5 July 2024
National Grid plc ('National Grid' or 'Company')
Notification of Transactions of Persons Discharging Managerial
Responsibilities ('PDMRs')
This announcement is made in accordance with Article 19 of the Market Abuse Regulation ('MAR') and relates to the acquisition of shares by the following Group Executive Committee members, who are also PDMRs, under the Company's Long Term Performance Plan ('LTPP').
These awards relate to the 2021 LTPP and are referred to in the Company's 2023/24 Annual Report and Accounts. The awards were conditional on continued employment with the Company and on the satisfaction of the performance conditions approved by the Remuneration Committee, which (after tax on the gross award) must be retained until the shareholding requirement is met, and in any event for Executive Directors two years after receipt. This award is subject to malus and clawback provisions.
The Company also announces a correction to the announcement made on 14 June 2024. On 3 July 2024 the Company was notified that due to an administration error, it was incorrectly announced that Andy Agg, Chief Financial Officer, sold 1,335 rights under the Share Incentive Plan pursuant to the 2024 Rights Issue. The amended announcement is included below in full which shows his full take-up of these rights.
In accordance with MAR the relevant Financial Conduct Authority ('FCA') notifications are set out below.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Andy Agg | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Financial Officer | ||||
| b)
| Initial notification /Amendment
| Amendment | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| National Grid plc | ||||
| b)
| LEI
| 8R95QZMKZLJX5Q2XR704 | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Acquisition of shares from a full take-up of rights over a Share Incentive Plan holding pursuant to the 2024 Rights Issue. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.06.12 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Andy Agg | ||||
| 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
| National Grid plc | ||||
| b)
| LEI
| 8R95QZMKZLJX5Q2XR704 | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Acquisition of shares in respect of the Long Term Performance Plan ('LTPP') 2021 award. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.01 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Sale of shares resulting from Long Term Performance Plan ('LTPP') award exercise to cover tax liabilities. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.02 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| | | | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Justine Campbell | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Group Chief Legal Officer | ||||
| b)
| Initial notification /Amendment
| Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| National Grid plc | ||||
| b)
| LEI
| 8R95QZMKZLJX5Q2XR704 | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Acquisition of shares in respect of the Long Term Performance Plan ('LTPP') 2021 award. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.01 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Sale of shares resulting from Long Term Performance Plan ('LTPP') award exercise to cover tax liabilities. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.02 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| John Pettigrew | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Executive | ||||
| b)
| Initial notification /Amendment
| Initial notification | ||||
| a)
| Name
| National Grid plc | ||||
| b)
| LEI
| 8R95QZMKZLJX5Q2XR704 | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Acquisition of shares in respect of the Long Term Performance Plan ('LTPP') 2021 award. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.01 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Sale of shares resulting from Long Term Performance Plan ('LTPP') award exercise to cover tax liabilities. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.02 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Ben Wilson | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Strategy and Regulation Officer | ||||
| b)
| Initial notification /Amendment
| Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| National Grid plc | ||||
| b)
| LEI
| 8R95QZMKZLJX5Q2XR704 | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Acquisition of shares in respect of the Long Term Performance Plan ('LTPP') 2021 award. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.01 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 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
| Ordinary shares of 12 204/473p each
GB00BDR05C01 | ||||
| b)
| Nature of the transaction
| Sale of shares resulting from Long Term Performance Plan ('LTPP') award exercise to cover tax liabilities. | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024.07.02 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
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