Ferguson PLC Announces Director/PDMR Shareholding
On June 17, 2021, Ferguson PLC granted conditional share awards to Chief Marketing Officer Victoria Morrissey under two plans: the Ferguson Group Performance Ordinary Share Plan 2019 and the Ferguson Group Ordinary Share Plan 2019. The awards include 1,345 shares vesting on April 12, 2022, and 1,868 shares vesting on April 12, 2023 under the Performance Plan, with performance conditions based on US trading profit growth. Additionally, 572 shares and 1,964 shares will vest under the Ordinary Plan without performance conditions, also on the same dates.
- Conditional share awards align management interests with company performance.
- Vesting conditions tied to US trading profit growth could incentivize better performance.
- None.
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF 10p EACH IN THE COMPANY ('Shares')
WOKINGHAM, UK / ACCESSWIRE / June 18, 2021 / On June 17, 2021 the Company granted the following awards to Victoria Morrissey, Chief Marketing Officer and a PDMR, under the following plans:
Ferguson Group Performance Ordinary Share Plan 2019 ('POSP')
Two awards were made under the POSP as set out in the table below:
| PDMR | Award of conditional Shares | Vesting date |
| V Morrissey | 1,345 | April 12, 2022 |
| V Morrissey | 1,868 | April 12, 2023 |
The awards were granted as conditional share awards. No consideration is payable at allocation or on vesting of all or part of the awards. These awards will vest upon, normally, continued employment and the achievement of US trading profit growth performance conditions tested over the relevant three-year performance period. Subject to, normally, continued employment and the meeting of performance conditions the awards will vest on the dates detailed in the table above.
Ferguson Group Ordinary Share Plan 2019 ('OSP')
Two awards were made under the OSP as set out in the table below:
| PDMR | Award of conditional Shares | Vesting date |
| V Morrissey | 572 | April 12, 2022 |
| V Morrissey | 1,964 | April 12, 2023 |
The awards were granted as conditional share awards. No consideration is payable at allocation or on vesting of all or part of the awards. The awards have no performance conditions and will normally vest, only subject to continued employment with the Company, on the dates detailed in the table above.
The attached notifications, which have been made in accordance with the requirements of the EU Market Abuse Regulation (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018), provide further detail.
POSP Awards
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Victoria Morrissey | |
2 | Reason for the notification | ||
a) | Position/status | Chief Marketing Officer | |
b) | Initial/Amendment notification | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Ferguson plc | |
b) | LEI | 213800DU1LGY3R2S2X42 | |
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 10p each
| |
b) | Nature of the transaction | The grant of conditional shares under the Ferguson Group Performance Ordinary Share Plan 2019 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
1,345 | |||
USD - United States Dollar | |||
d) | Aggregated information - Aggregated volume - Price | Not applicable | |
e) | Date of the transaction | 2021-06-17; UTC time | |
f) | Place of the transaction | Outside a Trading Venue | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Victoria Morrissey | |
2 | Reason for the notification | ||
a) | Position/status | Chief Marketing Officer | |
b) | Initial/Amendment notification | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Ferguson plc | |
b) | LEI | 213800DU1LGY3R2S2X42 | |
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 10p each ISIN: JE00BJVNSS43 | |
b) | Nature of the transaction | The grant of conditional shares under the Ferguson Group Performance Ordinary Share Plan 2019 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
1,868 | |||
USD - United States Dollar | |||
d) | Aggregated information - Aggregated volume - Price | Not applicable | |
e) | Date of the transaction | 2021-06-17; UTC time | |
f) | Place of the transaction | Outside a Trading Venue | |
OSP Awards
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Victoria Morrissey | |
2 | Reason for the notification | ||
a) | Position/status | Chief Marketing Officer | |
b) | Initial/Amendment notification | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Ferguson plc | |
b) | LEI | 213800DU1LGY3R2S2X42 | |
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 10p each ISIN: JE00BJVNSS43 | |
b) | Nature of the transaction | The grant of conditional shares under the Ferguson Group Ordinary Share Plan 2019 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
572 | |||
USD - United States Dollar | |||
d) | Aggregated information - Aggregated volume - Price | Not applicable | |
e) | Date of the transaction | 2021-06-17; UTC time | |
f) | Place of the transaction | Outside a Trading Venue | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Victoria Morrissey | |
2 | Reason for the notification | ||
a) | Position/status | Chief Marketing Officer | |
b) | Initial/Amendment notification | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Ferguson plc | |
b) | LEI | 213800DU1LGY3R2S2X42 | |
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 10p each ISIN: JE00BJVNSS43 | |
b) | Nature of the transaction | The grant of conditional shares under the Ferguson Group Ordinary Share Plan 2019 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
1,964 | |||
USD - United States Dollar | |||
d) | Aggregated information - Aggregated volume - Price | Not applicable | |
e) | Date of the transaction | 2021-06-17; UTC time | |
f) | Place of the transaction | Outside a Trading Venue | |
Enquiries:
Graham Middlemiss, Group Company Secretary
(00 44 118 927 3800)
June 18, 2021
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SOURCE: Ferguson PLC
View source version on accesswire.com:
https://www.accesswire.com/652233/Ferguson-PLC-Announces-DirectorPDMR-Shareholding
FAQ
What share awards were granted to Victoria Morrissey on June 17, 2021?
When do the conditional share awards for Victoria Morrissey vest?
What are the performance conditions for the awarded shares?
What is the significance of the share awards for Ferguson PLC investors?
What are the details of the share awards granted under the Ferguson Group Ordinary Share Plan?
