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Convatec Group PLC: Director/ PDMR Shareholdi...
Convatec Group PLC: Director/ PDMR Shareholdi....
About this update from Convatec Group Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nConvatec Group PLC (CTEC)\n\n\n\n\n\n\nConvatec Group PLC: Director/ PDMR Shareholding 12-March-2024 / 16:00 GMT/BST\n\n\n12 March 2024\n\nConvatec Group Plc(“Convatec” or “the Company”)\n\nDirector/ PDMR Shareholding \n\nThe Company has been notified of the following transactions in relation to Persons Discharging Managerial Responsibility (“PDMR”) in respect of ordinary shares of 10 pence each in the Company (“Shares”). \n\nGrant of Awards under the Company’s Long Term Incentive Plan (“LTIP”) \n \n\nOn the 11 March 2024, awards were granted to Karim Bitar, Chief Executive Officer and Jonny Mason, Chief Financial Officer under the LTIP in the form of Performance Share Units (“PSUs”). These awards are due to vest on the third anniversary of grant, conditional on the following performance conditions: adjusted PBT growth, organic revenue growth, and TSR over the three financial years to 31 December 2026; and subject to a two-year post vesting holding period. Further details of the LTIP and performance conditions will be available in the Company’s 2023 Annual Report.\n\n \n\nKarim Bitar: 1,025,891\n\n \n\nJonny Mason: 464,221\nThe three-day average share price, closing on 8 March 2024 of £2.76 was used in determining the awards.\n\nGrant of Awards under the Company’s Deferred Bonus Plan (“DBP”)\nOn the same date, awards were also granted to Karim Bitar and Jonny Mason, under the DBP in the form of restricted stock units (“RSUs”), which are due to vest on the third anniversary of grant and are not subject to performance conditions:\n\nKarim Bitar: 226,266\n\nJonny Mason: 122,863\n\nThe three-day average share price, closing on 8 March 2024 of £2.76 was used in determining the awards.\n\nVesting of Awards under the Company’s LTIP \nAlso on 11 March 2024, share awards granted to Karim Bitar in 2021 under the LTIP vested: \n\n\n Shares vested\n \n \n Shares sold to satisfy income tax & NI liabilities\n \n \n Share price\n \n \n Total shares acquired\n \n \n \n\n 592,209\n \n \n \n\n 279,106\n \n \n \n\n 2.805\n \n \n \n\n 313,103\n \n Vesting of Awards under the Company’s DBP \nOn the same day, awards granted to Karim Bitar in 2021 under the DBP, vested:\n\n\n Shares vested\n \n \n Shares sold to satisfy income tax ...