RNS Number : 6015C
SAGA PLC
13 June 2023
 

13 JUNE 2023

 

 

SAGA PLC (THE COMPANY) - DIRECTOR/PDMR SHAREHOLDING

 

Pursuant to the notification obligations under Article 19 of the Market Abuse Regulation, the Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility (PDMRs) in Ordinary Shares of 15 pence each in the Company (Shares).

 

GRANT OF AWARDS UNDER THE SAGA PLC 2023 RESTRICTED SHARE PLAN

On 12 June 2023, the following awards were granted over the Company's Shares under the Saga plc 2023 Restricted Share Plan (the RSP) to certain directors / PDMRs of the Company.

 

Name

Status

Number of Ordinary Shares under RSP Award

Award Price

Euan Sutherland

Director / PDMR

343,299

£ Nil

James Quin

Director / PDMR

176,602

£ Nil

Steve Kingshott

Director/PDMR

141,418

£ Nil

 

No consideration was paid for the grant of the RSP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each RSP Award has been calculated using the historic Ordinary Share price on 12 July 2022 of 174.8 pence per share which was used for the July 2022 Restricted Share Plan award.  

The normal vesting date of the RSP Awards will be 12 June 2026, being the third anniversary of the award date. Once vested, the RSP Awards will normally be exercisable until the day before the tenth anniversary of the award date.  The RSP Awards are subject to a two-year holding period commencing on vesting.

The RSP Awards will ordinarily vest after three years subject to the grantee's continued service and a discretionary underpin that allows the Remuneration Committee to make adjustments to the level of vesting if the Committee believes due to business performance, individual performance or wider Company considerations that the vesting should be adjusted.  This will include consideration of all relevant factors, including any windfall gains.

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

1.    Euan Sutherland

2.    James Quin

3.    Steve Kingshott

2.

Reason for the notification

a)

Position / status

1.    Director, Group Chief Executive Officer

2.    Director, Group Chief Financial Officer

3.    Director, Saga Insurance 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

 Saga plc

b)

LEI

 2138004WWUJN94K2LH95

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

Identification code

 Ordinary shares of 15 pence

 

GB00BMX64W89

b)

Nature of transaction

Grant of nil cost option under the Saga plc 2023 Restricted Share Plan

c)

Price(s) and volume(s)

Price(s)

 

Volume(s)

1.   £nil

2.   £nil

3.   £nil

343,299

176,602

141,418

d)

Aggregated information

-     Aggregated volume

-     Price

 

N/A

e)

Date of the transaction

 12 June 2023

f)

Place of the transaction

 Outside of trading venue

 

 

 

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