SSE
plc
Director/PDMR Shareholding
SSE
plc (the "Company") - Notification of Transactions of
Directors/Persons Discharging Managerial Responsibilities and their
Closely Associated Persons
(i)
Deferred Bonus Scheme (DBS) - Vesting of Awards Granted 6 July
2021
On 31 May 2024, the independent Trustee of the
SSE Employee Trust notified the Company that it had on 30 May 2024
transferred the following beneficial interest of Ordinary shares of
50 pence each fully paid in the Company, pursuant to awards granted
on 6 July 2021 under the DBS including additional shares
representing the value of reinvested dividends over the three-year
period to the Directors/PDMRs listed in the table that
follows. Vesting of these shares was subject to continuous
employment over the three-year period from date of grant (or as
provided by the DBS Plan Rules).
1
|
Details of the
person(s) discharging managerial responsibilities/person closely
associated with
|
a)
|
Name(s)
|
Alistair Phillips-Davies (Director)
Barry O'Regan (Director)
Martin Pibworth (Director)
Chris Burchell (PDMR)
Rob McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
As noted in 1a) above
|
b)
|
Initial notification/Amendment
|
Initial notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
a)
|
Name
|
SSE plc
|
b)
|
LEI
|
549300KI75VYLLMSK856
|
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
|
Ordinary shares of 50 pence each fully
paid
ISIN: GB0007908733
|
b)
|
Nature of transaction
|
Vesting of Awards under the SSE plc Deferred
Bonus Scheme
|
c)
|
Price(s) and volume(s)
|
Vesting of awards granted under the SSE plc
Deferred Bonus Scheme on 6 July 2021 at a vesting price of
GBP£17.128269
|
|
Executive Director/PDMR
|
Gross Award of Shares
|
Accrued Dividend Shares
|
Total Shares
|
No.
Shares sold at £17.128269 to meet income tax and
National Insurance liabilities
|
Net Number of
Shares transferred to Participant
|
Alistair Phillips-Davies
(Director)
|
20,650
|
3,383
|
24,033
|
11,336
|
12,697
|
Barry O'Regan (Director)
|
2,534
|
412
|
2,946
|
1,538
|
1,408
|
Martin Pibworth
(Director)
|
11,174
|
1,828
|
13,002
|
6,524
|
6,478
|
Chris Burchell
(PDMR)
|
1,916
|
312
|
2,228
|
1,051
|
1,177
|
Rob McDonald
(PDMR)
|
4,473
|
730
|
5,203
|
2,611
|
2,592
|
Sam Peacock
(PDMR)
|
2,146
|
350
|
2,496
|
1,178
|
1,318
|
John Stewart
(PDMR)
|
2,984
|
486
|
3,470
|
1,742
|
1,728
|
Elizabeth Tanner
(PDMR)
|
3,025
|
492
|
3,517
|
1,659
|
1,858
|
Stephen Wheeler
(PDMR)
|
3,686
|
601
|
4,287
|
2,238
|
2,049
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
As noted in 4c) above
As noted in 4c) above
|
e)
|
Date of transaction
|
30 May 2024
|
f)
|
Place of transaction
|
Outside a trading venue
|
(ii)
Performance Share Plan (PSP) -
Vesting of Awards Granted 6 July 2021
On 31 May 2024
the independent Trustee of the SSE Employee Trust notified the
Company that it had on 30 May 2024 transferred the beneficial
interest of Ordinary shares of 50 pence each fully paid in the
Company, pursuant to awards granted on 6 July 2021 under the PSP
including additional shares representing the value of reinvested
dividends over the three-year period to the Executive Directors
listed in the table that follows. Vesting of these shares was
subject to certain performance conditions being met at the end of
the three-year performance period commencing 1 April 2021. In
total 62% of the award vested for participants. The vested
shares (balance post-tax), known as "Award Shares" for Alistair
Phillips-Davies and Martin Pibworth are subject to a further
holding period and will be held under nominee in accordance with
the PSP Rules.
