Dr. Martens plc (the
'Company')
Director/PDMR
Shareholding
Notification of Transactions
by Directors/Persons Discharging Managerial
Responsibility
The Company announces that on 14
June 2024 the following directors / persons discharging managerial
responsibility ('PDMR') were granted Performance Share Awards (the
'Awards') under the Company's Long Term Incentive Plan (the
'LTIP').
|
PDMR
|
Number of
Shares
|
|
Kenny
Wilson
|
2,186,147
|
|
Giles
Wilson
|
1,441,736
|
The Awards will vest subject to the
achievement of earnings per share ('EPS') (50% weighting), relative
total shareholder return ('TSR') (25% weighting), and operating
cash flow conversion (25% weighting) targets over three years and,
on vesting, will be subject to a further two-year holding period.
In recognition of the lower share price since the last grant, the
grant percentage has been scaled back from the normal policy level
of 300% to 250% of base salary.
No consideration was paid for the
grant of the Award and no price is payable on the exercise of the
Award.
The basis of the TSR measure and the
target range for the EPS measure are both unchanged from FY24. The
TSR performance measure will be based on relative performance
against the companies within the FTSE 350 Index (excluding
Investment Trusts). The target range for the three-year EPS CAGR is
3% to 11%, against the base year of FY24, which the Committee views
as suitably stretching. The operating cash flow conversion target
is calculated as operating cash flow (EBITDA less change in net
working capital, share-based payment expense and capital
expenditure) divided by EBITDA, based on the average of the annual
operating cash flow over the three-year performance period with a
target range of 60% to 90%, representing a material improvement
over the three-year performance period compared to the FY24
equivalent.
Full details of the target ranges
will be set out in the Directors' Remuneration Report contained
within the 2025 Annual Report & Accounts.
The relevant notifications set out
below are provided in accordance with the requirements of Article
19 of the UK Market Abuse Regulation.
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
Kenny Wilson
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
PDMR (Chief Executive
Officer)
|
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Dr. Martens plc
|
|
b)
|
LEI
|
213800QPT8YM6NQZPH28
|
|
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 GBP
0.01
ISIN: GB00BL6NGV24
|
|
b)
|
Nature of the transaction
|
Grant of performance share award
under the Dr. Martens Long Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
|
Nil
|
2,186,147
|
|
|
d)
|
Aggregated information
|
-
|
Aggregated volume
|
|
-
|
Price
|
|
2,186,147
Nil
|
|
e)
|
Date of the transaction
|
14 June 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading venue
|
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
Giles Wilson
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
PDMR (Chief Financial
Officer)
|
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Dr. Martens plc
|
|
b)
|
LEI
|
213800QPT8YM6NQZPH28
|
|
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 GBP
0.01
ISIN: GB00BL6NGV24
|
|
b)
|
Nature of the transaction
|
Grant of performance share award
under the Dr. Martens Long Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
|
Nil
|
1,441,736
|
|
|
d)
|
Aggregated information
|
-
|
Aggregated volume
|
|
-
|
Price
|
|
1,441,736
Nil
|
|
e)
|
Date of the transaction
|
14 June 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading venue
|
For further information, please
contact:
Paul Rolling, Assistant Company Secretary
+447584243562
Bethany Barnes, Director of Investor
Relations
+447825187465
ENDS
About Dr. Martens
Dr. Martens is an iconic
British brand founded in 1960 in Northamptonshire. Produced
originally for workers looking for tough, durable boots, the brand
was quickly adopted by diverse youth subcultures and associated
musical movements. Dr. Martens has since transcended its
working-class roots while still celebrating its proud heritage and,
six decades later, "Docs" or "DM's" are worn by people around the
world who use them as a symbol of empowerment and their own
individual attitude. The Company is a constituent of the FTSE 250
index.