Director/PDMR Shareholding

Rhea-AI Summary

Shell plc announces that PDMRs have received shares as part of their annual bonus, with 50% in cash and 50% in shares subject to a three-year holding period. Details of the transactions include share type, number of shares awarded, and purchase price per share.

Insights

Financial Analyst

The disclosed transactions of Shell plc's senior executives receiving shares as part of their annual bonus structure is a significant indicator of the company's compensation strategy, which aligns executive interests with those of shareholders. A compensation mix that includes equity incentivizes PDMRs to focus on long-term value creation. The mandatory three-year holding period further emphasizes this alignment.

From an investor's perspective, such disclosures provide insights into the company's governance practices and can influence investor confidence. The share price at the time of the award, GBP 24.94 and EUR 29.54 to 29.63, offers a reference point for evaluating the PDMRs' potential gains from share price movements. The impact on the stock market is generally limited, as these transactions are planned and disclosed, minimizing the risk of market surprises.

Corporate Governance Expert

The notification of Shell plc's managerial transactions is indicative of robust corporate governance, complying with EU and UK market abuse regulations. The level of transparency in such notifications is critical for maintaining market integrity. It reveals the company's commitment to legal and ethical standards, which can be a determinant in institutional investment decisions.

Furthermore, the structure of the compensation package, with a significant portion in shares subject to a holding period, is designed to mitigate the risk of short-termism. By binding the PDMRs' compensation to the company's performance over a multi-year horizon, it potentially reduces the incentive for executives to engage in strategies that may boost short-term stock performance at the expense of long-term stability and growth.

Market Research Analyst

Analyzing the broader implications of such transactions within the energy sector, it's evident that the practice of awarding equity as part of compensation is commonplace. However, the specifics of the holding period and the proportion of cash versus shares can vary significantly. These details can influence the company's attractiveness as an employer and its standing in the competitive landscape of talent acquisition.

Comparatively, the share awards at Shell plc highlight a commitment to long-term planning which could be appealing to stakeholders looking for sustainable investment opportunities. It also suggests a level of stability and confidence in the company's future performance, as executives are likely to only agree to such terms if they believe in the long-term prospects of the business.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES IN ACCORDANCE WITH THE REQUIREMENTS OF THE EU AND UK MARKET ABUSE REGIMES
February 27, 2024
Shell plc announces that each of the following Persons Discharging Managerial Responsibilities (“PDMRs”) have received the number of shares as set out below. 50% of the PDMR’s annual bonus is delivered in cash and 50% is delivered in shares. Shares are subject to a three-year holding period, which continues to apply after PDMRs leave employment.
PDMR	Date Acquired	Share Type	Number of shares awarded	Purchase price per Share
Wael Sawan	26 February 2024	SHEL (LSE)	28,796	GBP 24.94
Sinead Gorman	26 February 2024	SHEL (LSE)	18,276	GBP 24.94
Philippa Bounds	26 February 2024	SHEL (LSE)	4,134	GBP 24.94
Robertus Mooldijk	23 February 2024	SHELL (AMS)	4,836	EUR 29.63
Huibert Vigeveno	26 February 2024	SHELL (AMS)	12,455	EUR 29.54
Zoe Yujnovich	26 February 2024	SHELL (AMS)	16,414	EUR 29.54
The Notification of Dealing Form for each PDMR can be found below.
This notification is made in accordance with Article 19 of the EU Market Abuse Regulation.
Anthony Clarke
Deputy Company Secretary
ENQUIRIES
Shell Media Relations
International, UK, European Press: +44 20 7934 5550
LEI number of Shell plc: 21380068P1DRHMJ8KU70
Classification: Additional regulated information required to be disclosed under the laws of a Member State.

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Wael
Last Name(s)	Sawan
2. Reason for the notification
Position/status	Chief Executive Officer
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Delivery of 50% of bonus in shares
Currency	GBP
Price	24.94
Volume	28,796
Total	718,172.24
Aggregated information
Volume	28,796
Price	24.94
Total	718,172.24
Date of transaction	26/02/2024
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Sinead
Last Name(s)	Gorman
2. Reason for the notification
Position/status	Chief Financial Officer
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Delivery of 50% of bonus in shares
Currency	GBP
Price	24.94
Volume	18,276
Total	455,803.44
Aggregated information
Volume	18,276
Price	24.94
Total	455,803.44
Date of transaction	26/02/2024
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Philippa
Last Name(s)	Bounds
2. Reason for the notification
Position/status	Legal Director
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Delivery of 50% of bonus in shares
Currency	GBP
Price	24.94
Volume	4,134
Total	103,101.96
Aggregated information
Volume	4,134
Price	24.94
Total	103,101.96
Date of transaction	26/02/2024
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Robertus
Last Name(s)	Mooldijk
2. Reason for the notification
Position/status	Projects & Technology Director
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Delivery of 50% of bonus in shares
Currency	EUR
Price	29.63
Volume	4,836
Total	143,290.68
Aggregated information
Volume	4,836
Price	29.63
Total	143,290.68
Date of transaction	23/02/2024
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Huibert
Last Name(s)	Vigeveno
2. Reason for the notification
Position/status	Downstream, Renewables & Energy Solutions Director
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Delivery of 50% of bonus in shares
Currency	EUR
Price	29.54
Volume	12,455
Total	367,920.70
Aggregated information
Volume	12,455
Price	29.54
Total	367,920.70
Date of transaction	26/02/2024
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Zoe
Last Name(s)	Yujnovich
2. Reason for the notification
Position/status	Integrated Gas & Upstream Director
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Delivery of 50% of bonus in shares
Currency	EUR
Price	29.54
Volume	16,414
Total	484,869.56
Aggregated information
Volume	16,414
Price	29.54
Total	484,869.56
Date of transaction	26/02/2024
Place of transaction	Outside a trading venue

FAQ

What is the breakdown of the annual bonus for PDMRs at Shell plc?

PDMRs at Shell plc receive 50% of their annual bonus in cash and 50% in shares, subject to a three-year holding period.

What are the details of the shares awarded to Wael Sawan at Shell plc?

Wael Sawan received 28,796 SHEL (LSE) shares at a purchase price of GBP 24.94 on February 26, 2024.

How many shares were awarded to Sinead Gorman at Shell plc?

Sinead Gorman received 18,276 SHEL (LSE) shares at a purchase price of GBP 24.94 on February 26, 2024.

What is the total value of the shares awarded to Philippa Bounds at Shell plc?

Philippa Bounds received 4,134 SHEL (LSE) shares at a purchase price of GBP 24.94, totaling GBP 103,101.96 on February 26, 2024.

What type of shares were awarded to Robertus Mooldijk at Shell plc?

Robertus Mooldijk received 4,836 SHELL (AMS) shares at a purchase price of EUR 29.63 on February 23, 2024.

How many shares were awarded to Huibert Vigeveno at Shell plc?

Huibert Vigeveno received 12,455 SHELL (AMS) shares at a purchase price of EUR 29.54 on February 26, 2024.

What is the total value of the shares awarded to Zoe Yujnovich at Shell plc?

Zoe Yujnovich received 16,414 SHELL (AMS) shares at a purchase price of EUR 29.54, totaling EUR 484,869.56 on February 26, 2024.