1
|
Details of the
person(s) discharging managerial responsibilities/person closely
associated with
|
a)
|
Name(s)
|
Alistair Phillips-Davies (Executive
Director)
Martin Pibworth (Executive Director)
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
As noted in 1a) above
|
b)
|
Initial notification/Amendment
|
Initial notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
a)
|
Name
|
SSE plc
|
b)
|
LEI
|
549300KI75VYLLMSK856
|
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
|
Ordinary shares of 50 pence each fully
paid
ISIN: GB0007908733
|
b)
|
Nature of transaction
|
Vesting of Awards under the SSE plc Performance
Share Plan.
|
c)
|
Price(s) and volume(s)
|
Vesting of awards granted under the SSE plc
Performance Share Plan on 6 July 2021 at a vesting price of
GBP£17.128269
|
|
Executive Director/PDMR
|
Gross Award of Shares
|
Accrued Dividend Shares
|
Total Shares vested at 62%
|
No.
Shares sold at £17.128269 to meet income tax and
National Insurance liabilities
|
Award Shares
transferred to Nominee
|
Alistair Phillips-Davies (Executive
Director)
|
122,131
|
20,009
|
88,125
|
41,565
|
46,560
|
Martin Pibworth
(Executive Director)
|
73,597
|
12,055
|
53,103
|
26,645
|
26,458
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
As noted in 4c) above
As noted in 4c) above
|
e)
|
Date of transaction
|
30 May 2024
|
f)
|
Place of transaction
|
Outside a trading venue
|
(iii)
Leadership Share Plan (LSP) -
Vesting of Awards Granted 6 July 2021
On 31 May 2024 the independent Trustee of the
SSE Employee Trust notified the Company that it had on 30 May 2024
transferred the beneficial interest of Ordinary shares of 50 pence
each fully paid in the Company, pursuant to awards granted on 6
July 2021 under the LSP including additional shares representing
the value of reinvested dividends over the three-year period to the
PDMRs listed in the table that follows. Vesting of these
shares was subject to certain performance conditions being met at
the end of the three-year performance period commencing 1 April
2021. In total 86% of the award vested for
participants.
1
|
Details of the
person(s) discharging managerial responsibilities/person closely
associated with
|
a)
|
Name(s)
|
Barry O'Regan (Director)
Chris Burchell (PDMR)
Rob McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
As noted in 1a) above
|
b)
|
Initial notification/Amendment
|
Initial notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
a)
|
Name
|
SSE plc
|
b)
|
LEI
|
549300KI75VYLLMSK856
|
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
|
Ordinary shares of 50 pence each fully
paid
ISIN: GB0007908733
|
b)
|
Nature of transaction
|
Vesting of Awards under the SSE plc Leadership
Share Plan.
|
c)
|
Price(s) and volume(s)
|
Vesting of awards granted under the SSE plc
Leadership Share Plan on 6 July 2021 at a vesting price of
GBP£17.128269
|
|
Executive Director/PDMR
|
Gross Award of Shares
|
Accrued Dividend Shares
|
Total Shares vested at 86%
|
No.
Shares sold at £17.128269 to meet income tax and National Insurance
liabilities
|
Net Number of
Shares transferred to Participant
|
Barry O'Regan (Director)
|
15,616
|
2,556
|
15,623
|
8,153
|
7,470
|
Chris Burchell (PDMR)
|
30,039
|
4,920
|
30,063
|
14,180
|
15,883
|
Rob McDonald (PDMR)
|
24,372
|
3,991
|
24,388
|
12,237
|
12,151
|
Sam Peacock (PDMR)
|
11,682
|
1,911
|
11,686
|
5,512
|
6,174
|
John Stewart (PDMR)
|
17,514
|
2,866
|
17,523
|
8,793
|
8,730
|
Liz Tanner (PDMR)
|
18,175
|
2,976
|
18,188
|
8,579
|
9,609
|
Stephen Wheeler (PDMR)
|
17,679
|
2,894
|
17,690
|
9,232
|
8,458
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
As noted in 4c) above
As noted in 4c) above
|
e)
|
Date of transaction
|
30 May 2024
|
f)
|
Place of transaction
|
Outside a trading venue
|
(i)
Deferred Bonus Scheme (DBS) - Grant of Awards
On 31 May 2024 the independent Trustee of the SSE Employee Trust
notified the Company that it had on 30 May 2024 granted the
Directors/PDMRs listed in the table that follows awards over
Ordinary shares of 50 pence each fully paid in the Company under
the DBS. The number of shares under each award has been
calculated by reference to a price of £17.31 per share, being the
average of the Company's share price over the three dealing days
immediately preceding the date of grant.
