Smith & Nephew (SNN): executive share awards vest, partial sale to cover tax
Rhea-AI Filing Summary
Smith & Nephew plc reported a management share-based compensation event under its Global Share Plan 2020 and Restricted Share Plan 2024. On 12 August 2026, performance share awards granted in 2023 vested, with some shares sold solely to cover tax liabilities.
For Rohit Kashyap, President, Advanced Wound Management and Global Commercial Operations, 23,202 US$0.20 ordinary shares vested at a price of £11.096264 per share, of which 9,163 shares were sold and 14,039 shares were retained. The transaction took place on the London Stock Exchange. The company states that remaining unvested shares under the awards have lapsed.
Positive
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Negative
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Key Figures
Shares vested: 23,202 shares
Shares sold for tax: 9,163 shares
Shares retained: 14,039 shares
+2 more
5 metrics
Shares vested
23,202 shares
Performance share awards vested on 12 August 2026 for Rohit Kashyap
Shares sold for tax
9,163 shares
Portion of vested shares sold to cover tax liability
Shares retained
14,039 shares
Vested shares retained by Rohit Kashyap after tax-related sale
Transaction price
£11.096264 per share
Price used for the reported transaction, stated to six decimal places
Transaction date
12 August 2026
Date of vesting and related share sale on London Stock Exchange
Key Terms
Market Abuse Regulation, persons discharging managerial responsibilities, Performance Share Awards, dividend equivalent Shares, +1 more
5 terms
Market Abuse Regulation regulatory
"This announcement is made in accordance with the UK Market Abuse Regulation"
Market abuse regulation consists of laws and rules designed to prevent dishonest or manipulative practices in financial markets. It aims to ensure fair and transparent trading, so investors can trust that markets operate honestly, much like rules that keep a game fair. By reducing unfair advantages, it helps protect investor confidence and promotes healthy, efficient markets.
persons discharging managerial responsibilities regulatory
"transactions by persons discharging managerial responsibilities and persons closely associated"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Smith & Nephew (SNN) disclose in its 12 August 2026 Form 6-K?
Smith & Nephew disclosed the vesting of 2023 performance share awards under its Global Share Plan 2020 and Restricted Share Plan 2024, including related share sales to cover tax liabilities for a senior executive.
Which regulations governed Smith & Nephew’s (SNN) disclosure of this PDMR transaction?
The disclosure was made in accordance with the UK Market Abuse Regulation (Regulation (EU) 596/2014 as retained in UK law), which requires public reporting of transactions by persons discharging managerial responsibilities.