⌘K
t
On April 1, 2026, Drax Group plc announced the vesting of Deferred Share Plan and Long-Term Incentive Plan awards for its Persons Discharging Managerial Responsibilities (PDMRs). CEO Will Gardiner had 188,487 shares vest in total from which he sold 88,901 shares at 886.12 pence each, while CCO Paul Sheffield sold all 27,575 vested shares at 886.12 pence per share, and CFO Frank Lemmink retained all 86,689 shares from his vested replacement LTIP award.
| Date | 2 Apr 2026 |
| Time | 15:29:37 |
| Category | Director/PDMR dealings |
| ID | 3171Z |
2 April 2026
Drax Group plc
("Drax" or "the Company")
Symbol: DRX
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
In accordance with Article 19 of the Market Abuse Regulation, the Company announces that it has been notified of the following transactions in the Company's Ordinary shares undertaken by the following persons discharging managerial responsibilities ("PDMRs").
Vesting of award under the Deferred Share Plan ("DSP")
On 1 April 2026, ordinary shares in Drax Group plc were issued to Will Gardiner (Chief Executive Officer) following conclusion of the three-year vesting period of the DSP award granted on 31 March 2023. The award granted in March 2023 represented the deferred element of the annual bonus paid for the financial year ended 31 December 2022.
The Company was notified on 1 April 2026 that Will Gardiner sold sufficient shares to satisfy his liability to Income Tax and National Insurance Contributions arising on the vesting of the award. His retained shares are subject to a two-year post-vesting holding period.
|
PDMR |
Total DSP award vesting1 |
Number of shares sold at 886.12p per share |
Net shares retained |
|
Will Gardiner
|
74,066 |
34,934 |
39,132 |
Note:
1. Includes shares in lieu of accrued dividends throughout the holding period.
Vesting of Awards under the Long-Term Incentive Plan 2020 ("LTIP")
On 1 April 2026, ordinary shares in Drax Group plc were issued to the below PDMRs following the conclusion of the three-year vesting period of the LTIP awards granted on 31 March 2023.
The Company was notified on 1 April 2026 that Will Gardiner sold sufficient shares to satisfy his Tax Liability arising on the vesting of shares. Paul Sheffield (Chief Commercial Officer) elected to sell all shares acquired on the vesting of his award. The retained shares for Will Gardiner are subject to a two-year post-vesting holding period.
|
PDMR |
Total LTIP award vesting1 |
Number of shares sold at 886.12p per share |
Net shares retained |
Total number of shares held in the Company (incl. held by spouse) |
|
Will Gardiner |
114,421 |
53,967 |
60,454 |
1,374,881 |
|
Paul Sheffield |
27,575 |
27,575 |
0 |
83,594 |
Note:
1. Includes shares in lieu of accrued dividends throughout the vesting period.
Vesting of Replacement Award under the LTIP
The following LTIP award, which was granted on 30 September 2025 to replace awards forfeited with the previous employer, Shell plc ("Shell"), vested on 31 March 2026. This is in accordance with the final performance vesting outcome of Shell's 2023 LTIP award as confirmed in Shell's 2025 annual report.
The Company was notified on 1 April 2026 that Frank Lemmink (Chief Financial Officer) retained all shares received as part of this award.
|
PDMR |
Total LTIP award vesting1 |
Number of shares sold2 |
Net shares retained |
Total number of shares held in the Company |
|
Frank Lemmink |
86,689 |
0 |
86,689 |
86,689 |
Notes:
1. Includes shares in lieu of accrued dividends throughout the vesting period.
2. Frank Lemmink elected to self-fund the tax liability arising on the vesting of the Replacement Award.
|
Details of PDMR / person closely associated with them ("PCA") |
|||||||
|
Name |
Will Gardiner |
||||||
|
Reason for the notification |
|||||||
|
Position / status |
Chief Executive Officer |
||||||
|
Initial notification / amendment |
Initial Notification |
||||||
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
Name |
Drax Group plc |
||||||
|
LEI |
549300YPSNTXR4ZHSR98 |
||||||
|
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 |
|||||||
|
Description of the financial instrument Identification code |
Ordinary shares of 11 16/29 pence GB00B1VNSX38 |
||||||
|
Nature of the transaction |
Vesting of the DSP and LTIP awards followed by the sale of shares to cover taxes due. |
||||||
|
Price(s) and volume(s) |
|
||||||
|
Aggregated information - Aggregated volume - Price |
188,487 shares vested 88,901 shares sold @ 886.12 pence per share |
||||||
|
Date of the transaction |
1 April 2026 |
||||||
|
Place of the transaction |
XLON |
||||||
|
Details of PDMR / person closely associated with them ("PCA") |
|||||
|
Name |
Paul Sheffield |
||||
|
Reason for the notification |
|||||
|
Position / status |
Chief Commercial Officer |
||||
|
Initial notification / amendment |
Initial Notification |
||||
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
Name |
Drax Group plc |
||||
|
LEI |
549300YPSNTXR4ZHSR98 |
||||
|
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 |
|||||
|
Description of the financial instrument Identification code |
Ordinary shares of 11 16/29 pence GB00B1VNSX38 |
||||
|
Nature of the transaction |
Vesting of the LTIP award and sale of shares. |
||||
|
Price(s) and volume(s) |
|
||||
|
Aggregated information - Aggregated volume - Price |
n/a single transaction
|
||||
|
Date of the transaction |
1 April 2026 |
||||
|
Place of the transaction |
XLON |
||||
|
Details of PDMR / person closely associated with them ("PCA") |
|||||
|
Name |
Frank Lemmink |
||||
|
Reason for the notification |
|||||
|
Position / status |
Chief Financial Officer |
||||
|
Initial notification / amendment |
Initial Notification |
||||
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
Name |
Drax Group plc |
||||
|
LEI |
549300YPSNTXR4ZHSR98 |
||||
|
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 |
|||||
|
Description of the financial instrument Identification code |
Ordinary shares of 11 16/29 pence GB00B1VNSX38 |
||||
|
Nature of the transaction |
Vesting of LTIP replacement award. |
||||
|
Price(s) and volume(s) |
|
||||
|
Aggregated information - Aggregated volume - Price |
n/a single transaction |
||||
|
Date of the transaction |
1 April 2026 |
||||
|
Place of the transaction |
N/A |
||||
--END--