Director/PDMR shareholding

Tagged in: RNS Announcements
The following deferred share awards, which were first disclosed in January 2018 and were reported in both the 2018 and the 2019 Remuneration Reports and most recently approved by shareholders at the AGM held on 28 May 2020, have vested today. 
These awards relate to the buy-out of remuneration from Simon Pitts’ previous employer as detailed below.  Simon Pitts was awarded a total of 145,972 shares and has sold 70,066 shares at the close price on 16 June 2020 of 249 pence to cover the tax and NIC liability arising on this award.  The components of the award are:
  • 108,053 deferred shares representing the second tranche of the buyout award, the third and final tranche of which will vest in March 2021;
  • 37,919 shares arising from participation in the 2017 STV LTIP award which vested at 18% of the maximum award.
Simon Pitts’ total shareholding is now 115,090 shares (0.3% of the current issued share capital).  Additionally, Simon Pitts will participate in the placing announced earlier today, to acquire shares to the value of £75,000.  This level of participation represents a commitment in excess of his pro-rata share of his shareholding post the deferred share award which vested today.
Jane E A Tames
Company Secretary, STV Group plc
Tel: 0141 300 3074