MJ Gleeson PLC Performance Share Plan award to Directors/PDMRs (0115T)

TIDMGLE

RNS Number : 0115T

MJ Gleeson PLC

22 March 2021

22 March 2021

MJ Gleeson plc

(GLE.L)

Performance Share Plan award to Directors/PDMRs

On 24 September 2020, the Company granted share options (the "Awards") to James Thomson and Stefan Allanson, Chief Executive Officer and Chief Financial Officer, respectively, under the Company's Long Term Incentive Plan. As outlined in the Company's 2020 Annual Report, t he EPS and relative TSR performance targets attached to the Awards would be set by the Remuneration Committee within six months.

The Remuneration Committee has now determined the performance targets, and they are as follows:

 
                         Weighting      Threshold      Maximum (100%) 
                                      (20%) of award    of award vests 
                                          vests              [i] 
 EPS for the year 
  ending 30 June 2023       50%           70.0p             82.5p 
                        ==========  ================  ================ 
 Relative TSR[ii]           50%          Median        Upper Quartile 
  over the three year 
  period ending 30 
  June 2023 
                        ==========  ================  ================ 
 

[i] S traight-line vesting between threshold and maximum performance. No vesting for below threshold performance.

   [ii]   To be compared against a group of leading listed housebuilders 

Enquiries:

 
Leanne Johnson 
 Head of Legal and Company Secretary 
 MJ Gleeson plc                         Tel: [phone] 
 

LEI: 21380064K7N2W7FD6434

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March 22, 2021 04:34 ET (08:34 GMT)