LEI: 213800RPBXRETY4A4C59
Severn Trent Plc (the "Company") - Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and their Closely Associated Persons
This notification is made in accordance with the Market Abuse Regulation.
Vesting of Shares under the Long Term Incentive Plan 2021 ("LTIP")
On 25 July 2024, the following Directors and PDMRs received a transfer of Shares from the Company (which it held as treasury shares) for nil consideration on the vesting of awards made under the LTIP in 2021, and subsequently sold Shares in order to cover tax and national insurance liabilities:
| Director / PDMR (date of award) | Number of conditional shares awarded | Number of shares released to PDMR*
| Number of shares sold to cover tax liability | Price at which shares sold | Net number of shares acquired |
| O Garfield Director (14.07.21) | 55,461 | 62,308 | 29,388 | 2499.7949p | 32,920 |
| H Miles Director (14.07.21) | 15,815 | 17,765 | 8,379 | 2499.7949p | 9,386 |
| S Anderson PDMR (14.07.21) | 6,131 | 6,885 | 3,248 | 2499.7949p | 3,637 |
| S Cawley PDMR (14.07.21) | 1,899 | 2,130 | 1,005 | 2499.7949p | 1,125 |
| J Jesic PDMR (14.07.21) | 9,814 | 11,024 | 5,200 | 2499.7949p | 5,824 |
| N Morrison PDMR (14.07.21) | 7,513 | 8,438 | 3,980 | 2499.7949p | 4,458 |
| R Stear PDMR (14.07.21) | 5,485 | 6,159 | 2,905 | 2499.7949p | 3,254 |
\* The number of shares released includes additional shares calculated to reflect dividends declared during the period from grant until vesting, in accordance with the LTIP rules.
The 2021 LTIP award made under the 2021 Remuneration Policy included a stretch award comparative element to Return on Regulatory Equity ('RoRE'), measured by Upper Quartile ('UQ') comparison against other Water and Sewerage Companies ('WaSCs'). As all WaSCs have now published their Annual Performance Reports, it has been determined that Severn Trent's three-year average RoRE during the performance period was UQ, meaning awards vested in full at 100%.
Notifications set out below, made in accordance with the requirements of the UK Market Abuse Regulation, give further detail.
For further information please contact:
Rachel Martin, Head of Investor Relations
+44 (0) 782 462 4011
The attached notifications, made in accordance with the requirements of the UK Market Abuse Regulation, give further details.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
| a) | Name | Olivia Garfield | ||||||||||||||||||||
| 2 | Reason for the notification | |||||||||||||||||||||
| a) | Position/status | Director | ||||||||||||||||||||
| b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
| a) | Name | Severn Trent Plc | ||||||||||||||||||||
| b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
| 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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
| b) | Nature of the transaction | Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2021 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership. | ||||||||||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 62,308 / Price GBP Nil Tax/NI Sale: Volume 29,388 / Price GBP £24.997949 | ||||||||||||||||||||
| e) | Date of the transaction | 2024-07-25 | ||||||||||||||||||||
| f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
| a) | Name | Helen Miles | ||||||||||||||||||||
| 2 | Reason for the notification | |||||||||||||||||||||
| a) | Position/status | Director | ||||||||||||||||||||
| b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
| a) | Name | Severn Trent Plc | ||||||||||||||||||||
| b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
| 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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
| b) | Nature of the transaction | Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2021 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership. | ||||||||||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 17,765 / Price GBP Nil Tax/NI Sale: Volume 8,379 / Price GBP £24.997949 | ||||||||||||||||||||
| e) | Date of the transaction | 2024-07-25 | ||||||||||||||||||||
| f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
| a) | Name | Shane Anderson | ||||||||||||||||||||
| 2 | Reason for the notification | |||||||||||||||||||||
| a) | Position/status | PDMR | ||||||||||||||||||||
| b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
| a) | Name | Severn Trent Plc | ||||||||||||||||||||
| b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
| 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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
| b) | Nature of the transaction | Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2021 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership. | ||||||||||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 6,885 / Price GBP Nil Tax/NI Sale: Volume 3,248 / Price GBP £24.997949 | ||||||||||||||||||||
| e) | Date of the transaction | 2024-07-25 | ||||||||||||||||||||
| f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
| a) | Name | Stephanie Cawley | ||||||||||||||||||||
| 2 | Reason for the notification | |||||||||||||||||||||
| a) | Position/status | PDMR | ||||||||||||||||||||
| b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
| a) | Name | Severn Trent Plc | ||||||||||||||||||||
| b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
| 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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
| b) | Nature of the transaction | Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2021 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership. | ||||||||||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 2,130 / Price GBP Nil Tax/NI Sale: Volume 1,005 / Price GBP £24.997949 | ||||||||||||||||||||
| e) | Date of the transaction | 2024-07-25 | ||||||||||||||||||||
| f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
| a) | Name | James Jesic | ||||||||||||||||||||
| 2 | Reason for the notification | |||||||||||||||||||||
| a) | Position/status | PDMR | ||||||||||||||||||||
| b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
| a) | Name | Severn Trent Plc | ||||||||||||||||||||
| b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
| 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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
| b) | Nature of the transaction | Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2021 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership. | ||||||||||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 11,024 / Price GBP Nil Tax/NI Sale: Volume 5,200 / Price GBP £24.997949 | ||||||||||||||||||||
| e) | Date of the transaction | 2024-07-25 | ||||||||||||||||||||
| f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
| a) | Name | Neil Morrison | ||||||||||||||||||||
| 2 | Reason for the notification | |||||||||||||||||||||
| a) | Position/status | PDMR | ||||||||||||||||||||
| b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
| a) | Name | Severn Trent Plc | ||||||||||||||||||||
| b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
| 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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
| b) | Nature of the transaction | Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2021 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership. | ||||||||||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 8,438 / Price GBP Nil Tax/NI Sale: Volume 3,980 / Price GBP £24.997949 | ||||||||||||||||||||
| e) | Date of the transaction | 2024-07-25 | ||||||||||||||||||||
| f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
| a) | Name | Robert Stear | ||||||||||||||||||||
| 2 | Reason for the notification | |||||||||||||||||||||
| a) | Position/status | PDMR | ||||||||||||||||||||
| b) | Initial notification /Amendment | Initial Notification | ||||||||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||||||
| a) | Name | Severn Trent Plc | ||||||||||||||||||||
| b) | LEI | 213800RPBXRETY4A4C59 | ||||||||||||||||||||
| 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 97 17/19 pence each in Severn Trent Plc Identification code for Severn Trent Plc shares: GB00B1FH8J72 | ||||||||||||||||||||
| b) | Nature of the transaction | Acquisition of shares on the vesting of a conditional award granted under the LTIP in 2021 and sale of shares to cover tax and national insurance liabilities. Balance shares transferred to nominee CREST account with no change in beneficial ownership. | ||||||||||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price | Acquisition: Volume 6,159 / Price GBP Nil Tax/NI Sale: Volume 2,905 / Price GBP £24.997949 | ||||||||||||||||||||
| e) | Date of the transaction | 2024-07-25 | ||||||||||||||||||||
| f) | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||||||||||||||||||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.