Softcat PLC Director/PDMR Shareholding (5328I)
November 26 2018 - 11:09AM
UK Regulatory
TIDMSCT
RNS Number : 5328I
Softcat PLC
26 November 2018
26 November 2018
Softcat plc (the "Company")
Notification of Transactions by
Persons Discharging Managerial Responsibilities
The following notification made under article 19.1 of the Market
Abuse Regulation ("MAR") relates to awards of nil-cost options to
persons discharging managerial responsibilities ("PDMR") on 21
November 2018 under the Softcat plc Long Term Incentive Plan
("LTIP"). This announcement is made in accordance with Article 19.3
of MAR.
Softcat plc Long Term Incentive Plan
On 21 November 2018, awards under the Company's Long Term
Incentive Plan (the "LTIP") were made as outlined below.
An award of nil-cost options to acquire 75,000 number of 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 (600.00 pence). The award will vest
subject to the performance conditions outlined below.
An award of nil-cost options to acquire 50,000 number of shares
was made to Graham Charlton, 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 (600.00 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
2021:
EPS % of Award vesting
Less than 29.3 pence Nil
29.3 pence 20%
35.7 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 21 November 2021 and the last date for exercise will
be 20 November 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 / status CEO
------------------------------------------ --------------------------------------------
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 each
of the financial ISIN: GB00BYZDVK82
instrument
Identification
Code
------------------------------------------ --------------------------------------------
b) Nature of the Grant of nil cost option over Ordinary
transaction Shares of GBP0.0005 each under the Softcat
plc Long Term Incentive Plan
------------------------------------------ --------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.00 75,000
----------
------------------------------------------ --------------------------------------------
d) Aggregated information
Aggregated volume N/A
Price
------------------------------------------ --------------------------------------------
Date of the
e) transaction 2018-11-21
------------------------------------------ --------------------------------------------
f) Place of the
transaction Outside a trading venue
------------------------------------------ --------------------------------------------
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Graham Charlton
------------------------------------------ --------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------------
a) Position / status CFO
------------------------------------------ --------------------------------------------
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 each
of the financial ISIN: GB00BYZDVK82
instrument
Identification
Code
------------------------------------------ --------------------------------------------
b) Nature of the Grant of nil cost option over Ordinary
transaction Shares of GBP0.0005 each under the Softcat
plc Long Term Incentive Plan
------------------------------------------ --------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.00 50,000
----------
------------------------------------------ --------------------------------------------
d) Aggregated information
Aggregated volume N/A
Price
------------------------------------------ --------------------------------------------
Date of the
e) transaction 2018-11-21
------------------------------------------ --------------------------------------------
f) Place of the
transaction Outside a trading venue
------------------------------------------ --------------------------------------------
Softcat plc
26 November 2018
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END
DSHGMMZMVVNGRZM
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