Next PLC Director/PDMR Shareholding
21 September 2024 - 1:31AM
RNS Regulatory News
RNS Number : 1136F
Next PLC
20 September 2024
20 September
2024
NEXT
plc
Notification
of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with Them (PCA)
The following awards were granted to executive
directors and a PCA on 20 September 2024 under the NEXT Long Term
Incentive Plan (the "LTIP"):
|
Maximum No. of
Shares
|
Lord Wolfson of Aspley Guise
|
11,657
|
Jonathan Blanchard
|
7,405
|
Richard Papp
|
8,640
|
Jane Shields
|
8,640
|
Jeremy Stakol
|
7,405
|
Marcelle Stakol (PCA)
|
1,673
|
Under the terms of each LTIP the award
comprises a conditional award of shares on the following
terms:
·
|
the award will vest following the third
anniversary of the date of grant subject to performance targets and
continued employment in the NEXT Group;
|
·
|
a variable percentage of the maximum number of
shares above can vest, depending on the relative Total Shareholder
Return of NEXT over a three year period against a comparator
group;
|
·
|
for relative performance against the comparator
group the percentage vesting will be:
|
Relative
performance
|
Percentage vesting
|
Below median
|
0%
|
Median
|
20%
|
Upper quintile
|
100%
|
·
|
the Remuneration Committee has discretion to
override and reduce formulaic outcomes under the LTIP awards should
this be considered appropriate in the circumstances;
|
·
|
before any of the awards vest, the Committee
must have regard to the underlying financial performance of the
Company;
|
·
|
to the extent that the performance condition is
not met, the award will lapse completely;
|
·
|
to the extent that awards vest, dividend
equivalents will be accrued; and
|
·
|
any vesting of these awards granted (including
dividend equivalents) will be settled in shares and, after payment
of tax, the net shares received should be retained by executive
directors for a period of two further years and PCAs for a further
period of 6 months.
|
LTIP awards are made twice a year. The maximum
number of shares shown above is 112.5% of each executive director's
(60% of PCA's) base salary at the date of grant, divided by NEXT's
average share price over the three months prior to the start of the
performance period.
The following notification made
under article 19.1 of the UK Market Abuse Regulation ("MAR")
related to awards granted to executive directors on 20
September 2024 under the LTIP. This
announcement is made in accordance with Article 19.3 of
MAR.
1
|
Details of the person discharging managerial responsibilities
("PDMR") / person closely associated ("PCA")
|
a)
|
Name
|
1. Lord Wolfson of
Aspley Guise
2. Jonathan
Blanchard
3. Richard
Papp
4. Jane
Shields
5. Jeremy
Stakol
6. Marcelle
Stakol
|
2
|
Reason for the notification
|
a)
|
Position/status
|
1. Chief Executive
(PDMR)
2. Chief Financial
Officer (PDMR)
3. Group Merchandise and
Operations Director (PDMR)
4. Group Sales,
Marketing and HR Director (PDMR)
5. Group Investments,
Acquisitions and Third Party Brands Director (PDMR)
6. Brand Director
(PCA with Jeremy Stakol)
|
b)
|
Initial notification
/Amendment
|
Initial
notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
NEXT plc
|
b)
|
LEI
|
213800WQD8ECPZP9PH98
|
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
|
Ordinary shares of £0.10 each -
conditional award
|
|
|
Identification code
|
GB0032089863
|
|
|
b)
|
Nature of the transaction
|
Conditional award granted of shares under the
LTIP. Maximum number of shares as follows:
1. Lord Wolfson of Aspley
Guise - 11,657
2. Jonathan Blanchard -
7,405
3. Richard Papp -
8,640
4. Jane Shields -
8,640
5. Jeremy Stakol -
7,405
6. Marcelle Stakol -
1,673
|
c)
|
Price(s) and volume(s)
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
Lord Wolfson of Aspley
Guise
|
Nil
|
11,657
|
|
|
Jonathan Blanchard
|
Nil
|
7,405
|
|
|
Richard Papp
|
Nil
|
8,640
|
|
|
Jane Shields
|
Nil
|
8,640
|
|
|
Jeremy Stakol
|
Nil
|
7,405
|
|
|
Marcelle Stakol
|
Nil
|
1,673
|
|
|
|
d)
|
Aggregated information
|
|
- Aggregated volume
|
n/a single transactions
|
- Price
|
|
e)
|
Date of the transaction
|
20 September 2024
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Seonna Anderson
Company
Secretary
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