REG - Harbour Energy PLC - Director/PDMR Shareholding
09/04/2024 11:00
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RNS Number : 8571J Harbour Energy PLC 09 April 2024
Harbour Energy plc
(the "Company" or "Harbour")
Grant of Awards under the Company's 2017 Long Term Incentive Plan ("2017
LTIP")
Grant of Performance Share Awards
On 8 April 2024, Performance Share Awards (the "Awards") were granted to the
Executive Directors named below under the 2017 LTIP. The Awards have been
granted in the form of contingent share awards over ordinary shares in the
Company and the Awards will only vest if certain performance targets are met
over a three-year performance period from 1 January 2024 to 31 December 2026
(the "Performance Period").
The performance target for the Awards is based on two equally weighted
measures: the Company's Total Shareholder Return ("TSR") compared to the FTSE
100 (excluding investment trusts) and relative TSR compared to a bespoke group
of comparators. Full details of the comparator group are set out in the
Directors Remuneration Report included in the 2023 Annual Report and Accounts,
available at harbourenergy.com.
Subject to the achievement of the performance target and the Remuneration
Committee's assessment of overall Company performance, the Awards will
normally vest on 8 April 2027, being three years from the date of grant. The
Executive Directors will then be required to hold the shares (on an after-tax
basis) until the fifth anniversary of the date of grant. The Awards are also
subject to malus and clawback provisions under the 2017 LTIP.
The Awards were calculated using the average of the mid-market closing prices
for the five dealing days preceding the award date.
Director Percentage of salary awarded Shares awarded Award price Date of award
Linda Z. Cook 300% 939,947 £2.835 8 April 2024
Alexander Krane 300% 618,222 £2.835 8 April 2024
Grant of Deferred Bonus Awards
In accordance with the Company's Remuneration Policy, on 8 April 2024,
Deferred Bonus Awards were granted to the Executive Directors named below in
respect of 50% of the 2023 Annual Bonus awarded to them. The Deferred Bonus
Awards have been granted in the form of contingent share awards over ordinary
shares in the Company and will normally vest three years from date of
grant.
Director Shares awarded Award price Date of award
Linda Z. Cook 143,915 £2.835 8 April 2024
Alexander Krane 91,555 £2.835 8 April 2024
Enquiries
Harbour Energy
plc Tel:
020 7730 1111
Elizabeth Brooks, Head of Investor Relations
Rachel Rickard, Company Secretary
The information set out below is provided in accordance with the requirements
of Article 19(3) of MAR.
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Linda Z. Cook
2 Reason for the notification
a) Position/status 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 Harbour Energy plc
b) LEI 213800YPC42DYBKVPF97
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 Ordinary shares of 0.002 pence each
Identification code GB00BMBVGQ36
b) Nature of the transaction i) Grant of Performance Share Awards under the Harbour
Energy 2017 Long Term Incentive Plan
ii) Grant of Deferred Bonus Awards under the Harbour
Energy 2017 Long Term Incentive Plan
c) Price(s) and volume(s) Price(s) Volume(s)
i) £0.00 939,947
143,915
ii) £0.00
d) Aggregated information
- Aggregated volume
- Price 1,083,862
£0.00
e) Date of the transaction 2024-04-08
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
1,083,862
£0.00
e)
Date of the transaction
2024-04-08
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Alexander Krane
2 Reason for the notification
a) Position/status 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 Harbour Energy plc
b) LEI 213800YPC42DYBKVPF97
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 Ordinary shares of 0.002 pence each
Identification code GB00BMBVGQ36
b) Nature of the transaction i) Grant of Performance Share Awards under the Harbour
Energy 2017 Long Term Incentive Plan
ii) Grant of Deferred Bonus Awards under the Harbour
Energy 2017 Long Term Incentive Plan
c) Price(s) and volume(s) Price(s) Volume(s)
i) £0.00 618,222
91,555
ii) £0.00
d) Aggregated information
- Aggregated volume
- Price 709,777
£0.00
e) Date of the transaction 2024-04-08
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
709,777
£0.00
e)
Date of the transaction
2024-04-08
f)
Place of the transaction
Outside a trading venue
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