Ricardo PLC
Director / PDMR Shareholdings
21 November 2024
London
1. LTIP Cycle 18 Awards - ESG measure
As reported in the 2024 Annual Report and Accounts, the Remuneration Committee (the "Committee") was in the process of reviewing the approach to the ESG measure for the awards to be granted under the Ricardo plc 2020 Long Term Incentive Plan at the time of publication. The ESG measure and target for the LTIP cycle 18 awards granted on 28 October 2024 have now been determined. This measure, which will be used to determine whether 10% of each LTIP Award will vest (the "ESG Portion"), is based on the Company's absolute total validated CO2e emissions (Scopes 1+2+3). The shares will vest in full where Ricardo's validated carbon dioxide emissions are equal to or lower than 110,000 metric tons by the conclusion of the year ending 30 June 2027.
The Committee will keep the operation of the above ESG measure under review and may make adjustments to ensure that this remains appropriate.
Full details will be included in the Annual Report and Accounts for the year ending 30 June 2025.
2. 2021 Deferred Bonus Plan - vesting of awards granted in 2023 with a 1-year deferral period
Ricardo PLC (the "Company") announces that, on 18 November 2024, a total of 6,258 ordinary shares of 25 pence each ("Shares") vested in favour of Persons Discharging Managerial Responsibilities ("PDMRs") under the terms of the Company's 2021 Deferred Bonus Plan ("DBP"). These awards (which included dividend entitlements) were granted on 16 November 2023. They vested following the end of a one-year Deferral Period and were not subject to performance conditions. Further details of this vesting are provided below.
| Name | Role | No. of Shares that vested on 18 November 2024 |
| Mike Bell | PDMR | 2,548 |
| Chester Gryczan | PDMR | 2,165 |
| Natasha Perfect | PDMR | 228 |
| Rachel White | PDMR | 637 |
| Clive Wotton | PDMR | 680 |
3. Realisation of value of shares
Immediately on vesting of the awards referred to in section 1 above, the PDMRs realised value in respect of the following Shares at a price of £4.30.
| Name | Role | No. of Shares realised for value on 18 November 2024 |
| Mike Bell | PMDR | 2,548 |
| Chester Gryczan | PDMR | 2,165 |
| Natasha Perfect | PDMR | 108 |
| Rachel White | PDMR | 637 |
| Clive Wotton | PDMR | 680 |
4. Net current total holdings of Shares
Following the above notifications, the total holdings of Shares of the relevant PDMRs are as follows:
| Name | Role | Total holding following this notification | Approximate % of Company's issued share capital |
| Mike Bell | PMDR | 6,352 | 0.010% |
| Chester Gryczan | PMDR | 0 | 0.000% |
| Natasha Perfect | PMDR | 4,055 | 0.007% |
| Rachel White | PMDR | 2,099 | 0.003% |
| Clive Wotton | PMDR | 0 | 0.000% |
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Mike Bell | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR: Chief Strategy and Digital Officer | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ricardo plc | ||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Vesting of award granted on 16 November 2023 pursuant to the terms of the Ricardo plc 2021 Deferred Bonus Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Shares realised for value | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Chester Gryczan | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR: President - Ricardo Defense Systems | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ricardo plc | ||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Vesting of award granted on 16 November 2023 pursuant to the terms of the Ricardo plc 2021 Deferred Bonus Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable
| ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Shares realised for value | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Natasha Perfect | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR: Group Marketing and Communications Director | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ricardo plc | ||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Vesting of award granted on 16 November 2023 pursuant to the terms of the Ricardo plc 2021 Deferred Bonus Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable
| ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Shares realised for value | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Rachel White | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR: Global Present - Clean Energy & Environmental Solutions | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ricardo plc | ||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Vesting of award granted on 16 November 2023 pursuant to the terms of the Ricardo plc 2021 Deferred Bonus Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Shares realised for value | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
|
|
| |||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Clive Wotton | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR: Group Director, Sustainability, Quality and Risk | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Ricardo plc | ||||
| b) | LEI | 213800ZNYAY35F4XB814 | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Vesting of award granted on 16 November 2023 pursuant to the terms of the Ricardo plc 2021 Deferred Bonus Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 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 25p each ("Shares") | ||||
| Identification code | GB0007370074 | |||||
| b) | Nature of the transaction | Shares realised for value | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 18 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
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