Last checked at 21 Nov 2012 07:00
DUNELM GROUP plc
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY AND CONNECTED PERSONS
21 November 2012
LTIP awards to Executive Directors
Conditional awards under the Company's Long-Term Incentive Plan (LTIP) have been granted on 20 November 2012 over ordinary shares in Dunelm Group plc, in the form of a nil cost option, to Nick Wharton, Chief Executive, and David Stead, Finance Director.
Will Adderley, Executive Deputy Chairman, has waived his entitlement to receive an LTIP award.
The maximum award under the LTIP is 150% of basic salary for each executive director.
The awards will vest, subject to continued employment and to the performance conditions being met, following publication of the Company's results for the year to 30 June 2015. The award is also subject to claw back in the case of mis-statement of performance to which a previous LTIP award or bonus related, miscalculation of performance conditions in previous exercised options, or gross misconduct on the part of the individual.
Using a closing mid price on 19 November 2012 of 641.5 pence, awards have been granted
as follows:
Basic salary
| 150% of basic salary | Share price | Number of shares in award | Total number of LTIP options held after this award | |
Nick Wharton | £408,000
| £612,000 | 641.5p | 95,401 | 489,085 |
David Stead
| £264,000 | £396,000 | 641.5p | 61,730 | 212,635 |
In addition to the LTIP options noted above, Nick Wharton and David Stead each have 2,493 options under the Company's Save as You Earn Option Scheme.
Name of authorised Company official responsible for making this notification:
Dawn Durrant, Company Secretary
0116 2644356