TIDMBT.A
RNS Number : 8827C
BT Group PLC
20 June 2019
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY OR PERSONS CLOSELY ASSOCIATED WITH
THEM
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
LONG-TERM INCENTIVE PLAN TARGETS
As reported in BT's Annual Report 2019 (published on 23 May
2019), the Remuneration Committee delayed setting the 2019
Incentive Share Plan (ISP) targets to ensure they align and support
the delivery of BT's strategy under our Chief Executive's
stewardship. The performance measures and targets have now been set
by the Remuneration Committee.
The ISP is a conditional share award. The performance measures
relative to the 2019 ISP award will be based 20% on the percentage
change in underlying revenue (including transit), 40% on normalised
free cash flow and 40% on relative total shareholder return (TSR).
These are the same performance measures and weightings that have
been used in recent years, except revenue now includes transit to
align with how we now report performance to investors. Performance
will be measured over a three-year performance period from 1 April
2019 to 31 March 2022.
When setting the targets, the Remuneration Committee considered
a number of factors including the annual budget, the medium-term
plan and consensus at the time. The Remuneration Committee believes
the performance ranges for free cash flow and revenue are
appropriately stretching and deliver a fair and motivating
incentive for executives. The targets are set to foster long-term
sustainable performance without encouraging inappropriate
risk-taking or discouraging investment.
The table below sets out the target ranges for the normalised
free cash flow and underlying revenue growth (including transit).
Vesting levels between threshold and maximum will be on a
straight-line basis.
Measure 2019/20-2021/22 Threshold Level of vesting Maximum Level of vesting
Cumulative
normalised
free cash
flow GBP5.9bn 25% GBP7.2bn 100%
---------- ----------------- --------- -----------------
Cumulative
Percentage
Change in
underlying
revenue (including
transit) (1.0%) 25% 2% 100%
---------- ----------------- --------- -----------------
Relative TSR will be measured in the same way as in recent
years. Sky has been removed from the comparator group given its
acquisition by Comcast Inc. The relative TSR comparator group for
the 2019 ISP award is as follows:
TSR Comparator Group
Centrica Orange Telecom Italia
--------- ----------------
Deutsche Telekom Proximus Telefónica
--------- ----------------
KPN SSE Telenor
--------- ----------------
Liberty Global Swisscom Telia Company
--------- ----------------
National Grid TalkTalk Vodafone
--------- ----------------
The table below summarises the potential vesting of the TSR
element of the 2019 ISP.
TSR position Proportion vesting Proportion vesting
(of TSR part of the (of overall award)
award)
1-4 100% 40%
--------------------- --------------------
5 95% 38%
--------------------- --------------------
6 75% 30%
--------------------- --------------------
7 55% 22%
--------------------- --------------------
8 35% 14%
--------------------- --------------------
9-16 0% 0%
--------------------- --------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name PHILIP JANSEN
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status CHIEF EXECUTIVE
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 2,120,993 (ISP)
----------------
GBP2.07 59,387(DBP)
----------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 2,180,380 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name SIMON LOWTH
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status CHIEF FINANCIAL OFFICER
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP)
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 1,240,796 (ISP)
----------------
GBP2.07 157,715 (DBP)
----------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 1,398,511 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name MARC ALLERA
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status CEO CONSUMER
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 845,986 (ISP)
--------------
GBP2.07 104,563 (DBP)
--------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 950,549 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name BAS BURGER
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status CEO GLOBAL
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 759,219 (ISP)
--------------
GBP2.07 93,839 (DBP)
--------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 853,058 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name SABINE CHALMERS
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status GROUP GENERAL COUNSEL
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 518,799 (ISP)
--------------
GBP2.07 73,694 (DBP)
--------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 592,493 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name GERRY McQUADE
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status CEO ENTERPRISE
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 773,680 (ISP)
--------------
GBP2.07 90,365 (DBP)
--------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 864,045 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name ED PETTER
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status GROUP CORPORATE AFFAIRS DIRECTOR
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 445,890 (ISP)
--------------
GBP2.07 64,921(DBP)
--------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 510,811 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name CATHRYN ROSS
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status GROUP DIRECTOR, REGULATORY AFFAIRS
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 335,984 (ISP)
--------------
GBP2.07 47,726 (DBP)
--------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 383,710 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name MICHAEL SHERMAN
--------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status CHIEF STRATEGY AND TRANSFORMATION
OFFICER
--------------------------- --------------------------------------
b) Initial notification INITIAL
/Amendment
--------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
--------------------------- --------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
--------------------------- --------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
--------------------------- --------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND THE
BT GROUP DEFERRED BONUS PLAN (DBP).
--------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 644,793 (ISP)
--------------
GBP2.07 83,959 (DBP)
--------------
--------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume 728,752 shares
- Price GBP2.07
--------------------------- --------------------------------------
e) Date of the transaction 19 JUNE 2019
--------------------------- --------------------------------------
f) Place of the transaction LONDON
--------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name HOWARD WATSON
--------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status CEO TECHNOLOGY, SERVICE & OPERATIONS
--------------------------- --------------------------------------
b) Initial notification INITIAL
/Amendment
--------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
--------------------------- --------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
--------------------------- --------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
--------------------------- --------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
--------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 574,385 (ISP)
--------------
GBP2.07 81,590 (DBP)
--------------
--------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume 655,975 shares
- Price GBP2.07
--------------------------- --------------------------------------
e) Date of the transaction 19 JUNE 2019
--------------------------- --------------------------------------
f) Place of the transaction LONDON
--------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name ALISON WILCOX
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status GROUP HR DIRECTOR
---------------------------- -------------------------------------
b) Initial notification INITIAL
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name BT GROUP PLC
---------------------------- -------------------------------------
b) LEI 213800 LRO7NS5CYQMN21
---------------------------- -------------------------------------
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 ORDINARY SHARES IN BT GROUP PLC OF
financial instrument, 5P EACH
type of instrument ISIN: GB0030913577
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction GRANT OF AWARD UNDER THE BT GROUP
INCENTIVE SHARE PLAN (ISP) AND BT
GROUP DEFERRED BONUS PLAN (DBP).
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP2.07 586,738 (ISP)
--------------
GBP2.07 83,345 (DBP)
--------------
---------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 670,083 shares
- Price GBP2.07
---------------------------- -------------------------------------
e) Date of the transaction 19 JUNE 2019
---------------------------- -------------------------------------
f) Place of the transaction LONDON
---------------------------- -------------------------------------
Enquiries
Press office:
Tom Engel Tel: 020 7356 5369
Investor relations:
Mark Lidiard Tel: 020 7356 4909
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHPGUAGQUPBURU
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June 20, 2019 05:00 ET (09:00 GMT)
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