7 Jul 2017 16:30
7 July 2017
DIXONS CARPHONE PLC
(the 'Company')
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PDMRS
Vesting of shares under The Dixons Carphone plc 2013 Share Plan (the 'Share Plan')
The Company announces that on 6 July 2017, the following director received ordinary shares of 0.1p each in the Company ('Shares') as a consequence of awards made on 20 December 2013 under the Share Plan. The Shares have been retained.
Name of Director / PDMR | Number of Shares vesting |
Andrew Harrison | 281,745 |
The performance of the plan was measured at the end of the performance period on 5 July 2017 and both the performance conditions of Absolute and Relative TSR have been met. The number of Shares awarded to the director is equivalent to the value of 60% of his share of the incentive pool created as a consequence of the award vesting. The remaining 40% of the award value will be held in cash and released after a further year.
Award under The Dixons Carphone plc Long Term Incentive Plan 2016 (the 'LTIP')
On 7 July 2017 Andrew Lawley, a PDMR of the Company, was granted an award of unrestricted shares pursuant to the Company's LTIP, which was approved by shareholders at the Company's annual general meeting last year. The share price for the award was calculated using the mid-market price on 6 July 2017.
Name of PDMR | Award Value (£) | Number of Shares received | Number of Shares sold to cover taxes and costs | Number of Shares retained net of taxes and costs | Price at which Shares were sold |
Andrew Lawley | 375,000 | 130,253 | 61,219 | 69,034 | 288p |
Surrender of Restricted Share Awards ('RSAs') and Award of LTIPs
As notified on 29 June 2017, two PDMRs of the Company were granted RSAs on 29 June 2017. The Company's approach to long-term incentives is that its most senior employees should receive performance-based LTIP awards rather than RSAs. Accordingly, on 7 July 2017 the two PDMRs surrendered the RSAs granted to them on 29 June 2017 and have now been granted performance-based LTIP awards. The PDMRs are identified in the table below:
Name of PDMR | Award Value (£) | Maximum number of Shares represented by the options granted on the date of this announcement | Exercise Price |
Feilim Mackle | 1,125,000 | 390,760 | Nil |
Andrew Lawley | 937,500 | 325,634 | Nil |
The number of Shares stated is the maximum number that could be issued to each 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 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. The Shares 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.
As at the date of this announcement, the Company has 1,155,792,865 Shares in issue.
This announcement is made in accordance with the requirements of Market Abuse Regulation Article 19.
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 | 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 | Vesting of shares pursuant to The Dixons Carphone plc 2013 Share Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 281,745 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-07-06 | |
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 | Award under The Dixons Carphone plc Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 130,253 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-07-07 | |
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 | Disposal of shares to meet income tax and national insurance obligations pursuant to a share award made under The Dixons Carphone plc Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
£2.88 | 61,219 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-07-07 | |
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 | Surrender of Restricted Share Awards granted on 29 June 2017 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 191,522 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-07-07 | |
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 | Surrender of Restricted Share Awards granted on 29 June 2017 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 159,602 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-07-07 | |
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 nil-cost options under The Dixons Carphone plc Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 390,760 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-07-07 | |
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 nil-cost options under The Dixons Carphone plc Long Term Incentive Plan 2016 | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 325,634 | ||
d) | Aggregated information | Aggregated price | Aggregated volume |
N/A (single transaction) | N/A (single transaction) | ||
e) | Date of the transaction | 2017-07-07 | |
f) | Place of the transaction | Outside a trading venue | |
- Ends -
