Business Context and Reporting Period
This Form 6-K filing by Smith & Nephew plc, dated September 02, 2026, serves as a notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities (PDMR) under the UK Market Abuse Regulation. The filing details equity awards granted on September 01, 2026, to Nate Folkert, President of Orthopaedics.
Key Financial Metrics
The filing does not provide financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. It focuses exclusively on executive compensation transactions.
| Transaction Type | Recipient | Volume (Shares) | Price (£) | Date |
|---|---|---|---|---|
| Performance Share Award (2026 Plan) | Nate Folkert | 117,933 | 11.0265 | 2026-09-01 |
| Restricted Share Award (2024 Plan) | Nate Folkert | 67,164 | 11.0265 | 2026-09-01 |
Material Changes
The filing does not report material changes to the company's financial position or operations compared to prior periods. It discloses new equity grants calculated based on the average share price following the announcement of First Half results on August 04, 2026.
Guidance, Outlook, and Risks
Management Commentary: The awards are subject to specific vesting conditions. The Performance Share Award vests on March 15, 2029, contingent on performance conditions measured from January 1, 2026, to December 31, 2028. The Restricted Share Award vests in equal annual tranches over three years, subject to continued employment and satisfactory personal performance ratings.
Risks and Contingencies: The number of shares received is contingent on performance metrics and employment status. If maximum vesting is not achieved, the share count will be reduced. Dividend equivalents will be paid on vested shares.
Investor Verification Checklist
- Verify the specific performance conditions attached to the 2026 Performance Share Plan for the 2026-2028 period.
- Confirm the share price of £11.0265 used for calculation against market data from the ten days following August 04, 2026.
- Review the First Half 2026 results announced on August 04, 2026, to understand the context of the valuation.
- Monitor future filings for vesting outcomes and actual share issuance in 2027, 2028, and 2029.