Flybe Group PLC Director/PDMR Shareholding (5729U)
July 30 2015 - 6:50AM
UK Regulatory
TIDMFLYB
RNS Number : 5729U
Flybe Group PLC
30 July 2015
Flybe Group plc
Notification of transactions by Directors/PDMRs
In accordance with Disclosure and Transparency Rule 3.1.4R(1),
Flybe Group plc ("Company") announces that on 29 July 2015, awards
over ordinary shares of 1p each in the capital of the Company were
made under the terms of Flybe Performance Share Plan ("PSP") to
directors and other persons discharging managerial responsibility
as follows:
Director/PDMR Number of shares under
award
Saad Hammad 712,374
Philip de Klerk 477,653
Louca Farajallah 251,396
Matthew Bennett 145,418
The awards represent 1p par value options which, to the extent
that the awards vest, provide for shares to be delivered to the
individuals for 1p consideration per share.
In normal circumstances, the awards will not vest (and the
shares will not be transferred to the individuals) before the
following times:
o 50% of the vesting shares become available on 28 July 2018
(the third anniversary of the award date);
o 25% of the vesting shares become available on 28 July 2019
(the fourth anniversary of the award date); and
o 25% of the vesting shares become available on 28 July 2020
(the fifth anniversary of the award date)
The percentage of the shares that ultimately do vest (and are
delivered to the individuals) is dependent on the satisfaction of
performance criteria measured over a three-year performance period
ending on 31 March 2018 (further details of which are set out on
page 68 of the Company's 2014/15 Annual Report):
(a) 50% of the shares under each award will vest subject to the
satisfaction of a performance condition based on the Company's
reported adjusted EPS in FY 2017/18 (subject to such adjustments as
the Committee considers appropriate); and
(b) 50% of the shares under each award will vest subject to the
satisfaction of a performance condition based on the Company's
total shareholder return over a period of 3 years until 31 March
2018 (as compared to a comparator group comprising the FTSE
SmallCap excluding Investment Trusts).
Additionally, no part of an award will vest unless the
Remuneration Committee is satisfied regarding underpin performance
conditions relating to safety and progress in resolving outstanding
legacy issues.
30 July 2015
Enquiries:
Flybe
Kevin Bodley Company Secretary
Tel: 01392 366669
This information is provided by RNS
The company news service from the London Stock Exchange
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