Land Securities Group PLC
(Company)
Notification of transactions by
Persons Discharging Managerial Responsibilities (PDMRs)
On 20 June 2024, the PDMRs listed below (who are both Executive Directors) acquired an interest in Options over the Company's Shares following the grant of awards. Mark Allan and Vanessa Simms were granted awards under the Company's Deferred Share Bonus Plan (DSBP) and the Company's Long-Term Incentive Plan (LTIP). The number of Options were calculated by reference to a price of £6.095, being the Company's middle market quotation price for a share on 19 June 2024.
DSBP: Awards granted in accordance with the Company's DSBP follow the deferral of the PDMR's bonus entitlement for the year ended 31 March 2024. Subject to continued employment with Landsec, the PDMRs will become entitled to exercise the Options arising from the DSBP between 20 June 2025 and 20 June 2029.
LTIP: LTIP awards normally vest on the third anniversary of grant subject to the Company's achievement of certain Total Shareholder Return, Total Return on Equity and Environmental, Social and Governance (includes Carbon Reduction and D&I targets) performance conditions for the three-year financial period ending 31 March 2027. The figures shown below are the maximum entitlement should the awards vest in full. Subject to continued employment with Landsec and the scheme rules, the PDMRs will become entitled to exercise the Options arising from the LTIP between 20 June 2027 and 20 June 2034.
| 1 | Details of the person discharging managerial responsibilities | |||
| a) | Name | Mark Allan | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Chief Executive Officer | ||
| b) | Initial notification/Amendment | Initial | ||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | Land Securities Group PLC | ||
| 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 code | - Shares | ||
| | - GB00BYW0PQ60 | |||
| b) | Nature of transaction | Award of Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| | | £6.095 | 28,596 | |
| d) | Aggregated information | | | |
| | | | ||
| - Aggregated volume | | | ||
| - Price | Total Price £174,295 | | ||
| e) | Date of the transaction | 20/06/2024 | ||
| f) | Place of the transaction | N/A | ||
| 1 | Details of the person discharging managerial responsibilities | |||
| a) | Name | Mark Allan | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Chief Executive Officer | ||
| b) | Initial notification/Amendment | Initial | ||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | Land Securities Group PLC | ||
| 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 code | - Shares | ||
| | - GB00BYW0PQ60 | |||
| b) | Nature of transaction | Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| | | £6.095 | 434,455 | |
| d) | Aggregated information | | | |
| | | | ||
| - Aggregated volume | | | ||
| - Price | Total Price £2,648,004 | | ||
| e) | Date of the transaction | 20/06/2024 | ||
| f) | Place of the transaction | N/A | ||
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Vanessa Simms | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Financial Officer | |
| b) | Initial notification/Amendment | Initial | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Land Securities Group PLC | |
| 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 code | - Shares | |
| | - GB00BYW0PQ60 | ||
| b) | Nature of transaction | Award of Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan. | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | £6.095 |
20,082
|
| d) | Aggregated information | | |
| | | | |
| - Aggregated volume | | | |
| - Price | Total Price £122,402 | | |
| e) | Date of the transaction | 20/06/2024 | |
| f) | Place of the transaction | N/A | |
| 1 | Details of the person discharging managerial responsibilities | |||
| a) | Name | Vanessa Simms | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Chief Financial Officer | ||
| b) | Initial notification/Amendment | Initial | ||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | Land Securities Group PLC | ||
| 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 code | - Shares | ||
| | - GB00BYW0PQ60 | |||
| b) | Nature of transaction | Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| | | £6.095 | 266,104 | |
| d) | Aggregated information | | | |
| | | | ||
| - Aggregated volume | | | ||
| - Price | Total Price £1,621,905 | | ||
| e) | Date of the transaction | 20/06/2024 | ||
| f) | Place of the transaction | N/A | ||
For further information, please contact:
Land Securities Group PLC
Maria Smout
Senior Assistant Company Secretary
Tel: 020-7024 5264
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