Director/PDMR Shareholding

Rhea-AI Summary

Shell (NYSE: SHEL) announced conditional awards of performance shares under the Shell Share Plan 2023 to multiple PDMRs on 6 February 2026. Awards include 165,975 shares to CEO Wael Sawan and grants to CFO Sinead Gorman and seven other executives, with award prices shown in GBP or EUR and transactions executed outside a trading venue.

The announcement lists volumes, currency-specific unit prices (GBP 27.745 or EUR 32.09) and totals per award, and notes that awards are subject to performance conditions and Remuneration Committee discretion.

Key Figures

CEO performance shares: 165,975 shares CEO award value: 4,604,976.38 GBP CFO performance shares: 98,677 shares +5 more

8 metrics

CEO performance shares 165,975 shares Conditional award to Wael Sawan under Shell Share Plan 2023

CEO award value 4,604,976.38 GBP Total value at price 27.745 GBP per share

CFO performance shares 98,677 shares Conditional award to Sinead Gorman, price 27.745 GBP

Trading & Supply president shares 52,443 shares Conditional award to Andrew Smith, price 32.09 EUR

Ordinary share nominal value €0.07 Nominal value of each ordinary share described in forms

Gorman award total 2,737,793.37 GBP Aggregated total for CFO conditional award

Cremers award total 1,133,996.42 EUR Aggregated total for Integrated Gas president award

Smith award total 1,682,895.87 EUR Aggregated total for Trading and Supply president award

Market Reality Check

Price: $77.90 Vol: Volume 5,495,946 is below...

normal vol

$77.90 Last Close

Volume Volume 5,495,946 is below the 20-day average of 6,537,134 (relative volume 0.84). normal

Technical Shares trade above the 200-day MA 71.89 at a price of 77.8, close to the 52-week high 79.3.

Peers on Argus

SHEL is up 3.33% while large-cap peers show smaller gains: CVX +0.88%, XOM +1.31...

1 Down

SHEL is up 3.33% while large-cap peers show smaller gains: CVX +0.88%, XOM +1.31%, TTE +0.61%, BP +0.81%, PBR +2.55%. Momentum scanner only flags BP with a -6.68% move, indicating today’s setup looks more stock-specific than part of a broad, synchronized sector rotation.

Historical Context

5 past events · Latest: Feb 06 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 06	Buyback execution	Positive	+0.9%	On- and off-market share repurchases and cancellations under ongoing buyback programme.
Feb 06	Audit tender result	Neutral	+0.9%	Board approves future appointment of PwC as external auditor from 2027.
Feb 05	Buyback execution	Positive	-5.3%	Share repurchases for cancellation across UK and European venues under buyback.
Feb 05	Buyback programme	Positive	-5.3%	Announcement of a $3.5B, three‑month share buyback for up to 400M shares.
Feb 05	Dividend declaration	Positive	-5.3%	Q4 2025 interim dividend declared with specified per-share and ADS amounts.

Pattern Detected

Recent capital return announcements (buybacks, dividend) sometimes saw negative reactions despite shareholder-friendly content, indicating occasional divergence between news tone and short-term price moves.

Recent Company History

Over recent days, Shell has focused on capital returns and governance. It announced a $3.5 billion buyback programme and a Q4 2025 interim dividend of US$0.372 per ordinary share, followed by daily buyback executions on 05–06 Feb 2026. An audit tender selected PwC as future external auditor. Today’s PDMR performance-share awards add an executive incentive update to this sequence of shareholder and governance-related actions.

Market Pulse Summary

This announcement details conditional performance-share awards granted to multiple senior executives...

Analysis

This announcement details conditional performance-share awards granted to multiple senior executives under the Shell Share Plan 2023, with specified volumes, prices and totals in GBP and EUR. It follows recent capital return actions, including buyback activity and a Q4 2025 interim dividend. Investors can monitor how such incentive structures align management with shareholder outcomes, alongside future disclosures on capital allocation and governance developments at Shell. The underlying operating performance metrics are not addressed here.

Key Terms

persons discharging managerial responsibilities, market abuse regimes, performance shares, legal entity identifier code, +1 more

5 terms

persons discharging managerial responsibilities regulatory

"each of the following Persons Discharging Managerial Responsibilities (“PDMRs”) have been made"

Persons Discharging Managerial Responsibilities are the key people in a company who make big decisions, like top managers or executives. Knowing who they are is important because their actions can influence the company’s success or failure, and they are often required to share information about their dealings to ensure transparency for investors and the public.

market abuse regimes regulatory

"in accordance with the requirements of the EU and UK Market Abuse Regimes"

Rules and enforcement systems that prevent cheating in financial markets, such as insider trading, false information, or manipulative trading practices. They matter to investors because they help keep prices fair and trustworthy—like referees and rules in a game that ensure everyone plays honestly—so markets remain efficient, reduce the risk of sudden price shocks, and protect investors from fraud and unfair advantage.

performance shares financial

"conditional award of performance shares of Shell plc under the Shell Share Plan 2023"

Performance shares are a type of company stock given to executives or employees that only become theirs if the company meets specific goals, like hitting certain profits or growth targets. They motivate leaders to work toward the company’s success, because their additional shares depend on achieving these results.

legal entity identifier code regulatory

"Legal Entity Identifier code | 21380068P1DRHMJ8KU70"

A legal entity identifier code (LEI) is a unique, standardized 20-character code that works like a passport number for companies and other organizations, letting anyone unambiguously identify who is behind a financial transaction or filing. Investors care because it improves transparency and reduces fraud or confusion—making it easier to track ownership, confirm counterparties, and comply with reporting rules, much like a clear ID speeds up background checks.

ordinary shares financial

"Description of the financial instrument | Ordinary shares of €0.07 each"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

