RNS Number : 7676A
Smith & Nephew Plc
16 August 2024
 

SMITH & NEPHEW PLC

 

16 August 2024

 

NOTIFICATION AND PUBLIC DISCLOSURE IN ACCORDANCE WITH THE REQUIREMENTS OF THE MARKET ABUSE REGULATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMR") AND PERSONS CLOSELY ASSOCIATED WITH THEM.

In accordance with the Directors' Remuneration Policy 2024 (the "Policy"), the Company has granted the following awards to Deepak Nath, CEO:

·      An increase in the number of shares awarded under the Performance Share Programme ("PSP") 2024 of 27,520 USD 0.20 ordinary shares on the same terms and conditions, including performance conditions, as the PSP award granted on 8 March 2024.

 

·      An RSP award of 131,517 USD 0.20 ordinary shares which will normally vest in three equal tranches over a three-year period, contingent on a reasonable judgement underpin being met as determined by the Remuneration Committee.

Further details of these awards are set out below.

 

PSP 2024 - 2026 awards: In accordance with the Policy, the Company has made a  grant of an increased level of Performance Share Plan awards shown in the table below which will vest on 8 March 2027, subject to the achievement of the performance conditions which are measured over the period 1 January 2024 to 31 December 2026. Participants will receive an additional number of shares equivalent to the amount of dividend payable per vested share during the relevant performance period.

 

Reason for the notification

Initial notification /Amendment

Initial notification

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

Name

Smith & Nephew plc

LEI

213800ZTMDN8S67S1H61

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

Description of the financial instrument, type of instrument

 

Smith & Nephew plc Ordinary Shares of USD 0.20 each

 

Identification code

ISIN: GB0009223206

Nature of the transaction

Performance Share Awards granted on 16 August 2024 under the Smith & Nephew Global Share Plan 2020.

Date of Transaction

2024 - 08 - 16

Place of Transaction

Grant took place outside a trading venue

 

Name

(Position)

Status

Price (s)

Volume(s)*

Aggregated information

Deepak Nath

(Chief Executive Officer)

Director

£10.875

27,520

N/A Single Transaction

* The number of shares assuming a maximum vesting is shown.

 

Restricted Share Plan 2024 awards: In accordance with the Policy, the Company has made a grant of the awards shown in the table below which will vest in three equal tranches on the first, second and third anniversary of the award, contingent on a reasonable judgement underpin being met as determined by the Remuneration Committee. Participants will receive an additional number of shares equivalent to the amount of dividend payable per vested share during the relevant vesting period.

 

Reason for the notification

Initial notification /Amendment

Initial notification

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

Name

Smith & Nephew plc

LEI

213800ZTMDN8S67S1H61

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

Description of the financial instrument, type of instrument

 

Smith & Nephew plc Ordinary Shares of USD 0.20 each

 

Identification code

ISIN: GB0009223206

Nature of the transaction

Award granted on 16 August 2024 under the Smith & Nephew plc Restricted Share Plan 2024.

Date of Transaction

2024 - 08 - 16

Place of Transaction

Grant took place outside a trading venue

 

 

Name

(Position)

Status

Price (s)*

Volume(s)

Aggregated information

Deepak Nath

(Chief Executive Officer)

Director

£11.7010

131,517

N/A Single Transaction

* The award share price has been determined using the average closing share price over the period 1 August to 14 August 2024.

 

 

Helen Barraclough

Company Secretary

Smith & Nephew plc

Tel: +44 (0)1923 477100

 

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