Executive Director PSP Award/PDMR shareholdings

22 December 2023

Kainos Group plc

("Kainos" or the "Company") 

Executive Director PSP Award/PDMR shareholdings

The Company announces that on 20 December 2023, a share award approved by the Board of Directors of the Company under the Kainos Group Performance Share Plan ("PSP Award"), in the form of nominal value options over Ordinary Shares was awarded to Richard McCann, CFO.  The PSP Award vests, other than in exceptional circumstances, over a three-year period from 20 December 2023. The performance conditions associated with the PSP Award are as follows:

(a)     25% of each PSP Award is subject to a performance condition based on the Company's Earnings Per Share ("EPS") Growth measured over the three financial years commencing 1 April 2023.  This portion of the PSP Award will:

·        not vest at all if EPS Growth over the measurement period is less than 5%;

·        vest in respect of 30% if EPS Growth over the measurement period is 5%;

·        vest in full if EPS Growth over the measurement period is 13% or higher;

·        vest proportionately, calculated on a straight-line basis if EPS Growth over the measurement period is higher than 5% but less than 13%.

(b)     45% of each PSP Award is subject to a performance condition based on the Company's Total Shareholder Return ("TSR") performance compared with the FTSE techMARK All-Share index ("Index") measured over the period of three years commencing 1 April 2023.  This portion of the PSP Award will:

·        not vest at all if TSR performance over the measurement period is below the mean average Index ("Initial Vesting Threshold");

·        vest in respect of 30% if the TSR performance is equal to the mean average Index price;

·        vest in full if TSR performance over the measurement period is above the mean average price growth for the FTSE techMARK All-Share index plus four percentage points ("Upper Vesting Threshold");

·        vest proportionately, calculated on a straight-line basis if TSR performance over the measurement period is greater than the Initial Vesting Threshold but less than the Upper Vesting Threshold.

(c)     30% of each PSP Award is subject to a collection of performance conditions associated with Kainos being a Responsible Company. This portion of the PSP Award will vest as follows:

·    10% of the award will vest if by 31 March 2026 35% of Senior Management Roles are held by women;

·    10% of the award will vest if by 31 March 2026 the latest available Employee Engagement score equates to 7 or better as measured though our employee engagement tool, Peakon, or such equivalent engagement measure as the Committee considers appropriate;

·    5% of the award will vest if by 31 March 2026, there is a reduction in the carbon intensity of Scope 3 greenhouse gas emissions of 45%;

·    5% of the award will vest if by 31 March 2026, the latest available customer engagement score shows positive customer satisfaction with 90% of customers scoring the Company as "Very Good" or better, being a rating of 7 or more as measured through NPS or such equivalent measure as the Committee considers appropriate.

In addition, the Company has been notified that on 20 December 2023, Mr McCann exercised share options granted in 2020 under the Company's Sharesave Plan. Mr McCann retained the ordinary shares on exercise.

Following this notification, Mr McCann and his Person Closely Association (PCA) have a reportable shareholding of 4,630 932, constituting 3.69% of the issued share capital of the Company.

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them.

 (A19 Market Abuse Regulation)

Ends

For further information, please contact:

Kainos                                                                                        via FTI Consulting LLP

Russell Sloan, Chief Executive Officer

Richard McCann, Chief Financial Officer

Investec Bank plc                                                                              +44 20 7597 5970

Patrick Robb / Ben Griffiths

FTI Consulting LLP                                                                               +44 20 3727 1000

Matt Dixon / Dwight Burden / Kwaku Aning

About Kainos

Kainos Group plc is a UK-headquartered IT provider with expertise across three divisions - Digital Services, Workday Services, and Workday Products.  

Our Digital Services division develops and supports custom digital service platforms for public sector, commercial, and healthcare customers. Our solutions transform the delivery of these services, ensuring they are secure, accessible, and cost-effective, and provide better outcomes for users. 

Our Workday Services division specialises in the deployment of Workday Inc.'s Finance, HR and Planning products to leading organisations across Europe and North America. We are one of Workday's most respected partners, experienced in complex deployment and trusted by our customers to launch, test, expand, and support their Workday systems.  

Our Workday Products division develops products that complement Workday. Our Smart product suite, including Smart Test (for automated testing), Smart Audit (for compliance monitoring), and Smart Shield (for data masking), are used by more than 400 customers globally to safeguard their Workday systems.  

Our people are central to our success. We employ more than 3,000 people in 23 countries across Europe and the Americas. 

We are listed on the London Stock Exchange (LSE: KNOS) and you can discover more about us at www.kainos.com.