AI-generated analysis. Not financial advice.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES IN ACCORDANCE WITH THE REQUIREMENTS OF THE EU AND UK MARKET ABUSE REGIMES
February 10, 2026
Shell plc announces that each of the following Persons Discharging Managerial Responsibilities (“PDMRs”) have been made a conditional award of performance shares of Shell plc under the Shell Share Plan 2023, subject to performance conditions determined by the Remuneration Committee and Remuneration Committee discretion, as set out below.
PDMR	Date	Share Type	Number of shares awarded
Wael Sawan	6 February 2026	SHEL (LSE)	165,975
Sinead Gorman	6 February 2026	SHEL (LSE)	98,677
Robin Mooldijk	6 February 2026	SHELL (AMS)	36,297
Philippa Bounds	6 February 2026	SHEL (LSE)	35,779
Peter Costello	6 February 2026	SHEL (LSE)	42,169
Cederic Cremers	6 February 2026	SHELL (AMS)	35,338
Machteld de Haan	6 February 2026	SHELL (AMS)	35,338
Andrew Smith	6 February 2026	SHELL (AMS)	52,443
Rachel Solway	6 February 2026	SHEL (LSE)	35,779
The Notification of Dealing Form for each PDMR can be found below.
Julie Keefe
Deputy Company Secretary
ENQUIRIES
Shell Media Relations
International, UK, European Press: +44 20 7934 5550

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Wael
Last Name(s)	Sawan
2. Reason for the notification
Position/status	Chief Executive Officer
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	GBP
Price	27.745
Volume	165,975
Total	4,604,976.38
Aggregated information
Volume	165,975
Price	27.745
Total	4,604,976.38
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Sinead
Last Name(s)	Gorman
2. Reason for the notification
Position/status	Chief Financial Officer
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	GBP
Price	27.745
Volume	98,677
Total	2,737,793.37
Aggregated information
Volume	98,677
Price	27.745
Total	2,737,793.37
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Robin
Last Name(s)	Mooldijk
2. Reason for the notification
Position/status	President, Projects & Technology
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	EUR
Price	32.09
Volume	36,297
Total	1,164,770.73
Aggregated information
Volume	36,297
Price	32.09
Total	1,164,770.73
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Philippa
Last Name(s)	Bounds
2. Reason for the notification
Position/status	Chief Legal Officer
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	GBP
Price	27.745
Volume	35,779
Total	992,688.36
Aggregated information
Volume	35,779
Price	27.745
Total	992,688.36
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Peter
Last Name(s)	Costello
2. Reason for the notification
Position/status	President, Upstream
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	GBP
Price	27.745
Volume	42,169
Total	1,169,978.91
Aggregated information
Volume	42,169
Price	27.745
Total	1,169,978.91
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Cederic
Last Name(s)	Cremers
2. Reason for the notification
Position/status	President, Integrated Gas
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	EUR
Price	32.09
Volume	35,338
Total	1,133,996.42
Aggregated information
Volume	35,338
Price	32.09
Total	1,133,996.42
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Machteld
Last Name(s)	de Haan
2. Reason for the notification
Position/status	President, Downstream, Renewables and Energy Solutions
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	EUR
Price	32.09
Volume	35,338
Total	1,133,996.42
Aggregated information
Volume	35,338
Price	32.09
Total	1,133,996.42
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Andrew
Last Name(s)	Smith
2. Reason for the notification
Position/status	President, Trading and Supply
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	EUR
Price	32.09
Volume	52,443
Total	1,682,895.87
Aggregated information
Volume	52,443
Price	32.09
Total	1,682,895.87
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

1. Details of the person discharging managerial responsibilities/person closely associated
First Name(s)	Rachel
Last Name(s)	Solway
2. Reason for the notification
Position/status	Chief Human Resources and Corporate Officer
Initial notification/ amendment	Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Shell plc
Legal Entity Identifier code	21380068P1DRHMJ8KU70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of the financial instrument	Ordinary shares of €0.07 each
Identification Code	GB00BP6MXD84
Nature of the transaction	Conditional award of performance shares of Shell plc under the Shell Share Plan 2023
Currency	GBP
Price	27.745
Volume	35,779
Total	992,688.36
Aggregated information
Volume	35,779
Price	27.745
Total	992,688.36
Date of transaction	06/02/2026
Place of transaction	Outside a trading venue

FAQ

Who received performance share awards from Shell (SHEL) on 6 February 2026?

Multiple senior executives received conditional performance share awards on 6 February 2026. According to Shell, recipients include CEO Wael Sawan, CFO Sinead Gorman and seven other PDMRs across executive roles, each granted specified share volumes under the Shell Share Plan 2023.

How many shares were awarded to Shell CEO Wael Sawan in the 2026 PDMR notification?

Wael Sawan was awarded 165,975 conditional performance shares. According to Shell, the award is priced at GBP 27.745 per share and recorded as a transaction outside a trading venue on 06/02/2026.

What price and currencies were used for the Shell (SHEL) PDMR awards on 06/02/2026?

Awards were recorded in GBP or EUR with unit prices of GBP 27.745 or EUR 32.09. According to Shell, each PDMR award lists currency, price, volume and total, with transactions executed outside a trading venue.

Are the Shell (SHEL) performance share awards conditional and who determines vesting?

Yes, the performance share awards are conditional and subject to performance conditions. According to Shell, vesting is determined by the Remuneration Committee and may include committee discretion under the Shell Share Plan 2023.

Where can investors find the transaction details for Shell (SHEL) PDMR awards dated 6 February 2026?

Transaction details are disclosed in the PDMR notification and include volumes, prices, totals and transaction venue. According to Shell, the Notification of Dealing Form for each PDMR provides the full specifics cited in the announcement.