QinetiQ Group plc (the "Company")
3 July 2024
Notification and public disclosure of transactions by persons discharging managerial responsibilities or persons closely associated with them
The Company announces that on 1 July 2024, the following share transactions occurred in respect of Steve Wadey, its Group Chief Executive Officer / Director / Person Discharging Managerial Responsibility ("PDMR"):
Bonus Banking Plan
Vesting of notional awards granted in 2020, 2021, 2022 and 2023 under the Bonus Banking Plan ("BBP") as Ordinary Shares of 1 pence each in the Company ("Ordinary Shares") as described in the table below:
| PDMR | Shares vesting | Dividend equivalent shares received | Total balance shares | Shares sold to cover tax liability | Balance of remaining shares |
| Steve Wadey | 322,568 | 6,983 | 329,551 | 155,335 | 174,216 |
This is the last award due to vest under the BBP, a legacy plan which formed part the 2017 Group Incentive Plan, and which has been replaced with the Annual Bonus Plan (approved by Shareholders at the 2023 AGM).
Annual Bonus Plan
The Remuneration Committee have confirmed the award of the Bonus Shares element of the FY24 Annual Bonus Plan ("ABP"), comprising 30% of the value of the FY24 ABP award. As a result, 30% of the FY24 ABP award will vest as Ordinary Shares on 1 July 2026, as described in the table below:
| PDMR | % Determination | Number of Shares | Normal Bonus Share Vesting Date |
| Steve Wadey | 30% | 78,911 | 1 July 2026 |
Long Term Performance Award Plan
A conditional award of Ordinary Shares was granted under the QinetiQ Group plc Long Term Performance Award ("LPA") Plan over the following maximum number of shares:
| PDMR | Number of Shares | Normal Vesting Date |
| Steve Wadey | 387,456 | 1 July 2027 |
The LPA was approved by Shareholders at the 2023 AGM and replaces the Deferred Share Plan ("DSP"), a legacy plan which formed part of the 2017 Group Incentive Plan.
The Notification of Dealing Forms for the above transactions are set out below. These notifications are provided in accordance with the requirements of the UK Market Abuse Regulation.
| 1. | Details of PDMR / person closely associated with them ("PCA") | |
| a) | Name | Steve Wadey |
| 2 | Reasons for the Notification | |
| a) | Position / status | Chief Executive Officer/Director |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a | Name | QinetiQ Group plc ("QinetiQ") |
| b | LEI | 213800S8OBDOZMCMUW34 |
| 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 | QinetiQ Group plc ordinary shares of 1 pence GB00B0WMWD03 |
| b) | Nature of the transaction | Vesting of awards granted in 2020, 2021, 2022 and 2023 under the Bonus Banking Plan (Element A of the 2017 QinetiQ Group plc Incentive Plan) and sale of sufficient shares in order to satisfy Income Tax and National Insurance Contributions required to be withheld on release. |
| c) | Currency | GBP - British Pound |
| d) | Price(s) and volume(s)
| Price(s) Volume(s)
Vesting Nil 329,551
Sale of shares to satisfy income Tax and NICs liability £4.42374 155,335
Transfer of shares Nil 174,216 |
| e) | Aggregated information - Aggregated volume - Price |
Vesting: Price Nil / Volume: 329,551
Tax/NI sale: Price £687,158.55 / Volume 155,335
Transfer: Price Nil / Volume 174,216
|
| f) | Date of the transaction | 01-07-2024 |
| g) | Place of the transaction | London Stock Exchange (XLON) |
| 1. | Details of PDMR / person closely associated with them ("PCA") | |
| a) | Name | Steve Wadey |
| 2 | Reasons for the Notification | |
| a) | Position / status | Chief Executive Officer/Director |
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a | Name | QinetiQ Group plc ("QinetiQ") |
| b | LEI | 213800S8OBDOZMCMUW34 |
| 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 | QinetiQ Group plc ordinary shares of 1 pence GB00B0WMWD03 |
| b) | Nature of the transaction | Determination of the % of Bonus Shares due to vest on 1 July 2026 under the QinetiQ Group plc Annual Bonus Plan. |
| c) | Currency | GBP - British Pound |
| d) | Price(s) and volume(s)
| Price(s) Volume(s)
Determination NIL 78,911
|
| e) | Aggregated information - Aggregated volume - Price |
Single Transaction
|
| f) | Date of the transaction | 01-07-2024 |
| g) | Place of the transaction | Outside a trading venue |
| 1. | Details of PDMR / person closely associated with them ("PCA") | |||||
| a) | Name | Steve Wadey | ||||
| 2 | Reasons for the Notification | |||||
| a) | Position / status | Chief Executive Officer/Director | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a | Name | QinetiQ Group plc ("QinetiQ") | ||||
| b | LEI | 213800S8OBDOZMCMUW34 | ||||
| 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 | QinetiQ Group plc ordinary shares of 1 pence GB00B0WMWD03 | ||||
| b) | Nature of the transaction | Grant of conditional awards over 387,456 Ordinary Shares under the QinetiQ Group plc Long Term Performance Award | ||||
| c) | Currency | GBP - British Pound | ||||
| d) | Price(s) and volume(s)
|
| ||||
| e) | Aggregated information - Aggregated volume - Price |
Single Transaction | ||||
| f) | Date of the transaction | 01-07-2024 | ||||
| g) | Place of the transaction | Outside a trading venue | ||||
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