Grant of share options under the Lookers plc Long-Term Incentive Plan
The Board of Directors of Lookers plc (“Lookers” or the “Company”) announces that, following approval by the Company’s Remuneration Committee, on 25 January 2022 the Company granted nil cost share options pursuant to the rules of the Lookers Long-Term Incentive Plan over ordinary shares of £0.05 each in the capital of the Company (the “Options”).
The Options comprise:
- Options granted in respect of the 2022 financial year to senior employees, which are exercisable upon the Committee determining vesting following the end of the performance period subject to meeting stretching Absolute Total Shareholder Return and Underlying Earnings Per Share performance targets over a three financial year period to 31 December 2024; and
- an Option granted to Oliver Laird following his appointment as Chief Financial Officer on 15 November 2021, which is exercisable three years from the date of grant, subject to meeting stretching Absolute Total Shareholder Return and Underlying Earnings Per Share performance targets over a three financial year period to 31 December 2023. This option has the same performance conditions as the awards granted to Mark Raban and Duncan McPhee in August 2021. The award size is 66% of salary to reflect Oliver’s service as a proportion of the total performance period.
Details of the options granted to PDMRs are as follows:
|
PDMR |
Position |
Award |
Number of shares subject to Option |
|
Mark Raban |
Chief Executive Officer |
FY2022 award |
991,189 |
|
Oliver Laird |
Chief Financial Officer |
FY2022 award |
411,160 |
|
Duncan McPhee |
Chief Operating Officer |
FY2022 award |
411,160 |
|
Oliver Laird |
Chief Financial Officer |
Recruitment award |
271,365 |
The Options are subject to malus and clawback in line with the Company’s Directors’ Remuneration Policy. A two year holding period is applicable following vesting.
In accordance with Article 19 of the UK Market Abuse Regulation, detailed information about the grant of the Options to PDMRs is attached to this announcement.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|
|
a) |
Name |
Mark Raban |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Executive Officer |
|
b) |
Initial notification / amendment |
Initial Notification |
|
3. |
Details of the issuer or emission allowance market participant |
|
|
a) |
Name |
Lookers plc |
|
b) |
LEI |
213800TSB8PJEACDAV33 |
|
4. |
Details of the transaction(s): |
|
|
a) |
Description of the financial instrument Identification code |
Nil cost option over ordinary shares of 5 pence GB00B17MMZ46 |
|
b) |
Nature of the transaction |
Grant of option |
|
c) |
Price(s) and volume(s) |
Volume: 991,189 Price: nil cost option |
|
d) |
Aggregated information - Aggregated volume - Price |
N/A – single transaction |
|
e) |
Date of the transaction |
25 January 2022 |
|
f) |
Place of the transaction |
London Stock Exchange |
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|
|
a) |
Name |
Duncan McPhee |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Operating Officer |
|
b) |
Initial notification / amendment |
Initial Notification |
|
3. |
Details of the issuer or emission allowance market participant |
|
|
a) |
Name |
Lookers plc |
|
b) |
LEI |
213800TSB8PJEACDAV33 |
|
4. |
Details of the transaction(s): |
|
|
a) |
Description of the financial instrument Identification code |
Nil cost option over ordinary shares of 5 pence GB00B17MMZ46 |
|
b) |
Nature of the transaction |
Grant of option |
|
c) |
Price(s) and volume(s) |
Volume: 411,160 Price: nil cost option |
|
d) |
Aggregated information - Aggregated volume - Price |
N/A – single transaction |
|
e) |
Date of the transaction |
25 January 2022 |
|
f) |
Place of the transaction |
London Stock Exchange |
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|
|
a) |
Name |
Oliver Laird |
|
2. |
Reason for the notification |
|
|
a) |
Position / status |
Chief Financial Officer |
|
b) |
Initial notification / amendment |
Initial Notification |
|
3. |
Details of the issuer or emission allowance market participant |
|
|
a) |
Name |
Lookers plc |
|
b) |
LEI |
213800TSB8PJEACDAV33 |
|
4. |
Details of the transaction(s): |
|
|
a) |
Description of the financial instrument Identification code |
Nil cost option over ordinary shares of 5 pence GB00B17MMZ46 |
|
b) |
Nature of the transaction |
Grant of options |
|
c) |
Price(s) and volume(s) |
Volume: 411,160 and Volume: 271,365 Price: nil cost option |
|
d) |
Aggregated information - Aggregated volume - Price |
N/A – single transaction |
|
e) |
Date of the transaction |
25 January 2022 |
|
f) |
Place of the transaction |
London Stock Exchange |
Enquiries:
MHP Communications
Tim Rowntree / Simon Hockridge 020 3128 8742
The Company is registered in England at Lookers House, 3 Etchells Road, West Timperley, Altrincham WA14 5XS. Company registration number 00111876. LEI number 213800TSB8PJEACDAV33