Ferguson PLC Announces Director/PDMR Shareholding
Ferguson PLC announced on March 16, 2023, that James Metcalf, a Non-Executive Director, has been awarded 232 restricted stock units under the Ferguson Non-Employee Director Incentive Plan 2022. The award, granted without payment or performance conditions, will vest on October 2, 2023, contingent upon continued service. This information is disclosed under the EU Market Abuse Regulation. The restricted stock units are part of a broader strategy to align the interests of directors with those of shareholders, but the total impact on shareholder equity and company performance remains to be evaluated.
- James Metcalf awarded 232 restricted stock units.
- Award aligns directors' interests with shareholders.
- Award has no performance conditions, which may raise concerns about director accountability.
FERGUSON PLC ("Company")
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs") IN ORDINARY SHARES OF 10p EACH IN THE COMPANY ("Shares")
WOKINGHAM, UK / ACCESSWIRE / March 17, 2023 / On March 16, 2023 the Company granted the following award under the Ferguson Non-Employee Director Incentive Plan 2022.
| Non-Executive Director | Award | |
| James Metcalf | 232 |
The award was granted as restricted stock units. No consideration is payable at allocation or on vesting. The award has no performance conditions and will normally vest, only subject to continued service to the Company, on October 2, 2023.
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.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | James Metcalf | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director | ||||
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 | Ordinary Shares of 10p each | ||||
b) | Nature of the transaction | The grant of restricted stock units under the Ferguson Non-Employee Director Incentive Plan 2022 | ||||
c) | Price(s) and volume(s) |
USD - US Dollar | ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable | ||||
e) | Date of the transaction | 2023-03-16; UTC time | ||||
f) | Place of the transaction | Outside a Trading Venue | ||||
Enquiries:
Kate McCormick, Company Secretary
Tel: +44 (0) 118 927 3827
March 17, 2023
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Ferguson PLC
View source version on accesswire.com:
https://www.accesswire.com/744339/Ferguson-PLC-Announces-DirectorPDMR-Shareholding
FAQ
What was the recent award granted to Ferguson PLC's James Metcalf?
When will the restricted stock units for James Metcalf vest?
Are there any performance conditions for the awarded stock units?
What is the purpose of the restricted stock units in Ferguson PLC?
