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LONDON - Mears Group PLC (LSE:MER), a UK-based provider of services to the Housing sector, has disclosed transactions by two of its Persons Discharging Managerial Responsibilities (PDMRs). On Tuesday, Chief Financial Officer Andrew Smith and Operations Director David Miles exercised share options and subsequently sold shares on Thursday.
The transactions are connected to the company’s Long Term Incentive Plan and Deferred Share Bonus Plan. Smith exercised options for 194,060 shares and sold 108,411 to cover tax obligations associated with the exercise, retaining 85,649 shares. Miles exercised options for 290,611 shares, selling 162,348 for tax purposes and keeping 128,263 shares.
Following these transactions, Smith’s total shareholding in Mears Group stands at 493,539 shares, representing 0.6% of total voting rights, while Miles holds 586,337 shares, amounting to 0.7% of the voting rights.
The shares were sold at an average price of 393 pence per Ordinary Share. The exercise price for the options was 1 pence per share, as per the terms of the incentive plans. The sale took place on the London Stock Exchange (LON:LSEG) (XLON).
Mears Group, employing over 5,000 people, focuses on managing and maintaining approximately 450,000 homes across the UK. The company emphasizes long-term solutions and invests in innovations aimed at enhancing the quality of life for residents and generating sustainable financial returns for shareholders.
The information regarding these transactions is based on a press release statement provided by Mears Group and is required to be disclosed under the EU Market Abuse Regulation.
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