National Express Group PLC Director/PDMR Shareholding (6203O)
May 18 2018 - 10:30AM
UK Regulatory
TIDMNEX
RNS Number : 6203O
National Express Group PLC
18 May 2018
National Express Group PLC
18 May 2018
NATIONAL EXPRESS GROUP PLC
("Company")
Notification of transactions by Persons Discharging Managerial
Responsibilities ("PDMRs")
The Company provides notification of the following transactions
effected on 17 May 2018 relating to Chris Davies, PDMR, and his
respective interests in the ordinary shares of nominal value 5p
each in the capital of the Company ("Shares") (ISIN:
GB0006215205).
The transactions arise from the exercise of a nil cost option
over certain Shares, and the immediate London market sale of the
resulting Shares acquired, which vested to Mr Davies on 10 May 2018
pursuant to the First Recruitment Incentive Award ("First RIA")
granted to him under the terms of the Company's Long-Term Incentive
Plan 2015 ("LTIP") on 10 May 2017. Further details of the First
RIA, the applicable performance conditions and the 96.7% vesting
are set out in the Company's announcement of 10 May 2018 (RNS
Number 6953N) and the Directors Remuneration Report to its 2017
Annual Report.
Name and Number Number Total Total other
position of vested of Shares beneficial interest
of PDMR Shares sold at interest held in
acquired 407.775p held in Shares following
on exercise per share Shares the transactions
of nil on 17 following (3)
cost option May the transactions
on 17 (2)
May (1)
----------------- ------------- ----------- ------------------ ------------------
Chris Davies,
Group Finance
Director 30,816 30,816 3,000 379,090
----------------- ------------- ----------- ------------------ ------------------
(1) Malus and clawback apply to the vested Shares for two years
from the date of vesting. All Shares delivered were through the
transfer of market purchased Shares from the Company's Employee
Benefit Trust.
(2) Including Shares held by connected persons.
(3) Including interests under the Company's Executive Deferred
Bonus Plan and LTIP.
Post the above transactions, Mr Davies has a residual
shareholding value (comprising his beneficially owned Shares and
the forfeitable Shares in which he has an interest under the EDBP)
which currently represents approximately 30% of the 150% of salary
value which he is required to attain over five years from the date
of his first LTIP award (ie by May 2022) under the Company's share
ownership guidelines.
The Company can confirm that Mr Davies has complied with his
obligation to notify the Financial Conduct Authority in respect of
the above transaction as is his requirement under the EU Market
Abuse Regulation.
- END -
National Express contact and telephone number for enquiries:
Michael Arnaouti, Group Company Secretary
++44 (0) 207 805 3807
Notes
Legal Entity Identifier: 213800A8IQEMY8PA5X34
Classification: 3.1 (with reference to DTR6 Annex 1R)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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