Ricardo PLC
Director / PDMR Shareholdings
18 December 2023
London
1. 2020 Long Term Incentive Plan - grant of plan cycle 17B awards
Ricardo PLC (the "Company") announces that, on 15 December 2023, a conditional award over a total of 24,514 shares of 25 pence each in the Company ("Shares") was granted to Jason O'Donnell, a Person Discharging Managerial Responsibility ("PDMR") as set out below under the terms of the Company's 2020 Long Term Incentive Plan (the "LTIP"). The award will vest on 16 November 2026 and is subject to TSR, EPS and ESG performance conditions and continued employment. The award is 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 |
| Jason O'Donnell | PDMR | 24,514 |
2. 2020 Long Term Incentive Plan - grant of discretionary retention awards
The Company also announces that, on 15 December 2023, a discretionary retention award over a total of 15,000 Shares was granted to Jason O'Donnell, a PDMR, as set out below under the terms of the Company's LTIP. This award will vest on 16 November 2026 and is not subject to any performance conditions.
| Name | Role | No. of Shares over which awards granted |
| Jason O'Donnell | PDMR | 15,000 |
3. Current total holdings of awards/options over shares
Following the above notification, the total number of Shares over which the relevant PDMR holds outstanding awards / options is set out below:
| Name | Role | Total holding following this notification | Approximate % of Company's issued share capital |
| Jason O'Donnell | PDMR | 54,430 | 0.087% |
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 | Jason O'Donnell | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR: Managing Director - Global A&I | ||||||
| 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 and retention 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 |
39,514 Nil | ||||||
| e) | Date of the transaction | 2023-12-15 | ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
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