Director/PDMR Shareholding
Updated : 09:00
7 July 2020
Paragon Banking Group PLC
Director Shareholding
On 6 July 2020, Paragon Banking Group PLC (the "Company") granted awards over the Company's Ordinary Shares of £1.00 each to the following directors under the Paragon Performance Share Plan 2013 ("PPSP").
Director | Role | Number of shares awarded under PPSP |
N S Terrington | Chief Executive Officer | 312,429 |
R J Woodman | Chief Financial Officer | 196,763 |
No consideration was paid for the grant of the awards, which have been structured as nil-cost options.
The awards will vest subject to the satisfaction of performance conditions, which will be measured over the period of three financial years ending on 30 September 2022. The awards, to the extent they vest, will ordinarily become exercisable following the end of a further holding period when the Company announces its results for the financial year ending 30 September 2024. The awards will, ordinarily, remain exercisable until the day before the tenth anniversary of the date of grant.
The number of shares subject to each award has been determined by reference to a share price of £3.4496, being the average share price over the five dealing days immediately following the announcement by the Company of its results for the six months ended 31 March 2020. Having regard to recent share price movements, the Remuneration Committee has retained discretion to reduce the extent to which the awards vest if any value in the award when the performance conditions are assessed is considered a "windfall gain" as a result of the use of this price, rather than the price following the announcement by the Company of its results for the financial year ended 30 September 2019.
Enquiries:
Carolyn Sharpe
Senior Assistant Company Secretary
Tel: 07984810427
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Nigel Stewart Terrington | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer (PDMR) | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer | |||||
a) | Name | Paragon Banking Group PLC | ||||
b) | LEI code
| 213800S1TDKIB1IUTS72 | ||||
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 Identification code | Ordinary shares of £1.00 each in Paragon Banking Group PLC GB00B2NGPM57 | ||||
c) | Nature of the transaction | Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP"). | ||||
d) | Price(s) and volume(s)
|
| ||||
e) | Aggregated information | N/A | ||||
f) | Date of the transaction | 6 July 2020
| ||||
g) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Richard James Woodman | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer (PDMR) | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer | |||||
a) | Name | Paragon Banking Group PLC | ||||
b) | LEI code
| 213800S1TDKIB1IUTS72 | ||||
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 Identification code | Ordinary shares of £1.00 each in Paragon Banking Group PLC GB00B2NGPM57 | ||||
b) | Nature of the transaction | Grant of awards, in the form of nil-cost options, under the Paragon Performance Share Plan ("PPSP"). | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information | N/A | ||||
e) | Date of the transaction | 6 July 2020
| ||||
f) | Place of the transaction | Outside a trading venue | ||||
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