22 July 2024
Polar Capital Holdings plc ("Polar Capital" or the "Company")
Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)
Grant of 2024 Long Term Incentive Plan Awards (LTIP)
Polar Capital announces the grant of conditional share awards over ordinary shares of 2.5 pence each in Polar Capital Holdings PLC ("Awards") on 16 July 2024 to the following Directors and PDMRs of the Company in accordance with the rules of the 2016 Executive Incentive Plan.
| Director / PDMR | Position | No. of shares under Award |
| Gavin Rochussen | Chief Executive Officer | 167,399 |
| Samir Ayub | Chief Financial Officer | 86,993 |
| Alexander Black | Chief Investment Officer | 95,693 |
| Iain Evans | Global Head of Distribution | 95,693 |
| Nicholas Farren | Chief Operating Officer | 83,530 |
The terms of the LTIP award provide for vesting on the third anniversary of grant, subject to continued employment and performance based on the following measures:
- 35% of each Award is subject to a performance condition requiring the Company's adjusted diluted total earnings per share to achieve a pre-set level for the financial year 2026/27 which is the end of three financial years commencing on 1 April 2024 (the 'Performance Period').
- 35% of each Award is subject to a performance condition relating to the performance of the Company's total shareholder return relative to the constituents of the FTSE 250 Index (excluding investment trusts) during the performance period.
- 10% of each Award is subject to a performance condition measured by reference to the cumulative net inflows to Polar Group funds from two key geographic locations during the performance period.
- 20% of each Award is subject to a performance condition measured by reference to strategic progress towards enhancing the investment proposition for the Company's investors during the performance period. This will comprise a combination of qualitative and quantitative assessment of progress made towards expanding the investment team and product offering in key geographic areas (10%) and towards the Group's people development and retention offering (10%).
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Gavin Rochussen | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 2.5 pence each in Polar Capital Holdings PLC
| ||||
| | Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Samir Ayub | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Chief Financial Officer | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 2.5 pence each in Polar Capital Holdings PLC
| ||||
| | Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Alexander Black | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Chief Investment Officer | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 2.5 pence each in Polar Capital Holdings PLC
| ||||
| | Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Iain Evans | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Global Head of Distribution | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 2.5 pence each in Polar Capital Holdings PLC
| ||||
| | Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Nicholas Farren | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Chief Operating Officer | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Polar Capital Holdings PLC | ||||
| b) | LEI | 549300OXX7YE1947B825 | ||||
| 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 2.5 pence each in Polar Capital Holdings PLC
| ||||
| | Identification code | GB00B1GCLT25 | ||||
| b) | Nature of the transaction | Grant of an award under the Company's 2016 Executive Incentive Plan as a conditional award. Awards may vest after 3 years subject to performance and continued service. Any vested shares will normally be subject to a holding period ending on the fifth anniversary of grant. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
| e) | Date of the transaction | 16 July 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
Polar Capital +44 (0)20 7227 2700
Gavin Rochussen (Chief Executive Officer)
Samir Ayub (Chief Financial Officer)
Deutsche Numis - Nomad and Joint Broker +44 (0)20 7260 1000
Giles Rolls (QE)
Charles Farquhar
Peel Hunt LLP - Joint Broker +44 (0)20 3597 8680
Andrew Buchanan
Sam Milford
Camarco +44 (0)20 7757 4995
Ed Gascoigne-Pees
Jennifer Renwick
Phoebe Pugh
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