REG - Dr. Martens PLC - Director/PDMR Shareholding

Dr MartensAnnouncement

14/06/2024 13:00

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RNS Number : 5478S  Dr. Martens PLC  14 June 2024

Dr. Martens plc (the 'Company')

Director/PDMR Shareholding

Notification of Transactions by Directors/Persons Discharging Managerial
Responsibility

The Company announces that on 14 June 2024 the following directors / persons
discharging managerial responsibility ('PDMR') were granted Performance Share
Awards (the 'Awards') under the Company's Long Term Incentive Plan (the
'LTIP').

 

 PDMR          Number of Shares
 Kenny Wilson  2,186,147
 Giles Wilson  1,441,736

 

The Awards will vest subject to the achievement of earnings per share ('EPS')
(50% weighting), relative total shareholder return ('TSR') (25% weighting),
and operating cash flow conversion (25% weighting) targets over three years
and, on vesting, will be subject to a further two-year holding period. In
recognition of the lower share price since the last grant, the grant
percentage has been scaled back from the normal policy level of 300% to 250%
of base salary.

No consideration was paid for the grant of the Award and no price is payable
on the exercise of the Award.

The basis of the TSR measure and the target range for the EPS measure are both
unchanged from FY24. The TSR performance measure will be based on relative
performance against the companies within the FTSE 350 Index (excluding
Investment Trusts). The target range for the three-year EPS CAGR is 3% to 11%,
against the base year of FY24, which the Committee views as suitably
stretching. The operating cash flow conversion target is calculated as
operating cash flow (EBITDA less change in net working capital, share-based
payment expense and capital expenditure) divided by EBITDA, based on the
average of the annual operating cash flow over the three-year performance
period with a target range of 60% to 90%, representing a material improvement
over the three-year performance period compared to the FY24 equivalent.

Full details of the target ranges will be set out in the Directors'
Remuneration Report contained within the 2025 Annual Report & Accounts.

The relevant notifications set out below are provided in accordance with the
requirements of Article 19 of the UK Market Abuse Regulation.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Kenny Wilson
 2   Reason for the notification
 a)  Position/status                                              PDMR (Chief Executive Officer)
 b)  Initial notification/Amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Dr. Martens plc
 b)  LEI                                                          213800QPT8YM6NQZPH28
 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 GBP 0.01

     Identification code                                          ISIN: GB00BL6NGV24
 b)  Nature of the transaction                                    Grant of performance share award under the Dr. Martens Long Term Incentive
                                                                  Plan
 c)  Price(s) and volume(s)                                           Price(s)  Volume(s)
                                                                    Nil       2,186,147
 d)  Aggregated information

- Aggregated volume

     - Price                                                      2,186,147

                                                            Nil

 
 e)  Date of the transaction                                      14 June 2024
 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

 -  Aggregated volume
 -  Price

 

 

2,186,147

Nil

e)

Date of the transaction

14 June 2024

f)

Place of the transaction

Outside of a trading venue

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Giles Wilson
 2   Reason for the notification
 a)  Position/status                                              PDMR (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                                                         Dr. Martens plc
 b)  LEI                                                          213800QPT8YM6NQZPH28
 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 GBP 0.01

     Identification code                                          ISIN: GB00BL6NGV24
 b)  Nature of the transaction                                    Grant of performance share award under the Dr. Martens Long Term Incentive
                                                                  Plan
 c)  Price(s) and volume(s)                                           Price(s)  Volume(s)
                                                                    Nil       1,441,736
 d)  Aggregated information

- Aggregated volume

     - Price                                                      1,441,736

                                                            Nil

 
 e)  Date of the transaction                                      14 June 2024
 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

 -  Aggregated volume
 -  Price

 

 

1,441,736

Nil

e)

Date of the transaction

14 June 2024

f)

Place of the transaction

Outside of a trading venue

 

For further information, please contact:

Paul Rolling, Assistant Company Secretary

+447584243562

Bethany Barnes, Director of Investor Relations

+447825187465

ENDS

About Dr. Martens

Dr. Martens is an iconic British brand founded in 1960 in Northamptonshire.
Produced originally for workers looking for tough, durable boots, the brand
was quickly adopted by diverse youth subcultures and associated musical
movements. Dr. Martens has since transcended its working-class roots while
still celebrating its proud heritage and, six decades later, "Docs" or "DM's"
are worn by people around the world who use them as a symbol of empowerment
and their own individual attitude. The Company is a constituent of the FTSE
250 index.

 

 

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