in Bus
Below 22% gender diversity in Rail

Threshold

10%

110p

25%

Median

10%

90%

80%

10%

7.3% (2.5% p.a.) compounded reduction in CO2 emissions per vehicle mile

17% gender diversity in Bus
22% gender diversity in Rail

Between threshold and maximum

Between 10% and 100%

10% for every 3p

Between 25% and 100%

Between median and upper quartile

Between 10% and 100%

90% to 92%

80% to 83%

Between 10% and 100%

10% for every % pt

10% for every 0.3% pt

Maximum

100%

140p

100%

Upper quartile

100%

92%

83%

100%


18% reduction in CO2 emissions per vehicle mile

20% gender diversity in Bus
25% gender diversity in Rail

 

The 2020 LTIP Award was calculated based on the average closing mid-market price of a Go-Ahead share during the five working days immediately prior to the grant date in accordance with the LTIP Rules, this being £9.435

These shares, which are held by The Go-Ahead Group Employee Trust, must be held for a period of three years after grant. Once vested, these shares are also subject to an additional holding period that applies until the later of (i) the fifth anniversary of the grant date or (ii) the second anniversary of vesting. During this time, any vested awards may not be sold (other than to pay any tax and NICs due on exercise). The terms of the 2020 LTIP award are subject to The Go-Ahead Group plc Malus and Clawback Policy which will be enforceable for the period from the grant date until three years from the vesting date.

 

The remuneration committee (the "Committee") is mindful of the continued uncertainties presented by COVID-19 and the evolving effect on Go-Ahead's businesses, the transport sector and the wider market as a whole. As is normal practice, the Committee will ensure that any vesting is appropriate in the context of underlying financial performance and the experience of the Group's wider stakeholders. The Committee retains the ability to apply discretion when determining remuneration outcomes to ensure that the value of vesting is fully reflective of the performance delivered, outcomes are fair and to avoid any inappropriate windfall gains.

 

The attached notification is made in accordance with the requirements of the EU Market Abuse Regulation and provides further detail of the number of share options awarded under the LTIP on 15 December 2020.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

David Brown

2

Reason for notification

a)

Position/status

Group Chief Executive

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 The Go-Ahead Group plc

 

b)

LEI

 2138009TF1SYOMQLBJ60

 

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description of the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 10 pence each

 

 

 

 

GB0003753778

b)

Nature of the transaction

Grant of awards under The Go-Ahead Group Long Term Incentive Plan 2015 ("LTIP"). For further information, please see above.

 

 

 

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£NIL

 

 

92,481 LTIP share options

d)

Aggregated information

 

 - Aggregated volume

 

 

 

 

- Price

 

 

 

92,481 LTIP share options

 

 

 

 

£NIL

 

e)

Date of the transaction

 

2020-12-15

 

f)

Place of the transaction

N/A

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Elodie Brian

2

Reason for notification

a)

Position/status

Group Chief Financial Officer

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 The Go-Ahead Group plc

 

b)

LEI

 2138009TF1SYOMQLBJ60

 

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description of the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 10 pence each

 

 

 

 

GB0003753778

b)

Nature of the transaction

Grant of awards under The Go-Ahead Group Long Term Incentive Plan 2015 ("LTIP"). For further information, please see above.

 

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£NIL

 

 

35,506 LTIP share options

 

d)

Aggregated information

 

 - Aggregated volume

 

 

 

 

- Price

 

 

 

35,506 LTIP share options

 

 

 

 

 

£NIL

e)

Date of the transaction

 

2012-12-15

 

f)

Place of the transaction

N/A

 

For further information, please contact:

Carolyn Ferguson, Group Company Secretary on 0191 232 3123

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHFLFVSFTLTLII

Quick facts: Go Ahead Group

Price: -

Market: LSE
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

8 min read