28th Oct 2022 07:00
28 October 2022
DUNELM GROUP PLC
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS EXERCISING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS
Share incentive awards granted to Nick Wilkinson and Karen Witts
On 27 October 2022 share incentive awards were granted to Nick Wilkinson (Chief Executive) and Karen Witts (Chief Financial Officer) as set out below.
The awards have been made in accordance with the 2020 remuneration policy approved by shareholders on 17 November 2020 (the "2020 Policy").
Long Term Incentive Plan
Awards were granted over ordinary shares of one pence each in Dunelm Group plc, in the form of a nil cost option.
Using the average closing share price over the three days preceding the grant date being 27 October 2022, awards have been granted as follows:
Name | Salary | 200% of salary | Share price used to calculate number of nil cost options | Number of shares in award |
Nick Wilkinson | £582,125 | £1,164,250 | £8.33 | 139,765 |
Karen Witts | £450,000 | £900,000 | £8.33 | 108,043 |
The options may be exercised on or after 27 October 2025, subject to the satisfaction of performance conditions over the three financial periods commencing on 3 July 2022. These performance conditions are detailed in the Company's FY22 Annual Report.
On exercise, Mr Wilkinson and Mrs Witts have each committed to retain all of the shares vesting (after sale to cover tax and national insurance liability on exercise), until 27 October 2027, and at least two thirds of these for the duration of employment. In addition, shareholding requirements apply for the duration of employment and for two years from termination of employment, as set out in the 2020 Policy.
In line with its 2020 Policy, the Remuneration Committee can apply malus or clawback to the award and has discretion to vary formulaic outturns where this does not reflect underlying performance or is inappropriate in the context of unexpected or unforeseen circumstances.
Total interests in shares
Following the transactions set out above, Mr Wilkinson and Karen Witts are beneficially interested in ordinary shares of one pence each in the Company as follows:
Director | Number of ordinary shares |
Nick Wilkinson | 266,409 |
Karen Witts | 24,918 |
Nick Wilkinson and Karen Witts also hold options over the Company's ordinary shares as follows:
Name | Share scheme | Number of shares | Exercise price per share | Exercise dates |
Nick Wilkinson | Long Term Incentive Plan | 152,025* | Nil | Between now and 15 October 2029 |
Nick Wilkinson | Long Term Incentive Plan (subject to performance) | 94,846 | Nil | Between 20 November 2023 and 19 November 2030 |
Nick Wilkinson | Long Term Incentive Plan (subject to performance) | 89,078 | Nil | Between 20 October 2024 and 19 October 2031 |
Nick Wilkinson | 2022-2024 Sharesave | 1,720 | 1,046p | Between 1 January 2025 and 30 June 2025 |
Karen Witts | Long Term Incentive Plan (subject to performance) | 73,979 | Nil | Between 9 June 2025 and 8 June 2032 |
*Includes 17,041 shares by way of special dividend equivalent
For further information please contact:
Dunelm Group plc Dawn Durrant, Company Secretary |
|
MHP Communications |
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Simon Hockridge/Rachel Farrington/Pete Lambie
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DUNELM GROUP PLC
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Nick Wilkinson | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Executive | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Dunelm Group plc | ||||
b)
| LEI
| 213800WCOWEI3T5DUV19 | ||||
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 one pence each
ISINGB00BICQ739
| ||||
b)
| Nature of the transaction
| Grant of conditional nil cost options under the Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
139,765
£Nil
| ||||
e)
| Date of the transaction
| 2022.10.27 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Karen Witts | ||||
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
| Dunelm Group plc | ||||
b)
| LEI
| 213800WCOWEI3T5DUV19 | ||||
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 one pence each
ISINGB00BICQ739
| ||||
b)
| Nature of the transaction
| Grant of conditional nil cost options under the Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
108,043
£Nil
| ||||
e)
| Date of the transaction
| 2022.10.27 | ||||
f)
| Place of the transaction
| London Stock Exchange (XLON) | ||||
Related Shares:
Dunelm