Awards granted under the DBS represent a deferral of a proportion
of the cash bonus earned for the 2023/24 annual incentive year
which is converted into shares. The shares will vest after a
period of three years from the date of grant subject normally to
the participant remaining in employment with the Company. On
vesting, the participant will become entitled to additional shares
representing the value of reinvested dividends over the three-year
period.
1
|
Details of the
person(s) discharging managerial responsibilities/person closely
associated with
|
a)
|
Name(s)
|
Alistair Phillips-Davies (Director)
Barry O'Regan (Director)
Martin Pibworth (Director)
Christopher Burchell (PDMR)
Rob McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
As noted in 1a) above
|
b)
|
Initial notification/Amendment
|
Initial notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
a)
|
Name
|
SSE plc
|
b)
|
LEI
|
549300KI75VYLLMSK856
|
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
|
Ordinary shares of 50 pence each fully
paid
ISIN: GB0007908733
|
b)
|
Nature of transaction
|
Grant of Awards under the SSE plc Deferred
Bonus Scheme
|
c)
|
Price(s) and volume(s)
|
Conditional awards of shares, the number of
shares calculated by reference to a price of GBP£17.31, being the
average of the Company's share price over the three dealing days
immediately preceding the date of grant.
Director/PDMR
|
Total DBS Awards Granted
|
Alistair Phillips-Davies
(Director)
|
19,716
|
Barry O'Regan (Director)
|
2,974
|
Martin Pibworth
(Director)
|
11,768
|
Christopher Burchell
(PDMR)
|
5,402
|
Robert McDonald (PDMR)
|
5,945
|
Sam Peacock (PDMR)
|
2,726
|
John Stewart (PDMR)
|
3,435
|
Elizabeth Tanner (PDMR)
|
3,816
|
Stephen Wheeler (PDMR)
|
4,710
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
As noted in 4c) above
As noted in 4c) above
|
e)
|
Date of transaction
|
30 May 2024, date of grant
|
f)
|
Place of transaction
|
Outside a trading venue
|
(ii)
Performance Share Plan (PSP) - Grant of Awards
On 31 May 2024 the independent Trustee of the
SSE Employee Trust notified the Company that it had on 30 May 2024
granted the Executive Directors listed in the table that follows
awards over Ordinary shares of 50 pence each fully paid in the
Company under the PSP. The number of shares stated will
become available to each Executive Director if the performance
targets applicable to the award are achieved at their upper limit
or above. On vesting, the Executive Director will become
entitled to additional shares representing the value of reinvested
dividends over the performance period. The number of shares
under each award has been calculated by reference to a price of
£17.31 per share, being the average of the Company's share price
over the three dealing days immediately preceding the date of
grant.
Vesting of these awards will normally only take
place if performance conditions are satisfied over the three-year
performance period 1 April 2024 to 31 March 2027. These
performance conditions are those indicated in the
Remuneration Committee Report which forms part of SSE's 2024
Annual Report and Accounts which will be published on 14 June
2024.
Awards granted to Executive Directors will be
subject to an additional post-vesting holding period during which
time the Executive Director must retain the post-tax number of
shares vesting under award.
