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12 Feb 2014 08:47
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ARM Holdings plc
12 February 2014
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ARM Holdings plc (the "Company") announces that, following the strong performance of ARM against an international peer group over the last 3 years, the performance conditions under the Long Term Incentive Plan ("LTIP") were satisfied to the extent that 183.7% of the conditional awards made in 2011 (plus dividend shares) vested on 8 February 2014. Details of the number of shares vesting and of shares sold automatically in order to satisfy tax liabilities are listed below.
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In addition, shares representing 50% of annual bonus earned in respect of the financial year ended 31 December 2010 and awarded in February 2011 have been released under the Deferred Annual Bonus Plan ("DAB"). Under the DAB, 50% of bonus earned is paid in cash and 50% is compulsorily deferred into shares which vest 3 years after the award date. The relevant performance conditions were fully satisfied and matching shares have been triggered in the ratio of 2:1 in respect of these shares.
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The LTIP vesting and DAB release took effect on 8 February 2014
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Name | Total number of shares vested under the 2011 LTIP | Total number of shares vested under the 2010 DAB | Number of shares sold* to satisfy tax liabilities under the LTIP | Number of shares sold* to satisfy tax liabilities under the DAB | Total net shares received | Total resultant share- holding |
Simon Segars | 81,968 | 79,629 | 42,771 | 41,551 | 77,275 | 557,222 |
Tim Score | 117,139 | 114,195 | 55,056 | 53,672 | 122,606 | 864,824 |
Mike Muller | 81,050 | 78,703 | 38,094 | 36,991 | 84,668 | 1,425,442 |
Patricia Alsop | 55,664 | 54,009 | 26,163 | 25,385 | 58,125 | 162,150 |
Graham Budd | 67,287 | 61,727 | 31,625 | Ā 29,012 | 68,377 | 350,252 |
John Cornish | 48,936 | 46,294 | 23,000 | 21,759 | 50,471 | 95,468 |
Philip David | 55,664 | 54,009 | 26,163 | 25,385 | 58,125 | 93,405 |
Ian Drew | 56,581 | 54,009 | 26,594 | 25,385 | 58,611 | 105,663 |
Pete Hutton | 20,036 | 35,124 | 9,417 | 16,509 | 29,234Ā | 46,234 |
Tom Lantzsch | 58,844 | 59,136 | 30,705 | 30,858 | Ā 56,417Ā | 103,709 |
Dipesh Patel | 18,864 | 22,089 | 9,844 | 11,527 | 19,582Ā Ā | 89,131 |
Antonio Viana | 67,386 | 67,023 | 35,163 | 34,973 | 64,273Ā Ā | 119,079 |
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\* The price at which the tax shares sold was 905.4014 pence
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2014 LTIP and 2013 Deferred Annual Bonus ("DAB") Awards
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Also with effect from 8 February 2014 annual conditional awards were made under the LTIP and the final award of deferred shares under the DAB were made in relation to performance during the financial year ended 31 December 2013 to directors and PDMRs as follows:
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Name | Number of shares conditionally awarded under the LTIP | Total number of conditional awards now held under the LTIP | Number of deferred shares awarded under the DAB | Total number of deferred shares now held under the DAB |
Simon Segars | 107,770 Ā | 200,794 | 30,327 Ā | 85,759 |
Tim Score | 89,449 Ā | 204,760 | 33,447 Ā | 112,656 |
Mike Muller | 61,429 Ā | 140,671 | 22,501 Ā | 76,392 |
Patricia Alsop | 42,030 Ā | 96,572 | 15,395 Ā | 52,484 |
Graham Budd | 53,885 Ā | 122,299 | 20,149 Ā | 65,685 |
John Cornish | 41,852 Ā | 89,559 | 13,619 Ā | 46,321 |
Philip David | 43,108 Ā | 98,191 | 15,790 Ā | 53,314 |
Ian Drew | 43,108 Ā | 98,631 | 16,119 Ā | 54,051 |
Jennifer Duvalier | 51,729 Ā | 51,729 Ā | 6,412 Ā | 6,412 Ā |
Pete Hutton | 43,108 Ā | 74,759 | 13,701 Ā | 35,618 |
Tom Lantzsch | 43,794 Ā | 101,593 | 15,730 Ā | 55,598 |
Dipesh Patel | 45,786 Ā | 85,635 | 16,788 Ā | 36,522 |
Andrew Smith Ā | 38,364 Ā | 38,364 Ā | 0 | 0 |
Antonio Viana | 51,757 Ā | 119,822 | 19,365 Ā | 66,087 |
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The mid market closing price on 7 February 2014, being the business day prior to the date of these awards, was 896.00 pence per share.
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Under the DAB, the deferred shares and any matching shares earned (which would be subject to achievement of an EPS performance condition) will normally be released 3 years from the date of this final award. Under the LTIP, the vesting of shares conditionally awarded is subject to achievement of TSR and EPS performance conditions. 50% of the shares will normally vest 3 years from the date of award with a further 25% vesting after 4 years and the remaining 25% vesting after 5 years.
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ENDS
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