Burberry Group PLC Director/PDMR Shareholding (4506E)
February 09 2018 - 5:35AM
UK Regulatory
TIDMBRBY
RNS Number : 4506E
Burberry Group PLC
09 February 2018
Burberry Group plc (the "Company") - Director/PDMR
Shareholdings
The Company announces that it received notification on 8
February 2018 of changes in the interests of Marco Gobbetti, Chief
Executive Officer and a director of the Company, in the Ordinary
Shares of 0.05p each in the Company ("Shares"), as set out
below.
As set out in the market announcement of 11 July 2016, the
Remuneration Committee agreed to buy out awards forfeited by Mr
Gobbetti on leaving his previous employer.
Mr Gobbetti has been granted two awards over Shares - the first
award is over 227,627 Shares with a grant value of EUR4m ("Award
1") and the second is over 51,785 Shares with a grant value of
EUR910,000 ("Award 2)".
Award 1 vested in full immediately, and Award 2 vested 33%
immediately, and will vest 33% in October 2018, 17% in October 2019
and 17% in October 2020. The second portion of Award 2 will vest
subject to continued employment only. Following shareholder
feedback, the vesting of the third and fourth portions are now also
subject to the original LVMH performance conditions being
satisfied, as well as subject to continued employment. Both of
these awards have been made in the form of nil-cost options,
including, in relation to Award 2, entitlements to dividend
equivalents.
The Company announces that, on 8 February 2018, Mr Gobbetti
exercised in full 100% of Award 1 and the 33% of Award 2 which
vested immediately and acquired 244,716 Shares. Following this
exercise, and on the same day, a total of 115,239 of these newly
acquired Shares were automatically sold on Mr Gobbetti's behalf, at
a price of GBP15.465 per Share, to fund the tax and social security
liabilities arising on the exercise.
9 February 2018
The following disclosures are made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------------
a) Name Marco Gobbetti
--- --------------------- ---------------------------------------------
2 Reason for the notification
--- --------------------------------------------------------------------
a) Position/status Chief Executive Officer
--- --------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
--- --------------------- ---------------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------
a) Name Burberry Group plc
--- --------------------- ---------------------------------------------
b) LEI 213800PE1KEFCNFR1R50
--- --------------------- ---------------------------------------------
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 Ordinary shares of 0.05 pence
of the financial each
instrument,
type of instrument
Identification GB0031743007
code
--- ----------------------- -------------------------------------------
b) Nature of Grant of nil-cost options over
the transaction 279,412 shares in connection
with recruitment to the role
of Chief Executive Officer
--- ----------------------- -------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ----------
Nil 279,412
---------- ----------
--- ----------------------- -------------------------------------------
d) Aggregated Aggregate Aggregate Aggregate
information Price Volume Total
---------- ---------- ----------
- Aggregated Nil 279,412 N/A
volume ---------- ---------- ----------
- Price
--- ----------------------- -------------------------------------------
e) Date of the 2018-02-08
transaction
--- ----------------------- -------------------------------------------
f) Place of the Outside a trading venue
transaction
--- ----------------------- -------------------------------------------
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 Ordinary shares of 0.05 pence
of the financial each
instrument,
type of instrument
Identification GB0031743007
code
--- ----------------------- -------------------------------------------
b) Nature of Exercise of nil-cost options
the transaction and subsequent acquisition of
244,716 shares
--- ----------------------- -------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ----------
Nil 244,716
---------- ----------
--- ----------------------- -------------------------------------------
d) Aggregated Aggregate Aggregate Aggregate
information Price Volume Total
---------- ---------- ----------
- Aggregated Nil 244,716 N/A
volume ---------- ---------- ----------
- Price
--- ----------------------- -------------------------------------------
e) Date of the 2018-02-08
transaction
--- ----------------------- -------------------------------------------
f) Place of the Outside a trading venue
transaction
--- ----------------------- -------------------------------------------
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 Ordinary shares of 0.05 pence
of the financial each
instrument,
type of instrument
Identification GB0031743007
code
--- ----------------------- -------------------------------------------
b) Nature of Sale of shares
the transaction
--- ----------------------- -------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------- ----------
GBP15.465 115,239
----------- ----------
--- ----------------------- -------------------------------------------
d) Aggregated Aggregate Aggregate Aggregate
information Price Volume Total
---------- ---------- ----------------
- Aggregated GBP15.465 115,239 GBP1,782,171.14
volume ---------- ---------- ----------------
- Price
--- ----------------------- -------------------------------------------
e) Date of the 2018-02-08
transaction
--- ----------------------- -------------------------------------------
f) Place of the XLON
transaction
--- ----------------------- -------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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