1. Conditional grant of Ordinary Shares on terms equivalent to the Company's Restricted Share Plan
British Land Co PLC
16 September 2026
The British Land Company PLC (the 'Company')
Joanne McNamara - Share Awards
Further to the announcement made by the Company on 2 June 2026, and upon the commencement of employment of Joanne McNamara as Chief Executive Officer, the Company has granted the below share awards (the 'Awards').
In order to replace cash-based long term incentive awards made by Joanne's previous employer, which were forfeited by her when she agreed to join the Company, on 14 June 2026 the Company made:
· A conditional grant of 248,262 Ordinary Shares of 25p each of the Company on terms equivalent to the Company's Restricted Share Plan which will vest in February 2027; and
· Two separate conditional grants in respect of 496,524 Ordinary Shares of 25p each of the Company, on terms equivalent to the Company's Long Term Incentive Plan. The vesting of these awards is subject to the achievement, of specified performance conditions consistent with awards granted to Executive Directors under the Company's Long Term Incentive Plan in 2025 and 2026, respectively and will vest in May 2028 and May 2029.
In addition, and to align Joanne's incentive arrangements with those members of the Company's Executive Committee, on 15 September 2026 the Company granted a Performance Share Award in respect of 453,713 Ordinary Shares of 25p under the Company's Long Term Incentive Plan. The vesting of this Award will be in September 2029 subject to the achievement of specified performance conditions consistent with awards granted to Executive Directors under the Company's Long Term Incentive Plan in 2026.
Malus and clawback provisions apply to each of the Awards and the Award granted on 15 September shall also be subject to a holding period consistent with other awards to Executive Directors.
Full details of the vesting dates and vesting conditions (including performance conditions, where applicable) attached to the Awards will be set out in the 2027 Directors Remuneration Report. Details required under the UK Market Abuse Regulation are contained within the table below.
|
Enquiries |
|
|
Company Secretariat |
0207 486 4466 |
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|
|
a) |
Name |
Joanne McNamara |
|
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 |
The British Land Company PLC |
|
b) |
LEI |
RV5B68J2GV3QGMRPW209 |
|
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 financial instrument, type of financial instrument Identification code |
Ordinary shares of 25 pence each GB0001367019 |
|
b) |
Nature of the transaction |
1. Conditional grant of Ordinary Shares on terms equivalent to the Company's Restricted Share Plan 2. Conditional grants of Ordinary Shares on terms equivalent to the Company's Long Term Incentive Plan 3. Grant of Performance Share Award in respect of Ordinary Shares under the Company's Long Term Incentive Plan |
|
c) |
Price(s) and volume(s) |
1. 248,262 at nil cost 2. 993,048 at nil cost 3. 453,713 at nil cost |
|
d) |
Aggregated information - Aggregated volume - Price |
1,695,023 Nil |
|
e) |
Date of the transaction |
1. 14 September 2026 2. 14 September 2026 3. 15 September 2026 |
|
f) |
Place of the transaction |
Outside of a trading venue. |
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