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29 Apr 2016 15:46
The Berkeley Group Holdings plc (the "Company")
Director/PDMR Shareholding
This notification is made under Paragraph 3.1.4 of the Disclosure and Transparency Rules.
The Company announces that an award of nil-cost options over ordinary shares of the Company under a bespoke one-off arrangement known as The Berkeley Group Holdings plc Recruitment Plan (the "Plan") was made on 29 April 2016. This grant of nil-cost options has been made to satisfy a commitment entered into on the recruitment on 13 April 2015 of R J Stearn. The grant is in accordance with Berkeley's recruitment policy and the rules of the Plan.
Full details of R J Stearn's remuneration on appointment, including these awards, have previously been disclosed in the Company's 2015 Directors' Remuneration Report, which was approved by shareholders at the 2015 Annual General Meeting of the Company.
The nil-cost options vest in tranches with the main terms and conditions set out in the table below:-
Option Tranche | Grant Date | Number of Ordinary Shares subject to the Nil-Cost Option | Normal Vesting date* | Holding Period** | Exercise Period |
1 | 29 April 2016 | 16,195 | 23 May 2016 | - | Period from the relevant Vesting Date to 12 April 2025 |
2 | 29 April 2016 | 11,848 | 22 July 2016 | Vesting date to 22 July 2018 | |
3 | 29 April 2016 | 8,795 | 23 May 2017 | Vesting date to 23 May 2019 | |
4 | 29 April 2016 | 8,834 | 23 May 2018 | Vesting date to 23 May 2020 |
* If dealing restrictions apply on the normal vesting date in question, the normal vesting date shall be postponed to the first dealing day following the date on which dealing restrictions cease to apply.
** During the holding period vested nil-cost options may be exercised but the net post tax number of shares have to be retained until the end of the holding period.
29 April 2016
E A Driver
Company Secretary
01932 868555
End
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