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Notification and public disclosure of transactions by persons discharging managerial responsibilities (“PDMRs”) and persons closely associated with them
SThree plc (the 'Company') announces that a performance share award under the Long Term Incentive Plan (“LTIP”) was granted to Timo Lehne on 26 July, for no consideration.
As announced on 28 April 2022, Timo Lehne was appointed as permanent Chief Executive Officer, having been acting as interim Chief Executive Officer since 1 January 2022. Upon being appointed to the position of Chief Executive Officer permanently Timo Lehne’s base salary was increased to £483,900, set at a level commensurate with the base salary of the previous permanent Chief Executive Officer.
This additional award represents 150% of the salary increase, pro-rated for the proportion of the financial year left to run after appointment as permanent Chief Executive Officer, as outlined below.
Performance targets and target ranges are the same as set out in the original grant, announced on 23 February 2022 and set out in the 2021 Annual Report on Remuneration. The Carbon Reduction Target (representing 3.3% of the overall performance targets) is currently being validated in accordance with the Science Based Targets initiative’s Net Zero Standard and is expected to be published later this year. Subject to the performance conditions being met the awards will vest three years after the date of grant.
The Company can further confirm that Mr Lehne’s remuneration will be in accordance with the Company’s Remuneration Policy as approved by shareholders, with full details to be set out in the Remuneration Report. The key elements of his remuneration package are as follows;
For the 2022 financial year, Short Term Incentive (“STI”) bonus opportunities and LTIP awards would be determined and pro-rated by reference to salary levels and applicable limits in respect of position held within the year.
The relevant notifications in respect of the award are set out below.
Deputy Company Secretary
3.1. Additional regulated information required to be disclosed under the laws of a Member State
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