29 Jun 2017 15:00
29 June 2017
Dixons Carphone plc
(the 'Company')
Long Term Incentive Plan Awards 2017
The Company announces that on 29 June 2017 it granted nil cost options awards to subscribe for up to 2,239,606 ordinary shares of 0.1 pence ('Ordinary Shares') in the Company to the Persons Discharging Managerial Responsibilities ('PDMRs'), pursuant to the Company's Dixons Carphone plc Long Term Incentive Plan 2016 (the 'LTIP 2016') approved by shareholders at the Company's annual general meeting last year. The PDMRs are identified in the table below:
Name of Director / PDMR | Base Salary for Award (£) | Award Value (£) | Maximum number of Ordinary Shares represented by the options granted on the date of this announcement | Exercise Price |
Sebastian James | 836,400 | 2,300,100 | 783,146 | Nil |
Andrew Harrison | 561,000 | 1,542,747 | 525,280 | Nil |
Humphrey Singer | 484,500 | 1,332,376 | 453,652 | Nil |
Katie Bickerstaffe | 510,000 | 1,402,500 | 477,528 | Nil |
The number of Ordinary Shares stated is the maximum number that could be issued to each Director/ PDMR upon full satisfaction of the performance conditions attaching to the awards. The arrangements are intended to align the PDMRs' interests with shareholders and the Company's strategic plan.
The number of Ordinary Shares which will vest after the three-year performance period, from 30 April 2017 to the final day of the 2019/20 financial year, will depend on continued service and the extent to which the performance conditions applicable to these awards are achieved. Executive Directors of the Company will be subject to an additional two-year holding period from the date of vesting.
The performance conditions attaching to the LTIP 2017 are based on the achievement of two equally weighted performance metrics as follows:
1) Relative Total Shareholder Return ('TSR')
· 50% of the awards will be subject to the achievement of a relative TSR performance condition, measured against the companies ranked FTSE 51- 150 over the performance period. The starting point for measurement will be 30 April 2017 and the closing point will be the final day of the 2019/20 financial year with one month averaging periods up to the beginning and end of the performance period. 25% of this portion of the award will pay out for achievement of median TSR versus the comparator group, with maximum vesting at upper quartile or above and straight-line vesting between these two points.
2) Earnings Per Share ('EPS') Growth
· 50% of the award will be measured against EPS growth over the performance period. 25% of this portion of the award will vest for growth of 7.5% in total over the three-year period, rising on a straight-line basis to full vesting for growth of 20% in total.
The Company also announces that on 29 June 2017 it granted restricted share awards at a price of 293.7p for 351,124 Ordinary Shares in the Company to two PDMRs, pursuant to the Company's LTIP 2016. No consideration was paid for the grant of the restricted share awards. The awards will normally vest on 29 June 2020, subject to the PDMRs' good performance and continued service with the Company. If vesting falls in a period when the PDMRs are prohibited from dealing in Ordinary Shares, vesting will take place on the first dealing day immediately following 29 June 2020 on which the PDMRs are permitted to deal in Ordinary Shares.
The PDMRs are identified in the table below:
Name of PDMR | Base Salary for Award (£) | Award Value (£) | Maximum number of Ordinary Shares granted on the date of this announcement |
Feilim Mackle | 450,000 | 562,500 | 191,522 |
Andrew Lawley | 375,000 | 468,751 | 159,602 |
As at the date of this announcement, the Company has 1,153,358,180 Ordinary Shares in issue.
This announcement is made in accordance with the requirements of DTR3.1.2G, Market Abuse Regulation Article 19 and section 793 of the Companies Act 2006.
For further information:
Nigel Paterson Company Secretary and General Counsel +44 (0)203 110 4411
Kate Ferry IR, PR and Corporate Affairs Director +44 (0)7748 933 206
PDMR DEALING NOTIFICATION | |||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Sebastian James | |
2 | Reason for the notification | ||
a) | Position / status | Group Chief Executive | |
b) | Initial notification / Amendment | Initial notification | |
3 | Details of issuer | ||
a) | Name | Dixons Carphone plc | |
b) | LEI | 2138001E12GWLLDQQF16 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares in Dixons Carphone plc | |
Identification code | GB00B4Y7R145 | ||
b) | Nature of the transaction | Grant of options under the Company's Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 783,146 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-06-29 | |
f) | Place of the transaction | Outside a trading venue | |
PDMR DEALING NOTIFICATION | |||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Andrew Harrison | |
2 | Reason for the notification | ||
a) | Position / status | Deputy Chief Executive | |
b) | Initial notification / Amendment | Initial notification | |
3 | Details of issuer | ||
a) | Name | Dixons Carphone plc | |
b) | LEI | 2138001E12GWLLDQQF16 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares in Dixons Carphone plc | |
Identification code | GB00B4Y7R145 | ||
b) | Nature of the transaction | Grant of options under the Company's Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 525,280 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-06-29 | |
f) | Place of the transaction | Outside a trading venue | |
PDMR DEALING NOTIFICATION | |||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Humphrey Singer | |
2 | Reason for the notification | ||
a) | Position / status | Group Finance Director | |
b) | Initial notification / Amendment | Initial notification | |
3 | Details of issuer | ||
a) | Name | Dixons Carphone plc | |
b) | LEI | 2138001E12GWLLDQQF16 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares in Dixons Carphone plc | |
Identification code | GB00B4Y7R145 | ||
b) | Nature of the transaction | Grant of options under the Company's Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 453,652 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-06-29 | |
f) | Place of the transaction | Outside a trading venue | |
PDMR DEALING NOTIFICATION | |||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Katie Bickerstaffe | |
2 | Reason for the notification | ||
a) | Position / status | Chief Executive, UK & Ireland | |
b) | Initial notification / Amendment | Initial notification | |
3 | Details of issuer | ||
a) | Name | Dixons Carphone plc | |
b) | LEI | 2138001E12GWLLDQQF16 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares in Dixons Carphone plc | |
Identification code | GB00B4Y7R145 | ||
b) | Nature of the transaction | Grant of options under the Company's Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 477,528 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-06-29 | |
f) | Place of the transaction | Outside a trading venue | |
PDMR DEALING NOTIFICATION | |||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Feilim Mackle | |
2 | Reason for the notification | ||
a) | Position / status | CEO Services | |
b) | Initial notification / Amendment | Initial notification | |
3 | Details of issuer | ||
a) | Name | Dixons Carphone plc | |
b) | LEI | 2138001E12GWLLDQQF16 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares in Dixons Carphone plc | |
Identification code | GB00B4Y7R145 | ||
b) | Nature of the transaction | Grant of restricted share awards under the Company's Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
£2.94 | 191,522 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-06-29 | |
f) | Place of the transaction | Outside a trading venue | |
PDMR DEALING NOTIFICATION | |||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Andrew Lawley | |
2 | Reason for the notification | ||
a) | Position / status | Group Strategy Director | |
b) | Initial notification / Amendment | Initial notification | |
3 | Details of issuer | ||
a) | Name | Dixons Carphone plc | |
b) | LEI | 2138001E12GWLLDQQF16 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares in Dixons Carphone plc | |
Identification code | GB00B4Y7R145 | ||
b) | Nature of the transaction | Grant of restricted share awards under the Company's Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
£2.94 | 159,602 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-06-29 | |
f) | Place of the transaction | Outside a trading venue | |
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