Director/PDMR Shareholding

ZIGUP plc disclosed that seven Executive Directors/PDMRs — including CEO Martin Ward, CFO Rachel Coulson, UK&I CEO Harvey Stead, CSO Katie Tasker‑Wood, General Counsel Matthew Barton, HR Director Emma Ayton and Northgate España CEO Jorge Alarcón — were each awarded 127 ordinary £0.50 shares (Alarcón’s award as restricted stock units) under the company’s Share Incentive Plan on 5 December 2025; the grants, made outside a trading venue and disclosed under MAR, are subject to a three‑year retention period. The awards mirror grants to more than 7,500 eligible employees, signal routine long‑term alignment of management incentives with shareholders, and represent a modest issuance with no immediate price disclosed or material dilution implied.

Analysis

ZIGUP plc disclosed that seven Executive Directors and persons discharging managerial responsibilities — Martin Ward (CEO), Rachel Coulson (CFO), Harvey Stead (CEO UK&I), Katie Tasker-Wood (Chief Strategy Officer), Matthew Barton (General Counsel & Company Secretary), Emma Ayton (HR Director) and Jorge Alarcón (CEO Northgate España) — were each awarded 127 ordinary shares of £0.50 (Alarcón’s grant as 127 restricted stock units) under the Company’s Share Incentive Plan with effect from 5 December 2025. The grants are subject to a three‑year retention period under the plan rules and mirror awards made to over 7,500 eligible employees, indicating a coordinated, company‑wide compensation event rather than ad hoc insider buying.

The transactions were made outside a trading venue and disclosed in accordance with Article 19 of the Market Abuse Regulation; no cash price per share was provided and the notice lists aggregated volume per individual as 127 shares. The disclosure, combined with a neutral sentiment signal and a low market impact score, suggests the grants represent modest issuance with no immediate material dilution implied by the information released.

For investors the key takeaways are governance and alignment: the three‑year retention ties senior management incentives to multi‑year performance, reducing near‑term sell pressure, but investors should monitor subsequent filings for aggregate plan issuance, post‑vesting sales or any commentary on plan cost or dilution that could change the capital structure outlook.

Key Decisions for Investors

• Do not trade solely on this bulletin; treat the awards as a neutral-to-mildly positive governance signal and remain guided by operational and financial fundamentals
• Monitor forthcoming disclosures for aggregate share issuance under the plan and any mention of dilution or buyback offsets given the company-wide nature of the grants to >7,500 employees
• If already long, consider maintaining positions because the three-year retention enhances alignment, but only increase exposure if upcoming earnings and cash flow metrics remain supportive
• Re-evaluate positioning on any future MAR filings that disclose pricing, cumulative scheme impact or management intent to sell after vesting