1
|
Details of the
person(s) discharging managerial responsibilities/person closely
associated with
|
a)
|
Name(s)
|
Alistair Phillips-Davies (Executive
Director)
Barry O'Regan (Executive Director)
Martin Pibworth (Executive Director)
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
As noted in 1a) above
|
b)
|
Initial notification/Amendment
|
Initial notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
a)
|
Name
|
SSE plc
|
b)
|
LEI
|
549300KI75VYLLMSK856
|
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
|
Ordinary shares of 50 pence each fully
paid
ISIN: GB0007908733
|
b)
|
Nature of transaction
|
Grant of Awards under the SSE plc Performance
Share Plan
|
c)
|
Price(s) and volume(s)
|
Conditional awards of shares, the number of
shares calculated by reference to a price of GBP£17.31, being the
average of the Company's share price over the three dealing days
immediately preceding the date of grant.
Director
|
Total PSP Awards Granted
|
Alistair Phillips-Davies
|
150,807
|
Barry O'Regan
|
84,489
|
Martin Pibworth
|
97,499
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
As noted in 4c) above
As noted in 4c) above
|
e)
|
Date of transaction
|
30 May 2024, date of grant
|
f)
|
Place of transaction
|
Outside a trading venue
|
(iii)
Leadership Share Plan (LSP) - Grant of Awards
On 31 May 2024 the independent Trustee of the
SSE Employee Trust notified the Company that it had on 30 May 2024
granted the PDMRs listed in the table that follows awards over
Ordinary shares of 50 pence each fully paid in the Company under
the LSP. The number of shares stated is the number
which will become available if the performance targets applicable
to the awards are achieved, although the number could be increased
or reduced by the Company performance adjuster described
below. On vesting, the PDMRs will become entitled to
additional shares representing the value of reinvested dividends
over the performance period.
The number of shares under the award has been
calculated by reference to a price of £17.31 per share, being the
average of the Company's share price over the three dealing days
immediately preceding the date of grant.
Vesting of the award will normally only take
place if the performance conditions are achieved over the
three-year performance period 1 April 2024 to 31 March 2027.
In addition, an overall Company performance adjuster, allowing
vesting rates to be adjusted up or down by up to 25% at the
discretion of the Remuneration Committee, may be applied if overall
performance of the Company over the performance period merits such
an upward or downward adjustment.
1
|
Details of the
person(s) discharging managerial responsibilities/person closely
associated with
|
a)
|
Name(s)
|
Christopher Burchell (PDMR)
Robert McDonald (PDMR)
Sam Peacock (PDMR)
John Stewart (PDMR)
Elizabeth Tanner (PDMR)
Stephen Wheeler (PDMR)
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
As noted in 1a) above
|
b)
|
Initial notification/Amendment
|
Initial notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
a)
|
Name
|
SSE plc
|
b)
|
LEI
|
549300KI75VYLLMSK856
|
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
|
Ordinary shares of 50 pence each fully
paid
ISIN: GB0007908733
|
b)
|
Nature of transaction
|
Grant of Awards under the SSE plc Leadership
Share Plan
|
c)
|
Price(s) and volume(s)
|
Conditional awards of shares, the number of
shares calculated by reference to a price of GBP£17.31, being the
average of the Company's share price over the three dealing days
immediately preceding date of grant.
PDMR
|
Total LSP Awards Granted
|
Christopher Burchell
(PDMR)
|
30,867
|
Rob McDonald (PDMR)
|
31,088
|
Sam Peacock (PDMR)
|
15,887
|
John Stewart (PDMR)
|
19,107
|
Elizabeth Tanner (PDMR)
|
21,231
|
Stephen Wheeler (PDMR)
|
31,648
|
|
d)
|
Aggregated information
- Aggregated
volume
-
Price
|
As noted in 4c) above
As noted in 4c) above
|
e)
|
Date of transaction
|
30 May 2024, date of grant
|
f)
|
Place of transaction
|
Outside a trading venue
|