Primary Health Properties awards share options to directors and PDMRs

Primary Health Properties PLC (PHP) announced on 23 September 2025 the award of nil-cost options to its directors and persons discharging managerial responsibilities (PDMRs) under the company's 2021 Long-term Incentive Plan (LTIP). These awards were approved by the remuneration committee on 25 February 2025 but deferred due to a prolonged closed period.

Mark Davies, chief executive officer, received 969,643 nil-cost options, while Richard Howell, chief financial officer, was awarded 670,438. PDMRs David Austin and Toby Newman received 137,224 and 120,421 nil-cost options, respectively. The options were calculated using an average closing middle market quotation of £0.8927 per ordinary share from 17, 18, and 19 September 2025.

These nil-cost options will vest subject to performance conditions measured over three years, concluding on 31 December 2027. The remuneration committee retains the discretion to adjust the awards downwards at vesting for malus reasons. Further details on the LTIP's operation are available in the company's 2023 Report and Accounts.