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On 23 March 2023, Glencore PLC granted its Chief Executive Officer, Gary Nagle, share units under a Deferred Bonus and a Restricted Share Plan (RSP). These comprised 316,399 deferred bonus share units and 608,622 RSP units, valued at GBP 5.45 per unit based on the December 2022 Volume Weighted Average Price. The aggregated values for these awards were GBP 1,725,706 for the deferred bonus units and GBP 3,319,552 for the RSP units.
| Date | 23 Mar 2023 |
| Time | 13:24:33 |
| Category | Director/PDMR dealings |
| ID | 0542U |
Baar, Switzerland
23 March 2023
Grant of awards to CEO
In line with its Remuneration Policy approved by shareholders on 29 April 2021, Glencore plc ("Glencore" or the "Company") announces that its Chief Executive Officer, Gary Nagle, was granted share units in respect of the Deferred Bonus and the Restricted Share Plan (RSP) awards on 23 March 2023. These share units will convert into ordinary shares of the Company on the vesting date, assuming that all conditions under the Remuneration Policy have been met.
Further details on Mr Nagle's remuneration is included in the Directors' Remuneration Report of the Company's 2022 Annual Report, including information on previous RSP share units awarded. However, the share units awarded under the RSP for 2023 listed below (ii) were outside the scope of the Directors' Remuneration Report and will be included in the 2023 Annual Report.
Details regarding the share units awarded in 2023 is contained in the table below.
PDMR notification
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Gary Nagle |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Executive Officer |
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b) |
Initial notification/Amendment |
Amendment |
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3 |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
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a) |
Name |
Glencore plc |
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b) |
LEI |
2138002658CPO9NBH955 |
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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 |
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a) |
Description of the financial instrument, type of instrument
Identification code |
Awarded units converting into ordinary shares upon vesting date, in line with Remuneration Policy. i) Share units awarded under the deferred bonus award vest 3 years following granting date and are subject to continuous employment ii) Share units awarded under RSP vest 3 years following granting date and are subject to performance underpins and holding periods
ISIN: JE00B4T3BW64 |
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b) |
Nature of the transaction |
According to Remuneration Policy, awarded units include: i) Grant of share units under the deferred bonus award, representing 50% of 2022 bonus outturn ii) Grant of share units under the RSP |
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c) |
Price(s) and volume(s) |
Price(s) i) GBP 5.45 / USD 6.65, based on the Volume Weighted Average Price (VWAP) of December 2022 |
Volume(s) i) 316,399
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Price(s) ii) GBP 5.45 / USD 6.65, based on the VWAP of December 2022 |
Volume(s) ii) 608,622 |
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d) |
Aggregated information · Aggregated volume · Price |
i) - Aggregated volume: N/A - Price: GBP 1,725,706 / USD 2,105,438 |
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ii) - Aggregated volume: N/A - Price: GBP 3,319,552 / USD 4,050,000 |
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e) |
Date of the transaction |
23 March 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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For further information please contact:
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Investors |
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Martin Fewings |
t: +41 41 709 28 80 |
m: +41 79 737 56 42 |
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Media |
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Charles Watenphul |
t: +41 41 709 24 62 |
m: +41 79 904 33 20 |
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Company Secretarial |
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John Burton |
t: +41 41 709 26 19 |
m: +41 79 944 54 34 |
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Nicola Leigh |
t: +41 41 709 27 55 |
m: +41 79 735 39 16 |
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Lionel Mateo |
t: +41 41 709 28 47 |
m: +41 79 152 09 05 |
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www.glencore.com Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With around 140,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 40 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
We recognise our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement by decarbonising our own operational footprint. We believe that we should take a holistic approach and have considered our commitment through the lens of our global industrial emissions. Against a 2019 baseline, we are committed to reducing our Scope 1, 2 and 3 industrial emissions by 15% by the end of 2026, 50% by the end of 2035 and we have an ambition to achieve net zero industrial emissions by the end of 2050. For more detail see our 2022 Climate Report on the publication page of our website at glencore.com/publications.
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Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.