Ricardo PLC
Director / PDMR Shareholdings
20 November 2023
London
1. 2020 Long Term Incentive Plan - grant of plan cycle 17 awards
Ricardo PLC (the "Company") announces that, on 16 November 2023 conditional awards over a total of 695,271 shares of 25 pence each in the Company ("Shares") were granted to Executive Directors and other Persons Discharging Managerial Responsibility ("PDMRs") as set out below under the terms of the Company's 2020 Long Term Incentive Plan (the "LTIP"). These awards vest after three years and are subject to TSR, EPS and ESG performance conditions and continued employment. The awards granted to the Executive Directors will also be subject to a two-year holding following the date of vesting. These awards are also inclusive of the one-off 'Accelerator' LTIP award that will vest subject to the achievement of stretching EPS targets in excess of that required to trigger maximum vesting of the 'Core' LTIP award.
| Name | Role | No. of Shares over which awards granted |
| Graham Ritchie | Executive Director | 268,705 |
| Judith Cottrell | Executive Director | 186,389 |
| Mike Bell | PDMR | 43,516 |
| Chester Gryczan | PDMR | 39,220 |
| Mary Moore | PDMR | 21,199 |
| Natasha Perfect | PDMR | 24,034 |
| Harpreet Sagoo | PDMR | 25,532 |
| Rachel White | PDMR | 57,726 |
| Clive Wotton | PDMR | 28,950 |
2. 2021 Deferred Bonus Plan - grant of deferred bonus awards
Ricardo PLC (the "Company") announces that, on 16 November 2023, conditional awards over a total of 26,932 Shares were granted to Executive Directors and other PDMRs as set out below under the terms of the Company's 2021 Deferred Bonus Plan (the "DBP"). Subject to continuing employment, the awards granted to the Executive Directors vest after three years and the awards granted to other PDMRs (with the exception of Mike Bell, Chester Gryczan and Rachel White, whose awards vest in equal tranches on the first, second and first anniversaries of grant) vest on the first anniversary of grant. These DBP awards (which include dividend equivalent entitlements) are not subject to performance conditions.
| Name | Role | No. of Shares over which awards granted |
| Graham Ritchie | Executive Director | 10,452 |
| Mike Bell | PDMR | 7,299 |
| Chester Gryczan | PDMR | 6,204 |
| Mary Moore | PDMR | 277 |
| Natasha Perfect | PDMR | 220 |
| Rachel White | PDMR | 1,829 |
| Clive Wotton | PDMR | 651 |
3. Current total holdings of awards/options over shares
Following the above notification, the total number of Shares over which the relevant Executive Directors and other PDMRs hold outstanding awards / options is set out below:
| Name | Role | Total holding following this notification | Approximate % of Company's issued share capital |
| Graham Ritchie | Executive Director | 628,007 | 1.009% |
| Judith Cottrell | Executive Director | 186,389 | 0.300% |
| Mike Bell | PDMR | 107,028 | 0.172% |
| Chester Gryczan | PDMR | 124,439 | 0.200% |
| Mary Moore | PDMR | 42,495 | 0.068% |
| Natasha Perfect | PDMR | 44,105 | 0.071% |
| Harpreet Sagoo | PDMR | 25,532 | 0.041% |
| Rachel White | PDMR | 94,122 | 0.151% |
| Clive Wotton | PDMR | 72,533 | 0.117% |
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Graham Ritchie | ||||||
| 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 | Ricardo plc | ||||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||||
| 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 25p each ("Shares") | ||||||
| Identification code | GB0007370074 | |||||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan and the Ricardo plc 2021 Deferred Bonus Plan | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
279,157 | ||||||
| e) | Date of the transaction | 2023-11-16 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Judith Cottrell | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR: Chief Finance Officer | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ricardo plc | ||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Conditional award of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
| e) | Date of the transaction | 2023-11-16 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Mike Bell | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR: Chief Strategy and Digital Officer | ||||||
| b) | Initial notification/ Amendment | Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Ricardo plc | ||||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||||
| 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 25p each ("Shares") | ||||||
| Identification code | GB0007370074 | |||||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan and the Ricardo plc 2021 Deferred Bonus Plan | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
50,815 | ||||||
| e) | Date of the transaction | 2023-11-16 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Chester Gryczan | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR: President - Ricardo Defense Systems | ||||||
| b) | Initial notification/ Amendment | Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Ricardo plc | ||||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||||
| 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 25p each ("Shares") | ||||||
| Identification code | GB0007370074 | |||||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan and the Ricardo plc 2021 Deferred Bonus Plan | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
45,424 | ||||||
| e) | Date of the transaction | 2023-11-16 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Mary Moore | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR: Group People, Team and Organisation Director | ||||||
| b) | Initial notification/ Amendment | Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Ricardo plc | ||||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||||
| 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 25p each ("Shares") | ||||||
| Identification code | GB0007370074 | |||||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan and the Ricardo plc 2021 Deferred Bonus Plan | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
21,476 | ||||||
| e) | Date of the transaction | 2023-11-16 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Natasha Perfect | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR: Group Marketing and Communications Director | ||||||
| b) | Initial notification/ Amendment | Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Ricardo plc | ||||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||||
| 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 25p each ("Shares") | ||||||
| Identification code | GB0007370074 | |||||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan and the Ricardo plc 2021 Deferred Bonus Plan | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
24,254 | ||||||
| e) | Date of the transaction | 2023-11-16 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Harpreet Sagoo | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR: General Counsel and Company Secretary | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ricardo plc | ||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
N/A | ||||
| e) | Date of the transaction | 2023-11-16 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Rachel White | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR: Global President Clean Energy and Environmental Solutions | ||||||
| b) | Initial notification/ Amendment | Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Ricardo plc | ||||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||||
| 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 25p each ("Shares") | ||||||
| Identification code | GB0007370074 | |||||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan and the Ricardo plc 2021 Deferred Bonus Plan | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
59,555 | ||||||
| e) | Date of the transaction | 2023-11-16 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Clive Wotton | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR: Group Director, Sustainability, Quality and Risk | ||||||
| b) | Initial notification/ Amendment | Initial Notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Ricardo plc | ||||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||||
| 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 25p each ("Shares") | ||||||
| Identification code | GB0007370074 | |||||||
| b) | Nature of the transaction | Conditional awards of shares pursuant to the rules of the Ricardo plc 2020 Long Term Incentive Plan and the Ricardo plc 2021 Deferred Bonus Plan | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
29,601 | ||||||
| e) | Date of the transaction | 2023-11-16 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
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