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/Equities/AIMX/POLR/RNS

Director/PDMR Shareholding

RNS Number : 9417F

Polar Capital Holdings PLC

13 July 2023

13 July 2022

Polar Capital Holdings plc ("Polar Capital" or the "Company")

Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

Long Term Incentive Plan Awards - Performance Conditions

On 10 July 2020 Gavin Rochussen, Alexander Black and Iain Evans were granted awards under the Long Term Incentive Plan ("LTIP"), as part of the Company's Equity Incentive Plan. Details of the original grant are contained in RNS No. 7115S.

The terms of the LTIP award provide for vesting on the third anniversary of grant. The vesting of the awards was subject to continued employment and performance targets. Upon vesting the shares would be released in equal tranches on the third, fourth and fifth anniversaries of grant. The third anniversary of this award was on 10 July 2023.

The performance targets have been considered by the Remuneration Committee, and it was determined that a 62% vesting of the 2020 LTIP Award should be made. Full details of the performance targets of the Award are available in the Remuneration Committee Report of the 2023 Annual Report and Accounts.

Long Term Incentive Plan Awards - No Performance Conditions

On 10 July 2020, Samir Ayub and Nicholas Farren were granted conditional awards as part of the Long Term Incentive Plan ("LTIP"), as part of the Company's Equity Incentive Plan, details of which are contained in RNS No. 7117S.

The terms of the LTIP award provide for vesting on the third anniversary of grant. The vesting of the awards was subject to continued employment. Upon vesting the shares would be released in equal tranches on the third, fourth and fifth anniversaries of grant. The third anniversary of this award was also on 10 July 2023.

On the vesting date there will be a sale of sufficient shares to cover tax liabilities and the remaining shares will be retained under the holding period. These awards have been satisfied by the release of shares from the Employee Benefit Trust to the participants, who have established nominee accounts with the EBT for the retention of the shares during the holding period.

The following table provides details of the vesting and release schedule of the awards:

Name	Title	Vesting 2020 LTIP	Shares sold to cover Tax & NIC	Shares released on 10 July 2023 (1^st Release Date)	Shares released on 10 July 2024 (2^nd Release Date)	Shares released on 10 July 2025 (3^rd Release Date)
Gavin Rochussen	Chief Executive Officer	131,155	71,598	19,852	19,852	19,853
Samir Ayub	Finance Director	24,566	13,411	3,718	3,718	3,719
Alexander Black	Chief Investment Officer	65,557	35,788	9,923	9,923	9,923
Iain Evans	Global Head of Distribution	65,557	35,788	9,923	9,923	9,923
Nicholas Farren	Chief Operating Officer	24,566	13,411	3,718	3,718	3,719

Details of the vesting and sale of shares for each PDMR is provided below:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on the vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	131,155

d)	Aggregated information	Single transaction as in 4 c) above

e)	Date of the transaction	10-07-2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Rochussen
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Sale of shares of the Company on vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			455.5623p	71,598

d)	Aggregated information	Single transaction as in 4 c) above

e)	Date of the transaction	12-07-2023
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Samir Ayub
2	Reason for the notification
a)	Position/status	Finance Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on the vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	24,566

d)	Aggregated information	Single transaction as in 4 c) above

e)	Date of the transaction	10-07-2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Samir Ayub
2	Reason for the notification
a)	Position/status	Finance Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Sale of shares of the Company on vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			455.5623p	13,411

d)	Aggregated information	Single transaction as in 4 c) above

e)	Date of the transaction	12-07-2023
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alexander Black
2	Reason for the notification
a)	Position/status	Chief Investment Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on the vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	65,557

e)	Date of the transaction	10-07-2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alexander Black
2	Reason for the notification
a)	Position/status	Chief Investment Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Sale of shares of the Company on vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			455.5623p	35,788

d)	Aggregated information	Single transaction as in 4 c) above

e)	Date of the transaction	12-07-2023
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Iain Evans
2	Reason for the notification
a)	Position/status	Global Head of Distribution
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on the vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	65,557

e)	Date of the transaction	10-07-2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Iain Evans
2	Reason for the notification
a)	Position/status	Global Head of Distribution
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Sale of shares of the Company on vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			455.5623p	35,788

d)	Aggregated information	Single transaction as in 4 c) above

e)	Date of the transaction	12-07-2023
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicholas Farren
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Acquisition of an interest in the shares of the Company on the vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	24,566

e)	Date of the transaction	10-07-2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicholas Farren
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Polar Capital Holdings plc
b)	LEI	549300OXX7YE1947B825
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
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 2.5p each

	Identification code	GB00B1GCLT25

b)	Nature of the transaction	Sale of shares of the Company on vesting of the 2020 LTIP Award
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			455.5623p	13,411

d)	Aggregated information	Single transaction as in 4 c) above

e)	Date of the transaction	12-07-2023
f)	Place of the transaction	London Stock Exchange, AIM

Enquiries:

Polar Capital +44 (0)20 7227 2700

Gavin Rochussen (Chief Executive)

Samir Ayub (Finance Director)

Numis Securities Limited - Nomad and Joint Broker +44 (0)20 7260 1000

Giles Rolls

Charles Farquhar

Stephen Westgate

Peel Hunt LLP - Joint Broker +44 (0)20 3597 8680

Andrew Buchanan

Camarco +44 (0)20 7757 4995

Ed Gascoigne-Pees

Jennifer Renwick

Phoebe Pugh

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Director/PDMR Shareholding - Polar Capital Holdings PLC | RNS | Ticker