REG - SSE Plc - Director/PDMR Shareholding
03/06/2024 16:30
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RNS Number : 9219Q SSE PLC 03 June 2024
SSE plc
Director/PDMR Shareholding
SSE plc (the "Company") - Notification of Transactions of Directors/Persons
Discharging Managerial Responsibilities and their Closely Associated Persons
(i) Deferred Bonus Scheme (DBS) - Vesting of Awards
Granted 6 July 2021
On 31 May 2024, the independent Trustee of the SSE Employee Trust notified the
Company that it had on 30 May 2024 transferred the following beneficial
interest of Ordinary shares of 50 pence each fully paid in the Company,
pursuant to awards granted on 6 July 2021 under the DBS including additional
shares representing the value of reinvested dividends over the three-year
period to the Directors/PDMRs listed in the table that follows. Vesting of
these shares was subject to continuous employment over the three-year period
from date of grant (or as provided by the DBS Plan Rules).
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Alistair Phillips-Davies (Director)
Barry O'Regan (Director)
Martin Pibworth (Director)
Chris Burchell (PDMR)
Rob McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
2 Reason for the notification
a) Position/status As noted in 1a) above
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name SSE plc
b) LEI 549300KI75VYLLMSK856
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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Vesting of Awards under the SSE plc Deferred Bonus Scheme
c) Price(s) and volume(s) Vesting of awards granted under the SSE plc Deferred Bonus Scheme on 6 July
2021 at a vesting price of GBP£17.128269
Executive Director/PDMR Gross Award of Shares
No. Shares sold at £17.128269 to meet income tax and National Insurance
liabilities
Net Number of Shares transferred to Participant
Accrued Dividend Shares
Total Shares
Alistair Phillips-Davies (Director) 20,650 3,383 24,033 11,336 12,697
Barry O'Regan (Director) 2,534 412 2,946 1,538 1,408
Martin Pibworth (Director) 11,174 1,828 13,002 6,524 6,478
Chris Burchell 1,916 312 2,228 1,051 1,177
(PDMR)
Rob McDonald 4,473 730 5,203 2,611 2,592
(PDMR)
Sam Peacock 2,146 350 2,496 1,178 1,318
(PDMR)
John Stewart 2,984 486 3,470 1,742 1,728
(PDMR)
Elizabeth Tanner 3,025 492 3,517 1,659
(PDMR) 1,858
Stephen Wheeler 3,686 601 4,287 2,238
(PDMR) 2,049
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 30 May 2024
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
30 May 2024
f)
Place of transaction
Outside a trading venue
(ii) Performance Share Plan (PSP) - Vesting of Awards
Granted 6 July 2021
On 31 May 2024 the independent Trustee of the SSE Employee Trust notified the
Company that it had on 30 May 2024 transferred the beneficial interest of
Ordinary shares of 50 pence each fully paid in the Company, pursuant to awards
granted on 6 July 2021 under the PSP including additional shares representing
the value of reinvested dividends over the three-year period to the Executive
Directors listed in the table that follows. Vesting of these shares was
subject to certain performance conditions being met at the end of the
three-year performance period commencing 1 April 2021. In total 62% of the
award vested for participants. The vested shares (balance post-tax), known
as "Award Shares" for Alistair Phillips-Davies and Martin Pibworth are subject
to a further holding period and will be held under nominee in accordance with
the PSP Rules.
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Alistair Phillips-Davies (Executive Director)
Martin Pibworth (Executive Director)
2 Reason for the notification
a) Position/status As noted in 1a) above
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name SSE plc
b) LEI 549300KI75VYLLMSK856
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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Vesting of Awards under the SSE plc Performance Share Plan.
