Premier Foods plc Director/PDMR Shareholding (6333Y)
February 25 2013 - 12:34PM
UK Regulatory
TIDMPFD
RNS Number : 6333Y
Premier Foods plc
25 February 2013
25 February 2013
Premier Foods plc (the "Company")
Share Interests of directors and Persons Discharging Managerial
Responsibilities (PDMRs)
The following notifications are made in accordance with DR
3.1.4R(1)(a).
1) 2013 Long Term Incentive Plan
On 22 February 2013 (the "Grant Date") executive directors of
the Company were granted Performance Share Awards over ordinary
shares of 10p each in the Company under the Premier Foods Long Term
Incentive Plan (the "LTIP Plan"), as set out below.
Director Number of shares subject to options
------------- ------------------------------------
Gavin Darby 1,477,572
------------- ------------------------------------
Mark Moran 672,823
------------- ------------------------------------
Performance Share Awards are structured as nil cost options to
acquire shares for nil consideration. They will normally vest and
become exercisable under the LTIP Plan on the third anniversary of
the Grant Date and remain exercisable until the day before the
fifth anniversary of the Grant Date, subject to the participant
continuing to hold an office or employment within the group and the
achievement of two independent performance conditions, comprising a
share price based target that will apply to two-thirds of the total
number of shares held under an award and an absolute earnings per
share based target that will apply to one-third of the total number
of shares held under an award. No consideration was paid for the
grant of the Performance Share Awards and no consideration shall be
payable when a Performance Share Award is exercised.
2) Restricted Stock Plan
On 22 February 2013 the PDMRs listed in the below table were
granted awards over ordinary shares of 10p each in the Company (the
"RS Awards") under the Premier Foods Restricted Stock Plan (the "RS
Plan").
PDMR Number of shares subject to options
----------------- ------------------------------------
Brian Carlton 227,176
----------------- ------------------------------------
Ian Deste 284,960
----------------- ------------------------------------
Richard Johnson 211,081
----------------- ------------------------------------
Mark Hughes 239,616
----------------- ------------------------------------
Andrew McDonald 211,081
----------------- ------------------------------------
Bob Spooner 369,393
----------------- ------------------------------------
Mark Vickery 217,440
----------------- ------------------------------------
The RS Plan enables awards to be made to group management who
are not directors of the Company. No consideration was paid for the
grant of the RS Awards and no consideration shall be payable when
an RS Award is exercised.
3) CEO Co-investment Award
On appointment as CEO on 4 February 2013 it was agreed that
Gavin Darby would acquire shares worth 100% of salary and that the
Company would match this investment with a share award worth 200%
of salary as soon as practical following the release of the
Company's results for 2012. Mr Darby purchased 750,268 Shares on 21
February 2013 and accordingly on 22 February 2013 Mr Darby was
awarded a nil cost option (the "Co-investment Award") over a
maximum number of up to 1,477,572 ordinary shares of 10p each in
the Company.
The Co-investment Award will vest in three equal tranches on the
first, second and third anniversaries of the grant date. Each
tranche of the Co-investment Award is subject to performance
criteria agreed with the Company's Remuneration Committee and Gavin
Darby's continuing employment until the relevant vesting date. To
the extent that any tranche of the Co-investment Award does not
become exercisable then it shall lapse. The Co-investment Award
will remain exercisable until 30 June 2017. No consideration was
paid for the grant of the Co-investment Award and no consideration
shall be payable when the Co-investment Award is exercised.
Enquiries
For further information contact:
Andrew McDonald
General Counsel & Company Secretary
Tel: 01727 815850
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSSEDFWIFDSEDE
Premier Foods (LSE:PFD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Premier Foods (LSE:PFD)
Historical Stock Chart
From Jul 2023 to Jul 2024