TIDMSCT

RNS Number : 0199K

Softcat PLC

05 April 2018

Softcat plc (the "Company")

Notification of Transactions by

Persons Discharging Managerial Responsibilities

The following notification relates to the award of nil-cost options to person discharging managerial responsibilities ("PDMR") on 4 April 2018 under the Softcat plc Long Term Incentive Plan ("LTIP").

Softcat plc Long Term Incentive Plan

On 4 April 2018, an award of nil-cost options to acquire 66,864 shares was made to Graeme Watt, a director and PDMR. The number of shares over which the nil-cost option was awarded has been calculated by reference to the closing middle market quotation of the ordinary shares derived from the Daily Official List on the dealing day preceding the date of grant (6.73 pence). The award will vest subject to the performance conditions outlined below.

Performance Conditions and Vesting of Awards

These nil-cost options are subject to the rules of the LTIP and will vest depending on performance against Total Shareholder Return ("TSR") and Earnings per Share ("EPS") targets as measured over a three year performance period.

50% of the Award will be subject to the Company's relative TSR performance against the FTSE 250 (excluding real estate and investment trusts):

   TSR performance                       % of Award vesting 
   Below median                                        Nil 
   At median                                             30% 
   Upper quartile or above                           100%

50% of the Award will be subject to the Company's EPS for FY 2020:

   EPS Growth                             % of Award vesting 
   Less than 23.7 pence                               Nil 
   23.7 pence                                               20% 
   26.9 pence or above                                100%

There will be straight line vesting between the points as outlined above.

The normal date of vesting for the nil-cost options outlined above will be 4 April 2021 and the last date for exercise will be 3 April 2028, with dividend equivalents payable in respect of the vesting of nil-cost options in accordance with the rules of the LTIP.

For further information on the LTIP, please refer to the Company's Annual Report and Accounts.

 
 1.    Details of PDMR / person closely associated 
        with them ("PCA") 
----  -------------------------------------------------------------------- 
 a)    Name                               Graeme Watt 
----  ---------------------------------  --------------------------------- 
 2.    Reason for the notification 
----  -------------------------------------------------------------------- 
 a)    Position                           Chief Executive 
        / status 
----  ---------------------------------  --------------------------------- 
 b)    Initial notification               Initial Notification 
        / amendment 
----  ---------------------------------  --------------------------------- 
 3.    Details of the issuer, emission allowance 
        market participant, auction platform, 
        auctioneer or auction monitor 
----  -------------------------------------------------------------------- 
 a)    Name                               Softcat plc 
----  ---------------------------------  --------------------------------- 
 b)    LEI                                N/A 
----  ---------------------------------  --------------------------------- 
 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                        Ordinary Shares of GBP0.0005 
        of the financial                   each 
        instrument                         ISIN: GB00BYZDVK82 
        Identification 
        Code 
----  ---------------------------------  --------------------------------- 
 b)    Nature of                          Grant of nil cost option over 
        the transaction                    Ordinary Shares of GBP0.0005 
                                           each under the Softcat plc Long 
                                           Term Incentive Plan 
----  ---------------------------------  --------------------------------- 
 c)    Price(s)                            Price(s)   Volume(s) 
        and volume(s)                      ---------  ---------- 
                                            0.00       66,864 
                                           ---------  ---------- 
----  ---------------------------------  --------------------------------- 
 d)    Aggregated 
        information                         N/A 
        Aggregated 
        volume 
        Price 
----  ---------------------------------  --------------------------------- 
       Date of the 
 e)     transaction                         2018-04-04 
----  ---------------------------------  --------------------------------- 
 f)    Place of 
        the transaction                     Outside a trading venue 
----  ---------------------------------  ---------------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHZMGGDKKGGRZM

(END) Dow Jones Newswires

April 05, 2018 11:22 ET (15:22 GMT)

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