c) Price(s) and volume(s) Vesting of awards granted under the SSE plc Performance Share Plan on 6 July
2021 at a vesting price of GBP£17.128269
Executive Director/PDMR Gross Award of Shares No. Shares sold at £17.128269 to meet income tax and National Insurance
liabilities
Award Shares transferred to Nominee
Total Shares vested at 62%
Accrued Dividend Shares
Alistair Phillips-Davies (Executive Director) 122,131 20,009 88,125 41,565 46,560
Martin Pibworth 73,597 12,055 53,103 26,645
(Executive Director) 26,458
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 30 May 2024
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
30 May 2024
f)
Place of transaction
Outside a trading venue
(iii) Leadership Share Plan (LSP) - Vesting of Awards
Granted 6 July 2021
On 31 May 2024 the independent Trustee of the SSE Employee Trust notified the
Company that it had on 30 May 2024 transferred the beneficial interest of
Ordinary shares of 50 pence each fully paid in the Company, pursuant to awards
granted on 6 July 2021 under the LSP including additional shares representing
the value of reinvested dividends over the three-year period to the PDMRs
listed in the table that follows. Vesting of these shares was subject to
certain performance conditions being met at the end of the three-year
performance period commencing 1 April 2021. In total 86% of the award vested
for participants.
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Barry O'Regan (Director)
Chris Burchell (PDMR)
Rob McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
2 Reason for the notification
a) Position/status As noted in 1a) above
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name SSE plc
b) LEI 549300KI75VYLLMSK856
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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Vesting of Awards under the SSE plc Leadership Share Plan.
c) Price(s) and volume(s) Vesting of awards granted under the SSE plc Leadership Share Plan on 6 July
2021 at a vesting price of GBP£17.128269
Executive Director/PDMR Gross Award of Shares
No. Shares sold at £17.128269 to meet income tax and National Insurance
liabilities
Total Shares vested at 86% Net Number of Shares transferred to Participant
Accrued Dividend Shares
Barry O'Regan (Director) 15,616 2,556 15,623 8,153 7,470
Chris Burchell (PDMR) 30,039 4,920 30,063 14,180 15,883
Rob McDonald (PDMR) 24,372 3,991 24,388 12,237 12,151
Sam Peacock (PDMR) 11,682 1,911 11,686 5,512 6,174
John Stewart (PDMR) 17,514 2,866 17,523 8,793 8,730
Liz Tanner (PDMR) 18,175 2,976 18,188 8,579 9,609
Stephen Wheeler (PDMR) 17,679 2,894 17,690 9,232 8,458
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 30 May 2024
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
30 May 2024
f)
Place of transaction
Outside a trading venue
(i) Deferred Bonus Scheme (DBS) - Grant of Awards
On 31 May 2024 the independent Trustee of the SSE Employee Trust notified the
Company that it had on 30 May 2024 granted the Directors/PDMRs listed in the
table that follows awards over Ordinary shares of 50 pence each fully paid in
the Company under the DBS. The number of shares under each award has been
calculated by reference to a price of £17.31 per share, being the average of
the Company's share price over the three dealing days immediately preceding
the date of grant.
Awards granted under the DBS represent a deferral of a proportion of the cash
bonus earned for the 2023/24 annual incentive year which is converted into
shares. The shares will vest after a period of three years from the date of
grant subject normally to the participant remaining in employment with the
Company. On vesting, the participant will become entitled to additional
shares representing the value of reinvested dividends over the three-year
period.
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Alistair Phillips-Davies (Director)
Barry O'Regan (Director)
Martin Pibworth (Director)
Christopher Burchell (PDMR)
Rob McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
2 Reason for the notification
a) Position/status As noted in 1a) above
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name SSE plc
b) LEI 549300KI75VYLLMSK856
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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Grant of Awards under the SSE plc Deferred Bonus Scheme
c) Price(s) and volume(s) Conditional awards of shares, the number of shares calculated by reference to
a price of GBP£17.31, being the average of the Company's share price over the
three dealing days immediately preceding the date of grant.
