International Cons Airlines Group Director/PDMR Shareholding (8947I)
December 07 2022 - 3:35AM
UK Regulatory
TIDMIAG
RNS Number : 8947I
International Cons Airlines Group
07 December 2022
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
International Consolidated Airlines Group, S.A. ("IAG" or the
"Company") hereby notifies the market of the following transactions
of which it has been notified under article 19.1 of the EU Market
Abuse Regulation ('MAR'), relating to:
-- The award of shares under the IAG Executive Share Plan (ESP)
to IAG's newly appointed General Counsel, Sarah Clements, to
compensate for loss of long term share awards at her previous
employer, on a fair and equivalent basis to those forfeited.
According to this, it was agreed to buy-out the awards in the
form of conditional shares, aligning her remuneration to the IAG
share price performance, with awards vesting in line with the
timeframes of the awards she held with her previous employer, and
subject to the terms and conditions of the ESP rules (including the
malus and clawback terms). The award has been made in two tranches,
with the first tranche vesting in February 2024 and the second
tranche in February 2025.
-- A one off award of shares under the ESP as part of the
Company's Full Potential Incentive Plan (FPIP). The award is
subject to a stretch performance target in the financial year 2024,
and will vest in 2025. The award is in line with FPIP awards made
to other key individuals at IAG.
Further information in relation to IAG share plans is in the
Company's 2021 Directors' Remuneration Report, which can be
accessed online at www.iairgroup.com .
This announcement is made in accordance with Article 19 of the
MAR.
1 Details of the person discharging managerial responsibilities
/ person closely associated
Sarah Clements
a) Name
--------------------- ----------------------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status General Counsel
--------------------- ----------------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ----------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name International Consolidated Airlines Group S.A.
--------------------- ----------------------------------------------------------
b) LEI 959800TZHQRUSH1ESL13
--------------------- ----------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
---------------------------------------------------------------------------------
a) Description
of the financial Ordinary shares of 0.10 euro each
instrument,
type of instrument
Identification ES0177542018
code
--------------------- ----------------------------------------------------------
b) Nature of 1. Award of conditional shares granted under the
the transaction IAG Executive Share Plan (ESP), vesting in two tranches:
(i) 2024, and (ii) in 2025
2. Award of conditional shares granted under the
IAG Executive Share Plan (Full Potential Incentive
Plan), vesting in 2025 (iii).
--------------------- ----------------------------------------------------------
(i) ESP
c) Price(s) Price Volume
and volume(s) --------
0 37,285
--------
(ii) ESP
Price Volume
--------
0 74,571
--------
(iii) FPIP
Price Volume
--------
0 288,447
--------
--------------------- ----------------------------------------------------------
d) Aggregated
information Price Volume
0 400,303
- Aggregated --------
volume
- Price
--------------------- ----------------------------------------------------------
e) Date of the 6 December 2022
transaction
--------------------- ----------------------------------------------------------
f) Place of Outside a trading venue
the transaction
--------------------- ----------------------------------------------------------
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END
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