Director/PDMR Shareholding
Stagecoach Group plc
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Persons Closely Associated with them
Stagecoach Group plc 2013 Executive Participation Plan (the “EPP”)
Vesting of Awards
Awards made on 30 June 2016 (“2016 Awards”) under the 2013 EPP to directors and other persons discharging managerial responsibilities (“PDMR”s) of Stagecoach Group plc (the “Company”), vested on 1 July 2019, resulting in awards of notional interests in Ordinary Shares of 125/228thp in the Company (“Deferred Shares”) being released and transferred to those persons for nil consideration in accordance with the rules of the 2013 EPP.
The Company transferred to Martin Griffiths and Ross Paterson ordinary shares of 125/228thp each (“Ordinary Shares”) equivalent to the number of Deferred Shares in their respective awards, less a number of shares equivalent in value to payroll tax deductions due on the vesting of those awards. Mark Threapleton’s (PDMR) award of 22,135 Deferred Shares will be satisfied by a payment equivalent to the market value of 22,135 Ordinary Shares on 1 July 2019, subject to deduction of payroll taxes.
A summary of these transactions is set out below:
| Name of director/ PDMR | Number of Deferred Shares vesting under the 2016 Awards | Reduction in number of Deferred Share award to cover payroll taxes | Number of Ordinary Shares to be transferred to director/ PDMR | Satisfied by payment equivalent to market value, subject to payroll taxes |
| Martin Griffiths (Director) | 87,972 | 42,227 | 45,745 | 0 |
| Ross Paterson (Director) | 58,648 | 28,152 | 30,496 | 0 |
| Mark Threapleton (PDMR) | 22,135 | n/a | 0 | 22,135 |
The announcements on the vesting of the 2016 Awards, including the notifications below, are made in accordance with the requirements of the EU Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Martin Griffiths | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 125/228p ISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | Receipt, for nil consideration, of 45,745 Ordinary shares on the vesting of Deferred Share awards under the Stagecoach Group plc 2013 Executive Participation Plan, after deduction of sufficient Deferred Shares to cover payroll taxes. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Deferred Shares received | Nil consideration | 45,745 | |
| d) | Aggregated information — Aggregated volume — Price | Not Applicable | |
| e) | Date of the transaction | 2019-07-01 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Ross Paterson | |
| 2 | Reason for the notification | ||
| a) | Position/status | Finance Director | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 125/228p ISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | Receipt, for nil consideration, of 30,496 Ordinary shares on the vesting of Deferred Share awards under the Stagecoach Group plc 2013 Executive Participation Plan, after deduction of sufficient Deferred Shares to cover payroll taxes. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Deferred Shares received | Nil consideration | 30,496 | |
| d) | Aggregated information — Aggregated volume — Price | Not Applicable | |
| e) | Date of the transaction | 2019-07-01 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Mark Threapleton | |
| 2 | Reason for the notification | ||
| a) | Position/status | Managing Director, UK Bus Division (England and Wales) | |
| b) | Initial notification/ Amendment | This is an initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Stagecoach Group plc | |
| b) | LEI | 4L663LRNTBQ008OK2N07 | |
| 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 125/228p ISIN: GB00B6YTLS95 | |
| b) | Nature of the transaction | Cash Settlement by Stagecoach Group plc of an amount equivalent to the value of 22,135 Ordinary shares on the vesting of Deferred Share awards under the Stagecoach Group plc 2013 Executive Participation Plan, subject to deduction of payroll taxes. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Cash Settlement | Market Value GBP 1.173 | 22,135 | |
| d) | Aggregated information — Aggregated volume — Price | Not Applicable | |
| e) | Date of the transaction | 2019-07-01 | |
| f) | Place of the transaction | Outside a trading venue | |
For further information, please contact:
Analysts
Martin Griffiths, Chief Executive 01738 442111
Ross Paterson, Finance Director 01738 442111
Media
Steven Stewart, Director of Corporate Communications 07764 774680
1 July 2019
