3 May 2023
Persimmon Plc (the "Company")
Director/PDMR Shareholding
Persimmon Plc announces that on 2 May 2023 awards were granted to Dean Finch, Group Chief Executive, and Jason Windsor, Chief Financial Officer, for 105,341 and 95,219 shares respectively, under the Persimmon Plc 2017 Performance Share Plan. The three year performance period will run from 1 January 2023 to 31 December 2025 and there is a further two year holding period before the shares can be released to the Executive Directors.
The performance condition for the awards consists of four metrics; relative TSR (35%); cash generation (35%); customer care (20%) and carbon reduction (10%). The TSR and customer care performance measures were disclosed in the 2022 Directors' Remuneration Report. The cash generation and carbon reduction performance measures are set out below:
| Performance measure | Threshold (25% vesting) | Target (50% vesting) | Maximum (100% vesting) |
| Average pre-land cash generation* over the three year performance period | £428m | £503m | £579m |
| Scope 1 & 2 carbon emissions per home completed for the year ending 31 December 2025 | 1.69 tonnes CO2e per home completed | 1.68 tonnes CO2e per home completed | 1.67 tonnes CO2e per home completed |
*Net cash inflow before dividends, net land payments and legacy buildings provision spend.
A ROCE underpin has been maintained for the pre-land cash measure.
Full details will be disclosed in the 2023 Directors' Remuneration Report.
The below notification, made in accordance with the requirements of article 19.3 of the Market Abuse Regulation, gives further details:
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Dean Finch | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Group Chief Executive | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Persimmon Plc | |||
| b)
| LEI
| 213800XI72Y57UWN6F31 | |||
| 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
| ||||
| | Transaction 1 | | |||
| a)
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each | |||
| | | ||||
| Identification code | GB0006825383 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of award made under the 2017 Performance Share Plan subject to performance criteria | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil | 105,341 | | |
| | |
| | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A Single transaction | ||||
| | | ||||
| - Price | N/A Single transaction | ||||
| | | ||||
| e)
| Date of the transaction
| 2 May 2023 | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Jason Windsor | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| 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
| Persimmon Plc | |||
| b)
| LEI
| 213800XI72Y57UWN6F31 | |||
| 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
| ||||
| | Transaction 1 | | |||
| a)
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each | |||
| | | ||||
| Identification code | GB0006825383 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of award made under the 2017 Performance Share Plan subject to performance criteria | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil | 95,219 | | |
| | |
| | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A Single transaction | ||||
| | | ||||
| - Price | N/A Single transaction | ||||
| | | ||||
| e)
| Date of the transaction
| 2 May 2023 | |||
Tracy Davison
Company Secretary
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.