RNS Number : 5812Y
Burberry Group PLC
31 July 2024
 

Burberry Group plc

Director/PDMR Shareholdings

 

 

Grant of awards under the Burberry Group plc Burberry Share Plan 2020 ( the "BSP")

 

Burberry Group plc (the "Company") announces that conditional share awards over Ordinary Shares of 0.05 pence each ("Shares") in the Company were granted on 30 July 2024 (the "Grant Date") to the following Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") in accordance with the rules of the BSP.

 

Executive Directors and PDMRs:

 

 

 

Number of Shares

Joshua Schulman

Chief Executive Officer

212,531

Kate Ferry

Chief Financial Officer

110,353

 

In recognition of recent share price volatility, especially following the announcement on 15 July 2024 of the Company's first quarter trading update, the conditional share awards have been calculated using a share price of 917.51 pence, being the average share price for the 20 business days prior to the announcement on 15 July 2024.

 

The conditional share awards will vest on 30 July 2027, three years following the Grant Date, but will be subject to a two-year holding period so that the minimum time before any sale of shares (except to cover any tax liabilities arising from the award on vesting) is five years. 

 

The awards will be subject to continued employment and performance underpins based on three key areas: Revenue, Group Return on Invested Capital and brand and sustainability strategies. The performance underpins will be tested at the vesting date. If the Company does not meet one or more of the performance underpins over the vesting period then the Remuneration Committee would consider whether it was appropriate to scale back the level of pay-out under the award to reflect this.  For further information please consult our FY 2023/24 Directors' Remuneration Report.

 

31 July 2024

 

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 as it forms part of UK law.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Joshua Schulman

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Burberry Group plc

b)

LEI

213800PE1KEFCNFR1R50

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 0.05 pence each

 

 

GB0031743007

b)

Nature of the transaction

Grant of a conditional share award under the Burberry Group plc Burberry Share Plan 2020

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

£9.1751

 

212,531

 

 

d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

Aggregate Price

Aggregate Volume

Aggregate

Total

£9.1751

212,531

£1,949,993.18

 

e)

Date of the transaction

 2024-07-30

f)

Place of the transaction

Outside a trading venue





 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kate Ferry

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

Burberry Group plc

b)

LEI

213800PE1KEFCNFR1R50

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 0.05 pence each

 

 

GB0031743007

b)

Nature of the transaction

Grant of a conditional share award under the Burberry Group plc Burberry Share Plan 2020

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

£9.1751

 

110,353

 

 

 

d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

Aggregate Price

Aggregate Volume

Aggregate

Total

£9.1751

 

110,353

 

£1,012,499.81

 

e)

Date of the transaction

 2024-07-30

f)

Place of the transaction

Outside a trading venue





 

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