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Severfield PLC granted CEO Paul McNerney a conditional award of 1,843,972 ordinary shares of 2.5p under its Performance Share Plan. This award, made at a nil price on 7 January 2026, is subject to performance conditions and continued service, normally vesting in June 2028. The company released the RNS notification for this transaction on 11 March 2026 due to an administrative oversight.
| Date | 11 Mar 2026 |
| Time | 07:00:09 |
| Category | Director/PDMR dealings |
| ID | 1354W |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
Due to an administrative oversight, this notification, relating to a transaction on 7 January 2026, is being released at a later date.
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Paul McNerney |
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2 |
Reason for the notification |
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a) |
Position/status |
CEO |
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b) |
Initial notification/Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Severfield plc |
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b) |
LEI |
21380025AWPR781CY104 |
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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 |
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b) |
Nature of the transaction |
Grant of an award under the Company's Performance Share Plan as a conditional award of shares. Subject to performance conditions and continued service, the award normally vests in June 2028. The performance conditions are weighted as follows: · 50% is based on an EPS target for the year ending 31 March 2028 of 5.8 pence (threshold performance - 12.5% vests) to 7.9 pence (maximum performance - 50% vests) with linear interpolation in between. This represents a PBT range of £22m to £30m. · 20% is based on an ROCE target for the year ending 31 March 2028 of 10% (threshold performance -5% vests) to 13% (maximum performance - 20% vests) with linear interpolation in between. · 30% is based on 5 key transformational objectives relating to improved market prioritisation, manufacturing and project delivery. Certain details of the transformation programme metrics are commercially sensitive and will therefore be disclosed retrospectively at the point of vesting. |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information
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Not applicable-single transaction |
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e) |
Date of the transaction |
7/1/26 |
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f) |
Place of the transaction |
Outside a trading venue |
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Name of Company Official responsible for making notification:
Mark Sanderson, Company Secretary
Contact details: 01845 577896
Severfield plc
Severs House
Dalton Airfield Industrial Estate
Thirsk
North Yorkshire
YO7 3JN
7th January 2026