19th Mar 2025 15:58
19 March 2025
Drax Group plc
("Drax" or "the Company")
Symbol: DRX
Notification of Transactions of Directors,
Persons Discharging Managerial Responsibility or Connected Persons
Vesting of Deferred Share Plan Shares
On 18 March 2025, shares in Drax Group plc were issued to Will Gardiner (CEO) and Andy Skelton (CFO) as set forth in the table below.
The issuance was an automatic vesting on conclusion of a three-year vesting period of awards originally granted on 18 March 2022 under the Drax Group plc Deferred Share Plan (the "DSP"). The shares granted in March 2022 represented the deferred element of the annual bonus for the financial year ended 31 December 2021.
The Company was notified on 19 March 2025 that Will Gardiner and Andy Skelton each sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares at 573.86 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period.
Director/PDMR | Total DSP award vesting1 | Number of shares sold to meet the tax liability | Net shares retained |
Will Gardiner | 50,752 | 23,938 | 26,814 |
Andy Skelton | 28,353 | 13,373 | 14,980 |
Notes:
1. Includes shares in lieu of accrued dividends throughout the holding period.
Vesting of Long-Term Incentive Plan Shares
On 18 March 2025, shares in Drax Group plc were issued to Persons Discharging Managerial Responsibility ("PDMRs") as set forth in the table below.
The issuance was an automatic vesting on conclusion of a three-year vesting period of awards originally granted on 18 March 2022 under the Drax Group plc Long-Term Incentive Plan 2020 (the "LTIP").
The Company was notified on 19 March 2025 that Will Gardiner, Andy Skelton, and Paul Sheffield sold sufficient shares to satisfy their liability to Income Tax and National Insurance Contributions ("Tax Liability") arising on the vesting of shares at 573.86 pence per share. The retained shares for both Will Gardiner and Andy Skelton are subject to a two-year post-vesting holding period.
Director/PDMR | Total LTIP award vesting1 | Number of shares sold to meet the tax liability | Net shares retained | Total number of shares held in the Company (incl. held by spouse) |
Will Gardiner | 192,893 | 90,979 | 101,914 | 1,401,692 |
Andy Skelton | 107,355 | 50,635 | 56,720 | 649,314 |
Paul Sheffield | 45,604 | 21,510 | 24,094 | 72,148 |
Notes:
1. Includes shares in lieu of accrued dividends throughout the vesting period.
Vesting of Long-Term Incentive Plan Shares - Buyout award
On 15 March 2025, shares in Drax Group plc were issued to Persons Discharging Managerial Responsibility ("PDMRs") as set forth in the table below.
The issuance was an automatic vesting of the second tranche of "buyout" awards originally granted on 15 March 2024 under the Drax Group plc Long-Term Incentive Plan 2020 (the "LTIP") to replace awards forfeited with her previous employer.
The Company was notified on 17 March 2025 that Laurie Fitzmaurice sold sufficient shares to satisfy her tax liability arising on the vesting of shares. Shares were sold at a price of 566.24 pence per share.
Director/PDMR | Total LTIP award vesting1 | Number of shares sold to meet the tax liability | Net shares retained | Total number of shares held in the Company |
Laurie Fitzmaurice | 45,368 | 14,865 | 30,503 | 41,213 |
Notes:
1. Includes shares in lieu of accrued dividends throughout the vesting period.
The information below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
Details of PDMR / person closely associated with them ("PCA") | |||||||
Name | Will Gardiner | ||||||
Reason for the notification | |||||||
Position / status | Chief Executive Officer | ||||||
Initial notification / amendment | Initial Notification | ||||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
Name | Drax Group plc | ||||||
LEI | 549300YPSNTXR4ZHSR98 | ||||||
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 | |||||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
Nature of the transaction | Automatic vesting of the DSP and LTIP awards and sale of sufficient shares to cover taxes due. | ||||||
Price(s) and volume(s) |
| ||||||
Aggregated information - Aggregated volume - Price |
114,917 573.86 pence per share | ||||||
Date of the transaction | 19 March 2025 | ||||||
Place of the transaction | XLON | ||||||
Details of PDMR / person closely associated with them ("PCA") | |||||||
Name | Andy Skelton | ||||||
Reason for the notification | |||||||
Position / status | Chief Financial Officer | ||||||
Initial notification / amendment | Initial Notification | ||||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
Name | Drax Group plc | ||||||
LEI | 549300YPSNTXR4ZHSR98 | ||||||
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 | |||||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||||
Nature of the transaction | Automatic vesting of the DSP and LTIP awards and sale of sufficient shares to cover taxes due. | ||||||
Price(s) and volume(s) |
| ||||||
Aggregated information - Aggregated volume - Price |
64,008 573.86 pence per share | ||||||
Date of the transaction | 19 March 2025 | ||||||
Place of the transaction | XLON | ||||||
Details of PDMR / person closely associated with them ("PCA") | |||||
Name | Paul Sheffield | ||||
Reason for the notification | |||||
Position / status | Chief Commercial Officer | ||||
Initial notification / amendment | Initial Notification | ||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
Name | Drax Group plc | ||||
LEI | 549300YPSNTXR4ZHSR98 | ||||
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 | |||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||
Nature of the transaction | Automatic vesting of the LTIP awards and sale of sufficient shares to cover taxes due. | ||||
Price(s) and volume(s) |
| ||||
Aggregated information - Aggregated volume - Price |
N/A
| ||||
Date of the transaction | 19 March 2025 | ||||
Place of the transaction | XLON | ||||
Details of PDMR / person closely associated with them ("PCA") | |||||
Name | Laurie Fitzmaurice | ||||
Reason for the notification | |||||
Position / status | President, Carbon Removals | ||||
Initial notification / amendment | Initial Notification | ||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
Name | Drax Group plc | ||||
LEI | 549300YPSNTXR4ZHSR98 | ||||
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 | |||||
Description of the financial instrument Identification code | Ordinary shares of 11 16/29 pence GB00B1VNSX38 | ||||
Nature of the transaction | Automatic vesting of the LTIP awards and sale of sufficient shares to cover taxes due. | ||||
Price(s) and volume(s) |
| ||||
Aggregated information - Aggregated volume - Price |
N/A
| ||||
Date of the transaction | 17 March 2025 | ||||
Place of the transaction | XLON | ||||
--ENDS--
Related Shares:
Drax