Director/PDMR Total DBS Awards Granted
19,716
Alistair Phillips-Davies (Director)
2,974
Barry O'Regan (Director)
11,768
Martin Pibworth (Director)
5,402
Christopher Burchell (PDMR)
5,945
Robert McDonald (PDMR)
2,726
Sam Peacock (PDMR)
3,435
John Stewart (PDMR)
3,816
Elizabeth Tanner (PDMR)
4,710
Stephen Wheeler (PDMR)
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 30 May 2024, date of grant
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
30 May 2024, date of grant
f)
Place of transaction
Outside a trading venue
(ii) Performance Share Plan (PSP) - Grant of Awards
On 31 May 2024 the independent Trustee of the SSE Employee Trust notified the
Company that it had on 30 May 2024 granted the Executive Directors listed in
the table that follows awards over Ordinary shares of 50 pence each fully paid
in the Company under the PSP. The number of shares stated will become
available to each Executive Director if the performance targets applicable to
the award are achieved at their upper limit or above. On vesting, the
Executive Director will become entitled to additional shares representing the
value of reinvested dividends over the performance period. The number of
shares under each award has been calculated by reference to a price of £17.31
per share, being the average of the Company's share price over the three
dealing days immediately preceding the date of grant.
Vesting of these awards will normally only take place if performance
conditions are satisfied over the three-year performance period 1 April 2024
to 31 March 2027. These performance conditions are those indicated in the
Remuneration Committee Report which forms part of SSE's 2024 Annual Report and
Accounts which will be published on 14 June 2024.
Awards granted to Executive Directors will be subject to an additional
post-vesting holding period during which time the Executive Director must
retain the post-tax number of shares vesting under award.
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Alistair Phillips-Davies (Executive Director)
Barry O'Regan (Executive Director)
Martin Pibworth (Executive Director)
2 Reason for the notification
a) Position/status As noted in 1a) above
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name SSE plc
b) LEI 549300KI75VYLLMSK856
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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Grant of Awards under the SSE plc Performance Share Plan
c) Price(s) and volume(s) Conditional awards of shares, the number of shares calculated by reference to
a price of GBP£17.31, being the average of the Company's share price over the
three dealing days immediately preceding the date of grant.
Director Total PSP Awards Granted
Alistair Phillips-Davies 150,807
Barry O'Regan 84,489
Martin Pibworth 97,499
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 30 May 2024, date of grant
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
30 May 2024, date of grant
f)
Place of transaction
Outside a trading venue
(iii) Leadership Share Plan (LSP) - Grant of Awards
On 31 May 2024 the independent Trustee of the SSE Employee Trust notified the
Company that it had on 30 May 2024 granted the PDMRs listed in the table that
follows awards over Ordinary shares of 50 pence each fully paid in the Company
under the LSP. The number of shares stated is the number which will become
available if the performance targets applicable to the awards are achieved,
although the number could be increased or reduced by the Company performance
adjuster described below. On vesting, the PDMRs will become entitled to
additional shares representing the value of reinvested dividends over the
performance period.
The number of shares under the award has been calculated by reference to a
price of £17.31 per share, being the average of the Company's share price
over the three dealing days immediately preceding the date of grant.
Vesting of the award will normally only take place if the performance
conditions are achieved over the three-year performance period 1 April 2024 to
31 March 2027. In addition, an overall Company performance adjuster,
allowing vesting rates to be adjusted up or down by up to 25% at the
discretion of the Remuneration Committee, may be applied if overall
performance of the Company over the performance period merits such an upward
or downward adjustment.
1 Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Christopher Burchell (PDMR)
Robert McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
2 Reason for the notification
a) Position/status As noted in 1a) above
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name SSE plc
b) LEI 549300KI75VYLLMSK856
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 Ordinary shares of 50 pence each fully paid
code
ISIN: GB0007908733
b) Nature of transaction Grant of Awards under the SSE plc Leadership Share Plan
c) Price(s) and volume(s) Conditional awards of shares, the number of shares calculated by reference to
a price of GBP£17.31, being the average of the Company's share price over the
three dealing days immediately preceding date of grant.
PDMR Total LSP Awards Granted
30,867
Christopher Burchell (PDMR)
31,088
Rob McDonald (PDMR)
15,887
Sam Peacock (PDMR)
19,107
John Stewart (PDMR)
21,231
Elizabeth Tanner (PDMR)
31,648
Stephen Wheeler (PDMR)
d) Aggregated information
- Aggregated volume As noted in 4c) above
- Price As noted in 4c) above
e) Date of transaction 30 May 2024, date of grant
f) Place of transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
As noted in 4c) above
As noted in 4c) above
e)
Date of transaction
30 May 2024, date of grant
f)
Place of transaction
Outside a trading venue
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