Sign In
15 Apr 2015 13:53
Communisis plc
('Communisis' or the 'Company')
(Symbol: CMS)
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
The notifications below are all made in accordance with DTR 3.1.4 R(1) and the dealings were all in respect of the grant of options pursuant to the Communisis Long Term Incentive Plan to acquire (for nil consideration but subject to a performance condition) ordinary shares of 25 pence each in the share capital of Communisis plc.
On 14 April 2015, each of the persons named in column 1 of the table below (the "Table") was granted the number of options stated in column 2 of the Table
The options are exercisable from 14 April 2018 to 13 April 2020.
1. The Performance Conditions subject to which the options have been granted are as follows:
1.1 20% of the options are subject to a performance condition based on growth in the Company's share price, in accordance with the following table and subject to the conditions specified in paragraphs (a) and (b):-
Share Price | % of award subject to Share Price Performance Condition vesting |
Start to Earn being 10p above Base Share Price | 25% vests |
Between STE and 90p | Straight-line vesting |
90p or more | 100% vests |
(a) the period over which the Share Price Performance Condition will be measured will be the period of three years measured from the date of grant;
(b) vesting will be based on the average share price in the final 3 months of the 3 year measurement period and the base share price will be average share price for the 3 months preceding the date of grant.
1.2 80% of the options are subject to a performance condition based on EPS performance, in accordance with the following table and subject to the conditions specified in paragraphs (a) and (b):-
Equivalent CAGR in EPS | % of award subject to EPS Performance Condition vesting |
Less than 7.5% p.a. | Nil |
7.5% p.a. | 25% vests |
Between 7.5% p.a. and 15% p.a. | Straight-line vesting |
15% p.a.or more | 100% vests |
(a) the period over which the EPS Performance Condition will be measured will be the period of three financial years 2015, 2016 and 2017;
(b) EPS will be Adjusted Basic EPS, calculated on the same basis as for the Company's accounts, (i.e.) earnings per share from continuing operations before exceptional items and amortisation of acquired intangibles and the tax effect of these items.
1.3 as an additional underpin, no shares will vest unless the Committee is satisfied as to the Company's financial performance in financial years 2015, 2016 and 2017;
Column 1 | Column 2 |
Director / PDMR | Options granted |
Andy Blundell | 615,000 |
Nigel Howes | 455,000 |
Dave Rushton | 455,000 |
Mark Stoner | 420,000 |
Laurence Bosshard | 175,000 |
Malcolm Cotton | 175,000 |
Dave Herridge | 175,000 |
Tony Commons | 175,000 |
Total | 2,645,000 |
Sarah Caddy
Company Secretary
0113 277 0202
15 April 2015
Follow the stocks
