Morgan Sindall Group PLC Director/PDMR Shareholding (0098R)
March 03 2016 - 11:30AM
UK Regulatory
TIDMMGNS
RNS Number : 0098R
Morgan Sindall Group PLC
03 March 2016
MORGAN SINDALL GROUP plc
(the "Company")
Notification of Transactions by Directors
The Morgan Sindall 2014 Long Term Incentive Plan (the Plan)
Grant of conditional share awards
On 2 March 2016, certain directors of the Company were granted
conditional share awards over ordinary shares of 5p each in the
capital of the Company ("shares") under the Morgan Sindall 2014
Long Term Incentive Plan ("the Plan").
Details of the directors and the number of shares under
conditional share awards granted to them under the Plan are set out
below:
Director Number of conditional
shares awarded
---------------- ----------------------
John Morgan 93,627
---------------- ----------------------
Steve Crummett 74,655
---------------- ----------------------
Conditional share awards will normally vest on 2 March 2019
being the third anniversary of the date of grant, subject to
continued employment with the Company and satisfaction of the
following performance conditions, which are measured over a period
of three financial years ending on 31 December 2018:
-- the number of shares under award representing 100% of the relevant director's salary will be based on the average
annual growth in earnings per share ("EPS") relative to the Retail Prices Index; and
-- the number of shares under award representing 50% of the relevant director's salary will be based on a
performance condition measuring the Company's total shareholder return ("TSR") compared with eight of its UK
listed peers.
Depending on whether or not the performance conditions are met
the directors will receive between 0% and 100% of the award.
Details of the performance conditions will be set out in the
Directors' Remuneration Report in the Company's 2015 Annual Report
(which will be published on or about 23 March 2016).
No consideration was paid for the grant of the awards.
Following the grant of the conditional share awards under the
Plan these directors maintain the following beneficial interests in
the issued share capital of the Company:
Director Beneficial % of the Total number Total number
interest issued of shares of conditional
in the share over which share awards
shares capital options are held
of the of the held
Company Company
---------------- ----------- --------- ------------- ----------------
John Morgan 4,004,352 9.04 187,380 247,994
---------------- ----------- --------- ------------- ----------------
Steve Crummett 14,615 0.03 Nil 190,959
---------------- ----------- --------- ------------- ----------------
This notification relates to transactions notified in accordance
with both Disclosure Rule 3.1.4R (1) (a) and Disclosure Rule 3.1.4R
(1) (c).
Contact:
Clare Sheridan Tel: 020 7307 9200
Company Secretary
3 March 2016
This information is provided by RNS
The company news service from the London Stock Exchange
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