30 August 2024
National Grid plc ('National Grid' or 'Company')
Notification of Transaction of Person Discharging Managerial Responsibilities ('PDMR')
This announcement is made in accordance with Article 19 of the Market Abuse Regulation ('MAR') and relates to the following PDMR acquiring shares following the partial vesting of an award under the Company's Retention Award Plan ('RAP').
This vesting relates to the RAP Award made to Will Serle, PDMR on 1 June 2022. The award was 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. The award is subject to malus and clawback provisions.
The Company also announces a correction to an announcement made on 14 June 2024. On 29 August 2024, the Company was notified that, due to an administration error, it was incorrectly announced that Will Serle, Chief People & Culture Officer, sold 97 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.
The date of notification of these transactions was 29 August 2024.
In accordance with MAR the relevant Financial Conduct Authority modification is set out below.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Will Serle | ||||
| 2 | Reason for the notification | |||||
| a)
| Position/status | Chief People and Culture 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 | Shares acquired following the vesting of the fifth tranche of shares in respect of the 1 June 2022 RAP Award. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price |
| ||||
| e)
| Date of the transaction | 2024.06.26 | ||||
| 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
| Automatic disposal of shares resulting from RAP Award exercise to cover tax liabilities. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price |
| ||||
| e) | Date of the transaction | 2024.06.26 | ||||
| f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Will Serle | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief People and Culture 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
| 2024.06.03 | ||||
| f) | Place of the transaction
| London Stock Exchange (XLON) | ||||
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