19 June 2024
Persimmon Plc (the "Company")
Director/PDMR Shareholding
Andrew Duxbury commenced his role as Chief Financial Officer of the Company on 17 June 2024.
On 18 June 2024, Andrew's wife Rachel Duxbury purchased 3,462 shares in the Company at a price of £14.295 per share.
Furthermore, as reported in the Company's Directors' Remuneration Report for the year ended 31 December 2023, in line with usual practice the Remuneration Committee agreed that in recognition of Andrew's forfeiture of remuneration on leaving his former employer, he would be granted buy-out awards. These have been made on the basis that any compensation due should not result in an outcome where Andrew receives more than would have been due had he remained in post at Galliford Try. Information in relation to the principles applied in agreeing the buy-out awards is included in that Directors' Remuneration Report. Details of the buy-out awards granted in shares on 18 June 2024 are summarised below.
| Forfeited remuneration | Number of Persimmon shares subject to the buy-out award | Vesting date of buy-out award |
| 2021 Deferred Bonus | 12,353 | 23 September 2024 |
| 2022 Deferred Bonus | 13,909 | 28 September 2025 |
| 2023 Deferred Bonus | 3,998 | 27 September 2026 |
| 2021 LTIP | 55,295 | 23 September 2024 (followed by a two year holding period)* |
| 2022 LTIP | 42,111 | 23 September 2025 (followed by a two year holding period)* |
| 2023 LTIP | 14,743 | March 2026 (followed by a two and a half year holding period)** |
*The vesting of these awards is subject to the satisfaction of the performance conditions applying to the forfeited awards.
**The vesting of this award is subject to the satisfaction of the performance conditions applying to the Persimmon Plc PSP award granted in 2023, details of which are included in the Company's Directors' Remuneration Report for the year ended 31 December 2023.
In addition, on 18 June 2024 an award was granted to Andrew over 73,376 shares, under the Persimmon Plc 2017 Performance Share Plan. The three year performance period will run from 1 January 2024 to 31 December 2026 and there is a further two year holding period before the shares can be released. The award is subject to the same performance conditions as apply to the PSP award granted to Dean Finch on 25 March 2024 and details of which are included in the Company's 2023 Directors' Remuneration Report.
The below notification, made in accordance with the requirements of article 19.3 of the UK Market Abuse Regulation, gives further details:
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Rachel Duxbury | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Closely associated person of Andrew Duxbury, Chief Financial Officer | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Persimmon Plc | |||
| b)
| LEI
| 213800XI72Y57UWN6F31 | |||
| 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 | |||
| | | ||||
| Identification code | GB0006825383 | ||||
| | | ||||
| b)
| Nature of the transaction
| Purchase of shares | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | £14.295 | 3,462 | | |
| | |
| | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A Single transaction | ||||
| | | ||||
| - Price | N/A Single transaction | ||||
| | | ||||
| e)
| Date of the transaction
| 18/06/2024 | |||
| f)
| Place of the transaction
| London Stock Exchange (XLON), Main Market | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Andrew Duxbury | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Financial Officer | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Persimmon Plc | |||
| b)
| LEI
| 213800XI72Y57UWN6F31 | |||
| 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 | |||
| | | ||||
| Identification code | GB0006825383 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of award made under the 2017 Performance Share Plan subject to performance criteria | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil | 73,376 | | |
| | |
| | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A Single transaction | ||||
| | | ||||
| - Price | N/A Single transaction | ||||
| | | ||||
| e)
| Date of the transaction
| 18/06/2024 | |||
| f) | Place of the transaction | Outside a trading venue | |||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||||||||||||||
| a) | Name | Andrew Duxbury | |||||||||||||||||||||
| 2 | Reason for the notification | ||||||||||||||||||||||
| a) | Position/status | Chief Financial Officer | |||||||||||||||||||||
| b) | Initial notification/ Amendment | Initial notification | |||||||||||||||||||||
| 3 | Details of the issuer | ||||||||||||||||||||||
| a) | Name | Persimmon Plc | |||||||||||||||||||||
| b) | LEI code | 213800XI72Y57UWN6F31 | |||||||||||||||||||||
| 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 | |||||||||||||||||||||
| | Identification code | GB0006825383 | |||||||||||||||||||||
| b) | Nature of the transaction | Grant of awards over Persimmon shares in respect of remuneration forfeited on leaving previous employer. | |||||||||||||||||||||
| c) | Price(s) and volume(s) |
| |||||||||||||||||||||
| d) | Aggregated information - Aggregated volume - Price |
142,409 Nil | |||||||||||||||||||||
| e) | Date of the transaction | 18 June 2024 | |||||||||||||||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||||||||||||||
Tracy Davison
Company Secretary
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