3 July 2023
Diversified Energy Company PLC
("DEC" or the "Company")
Vesting of Restricted Stock Units and PDMR Share Dealings
Diversified Energy Company PLC (LSE: DEC), announces the vesting of 125,000 Restricted Stock Units ("RSUs") previously issued under the Company's equity incentive plan (the "Plan") to Benjamin Sullivan, Executive Vice President, General Counsel and Corporate Secretary.
To settle the award, the Company will transfer 59,562 ordinary shares of £0.01 each (net of withholding tax) from its Employee Benefit Trust (the "EBT")(a). As disclosed in the Company's 2022 Annual Report, Diversified established the trust to eliminate dilution from vesting events under the Group's share based incentive plans.
Mr. Sullivan now holds 616,280 shares in the Company, representing 0.06% of the Company's issued share capital.
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a) |
Diversified's Employee Benefit Trust is operated by a third-party entity. |
For further information, please contact:
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Diversified Energy Company PLC |
+1 973 856 2757 |
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Doug Kris, Vice President, Investor Relations |
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www.div.energy |
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dkris@dgoc.com |
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FTI Consulting |
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US & UK Financial Public Relations |
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dec@fticonsulting.com |
About Diversified Energy Company PLC
Diversified Energy Company PLC is an independent energy company engaged in the production, marketing, transportation and retirement of primarily natural gas related to its US onshore upstream and midstream assets.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Benjamin Sullivan |
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2 |
Reason for the notification |
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a) |
Position/status |
Executive Vice President, General Counsel and Corporate Secretary |
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b) |
Initial notification/Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Diversified Energy Company PLC |
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b) |
LEI |
213800YR9TFRVHPGOS67 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Bonus award of restricted stock units constituting a right to acquire Ordinary Shares of 1p each |
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Identification code |
GB00BYX7JT74 |
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b) |
Nature of the transaction |
Vesting of restricted stock units under the Company's equity incentive plan |
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
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£Nil |
59,562 |
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d) |
Aggregated information |
N/A single transaction |
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Aggregated volume |
N/A single transaction |
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Price |
N/A single transaction |
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e) |
Date of the transaction |
1 July 2023 |
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f) |
Place of the transaction |
Outside a trading venue (XOFF) |
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