KELLER GROUP PLC - Director/PDMR Shareholding
PR Newswire
London, March 17
Keller Group plc (the "Company")
Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
Awards made under the Company's Long-Term Incentive Plan ("LTIP")
On 15 March 2022 the Company granted:
- Deferred bonus share awards totalling 61,840 ordinary shares of 10p each in the Company ("Ordinary Shares"); and
- Performance share awards totalling 394,163 Ordinary Shares
The grant to the PDMRs listed in the tables below was approved by the Remuneration Committee under the terms of the LTIP and the Company was notified by the PDMRs on 17 March 2022. The transactions took place in the United Kingdom.
Deferred Bonus Share Award - in respect of the year ended 31 December 2021
Executive Directors are subject to a deferral of 25% of any annual bonus payment into Ordinary Shares for a period of two years. The deferred bonus share award retains eligibility for dividend equivalents from the date of grant until the vesting date. Malus and clawback apply.
| Name | Position | No. of Ordinary Sharesawarded1/3 | Total Deferred Bonus Awards outstanding3 |
| Michael Speakman | Chief Executive Officer | 24,684 | 48,214 |
| David Burke | Chief Financial Officer | 16,206 | 19,728 |
Other PDMRs are subject to a deferral into Ordinary Shares of any annual bonus payment in excess of 100% of salary. The deferral is also for a period of two years, with the deferred bonus share award retaining eligibility for dividend equivalents from the date of grant until the vesting date. Malus and clawback apply.
| Name | Position | No. of Ordinary Sharesawarded1/3 | Total Deferred Bonus Awards outstanding3 |
| Jim De Waele | President, Europe | 1,921 | 1,921 |
| Eric Drooff | President, North America | 5,647 | 9,365 |
| Venu Raju | Engineering and Operations Director | 13,382 | 27,440 |
Performance Share Award - for the period 2022/24
| Name | Position | No. of Ordinary Shares awarded 1/2/3 | Total Performance Share Awards outstanding3 |
| Michael Speakman | Chief Executive Officer | 112,990 | 325,361 |
| David Burke | Chief Financial Officer | 61,820 | 118,093 |
| Graeme Cook | Group People Director | 26,111 | 74,156 |
| Jim De Waele | President, Europe | 29,674 | 78,707 |
| Eric Drooff | President, North America | 35,669 | 105,407 |
| Kerry Porritt | Group Company Secretary and Legal Advisor | 22,760 | 63,651 |
| John Raine | Group HSEQ Director | 21,623 | 63,694 |
| Venu Raju | Engineering and Operations Director | 29,535 | 102,016 |
| Katrina Roche | Chief Information Officer | 24,234 | 46,293 |
| Peter Wyton | President, AMEA | 29,747 | 84,8774 |
The measures selected by the Remuneration Committee together with the associated targets are shown on the table below. The weightings are all set at 25% in order to provide balance between measures and materiality to each of them individually.
| Measure | Weighting | Vesting Schedule | ||
| % of award that will vest | ||||
| 0% | 25% | 100% | ||
| Operating Profit Margin | 25% | Below 5.5% | 5.5% | 6.5% |
| Cumulative EPS | 25% | Below 330p | 330p | 400p |
| ROCE | 25% | Below 12% | 12% | 18% |
| Relative TSR | 25% | Below median | Median | Upper quartile |
The Performance Share Award performance conditions are measured over a three year period ending on 31 December 2024, except for the Operating Profit Margin which is measured in year three. The Performance Share Award performance conditions are expected to vest in March 2025. Executive Directors are subject to a further two year holding period. Malus and clawback apply.
Enquiries:
Keller Group plc
Silvana Glibota-Vigo, Group Head of Secretariat
Tel: 020 7616 7575
1 The price used to calculate the maximum number of Ordinary Shares under the Deferred Bonus Share Award and Performance Share Award was 781p, being the average closing price on 9, 10 and 11 March 2022 of the Company's shares on the main market of the London Stock Exchange.
2 The amounts shown above represent the maximum possible number of Ordinary Shares that may be granted to the above named participants under the 2022 Performance Share Award.
3 The awards above exclude notional dividends.
4 55,130 of these Performance Share Awards are rights to receive cash linked to share value and will, to the extent vested following the end of the performance period, be settled in cash.
LEI number: 549300QO4MBL43UHSN10
Classification: 2.2 Inside information
