Last checked at 26 Feb 2015 11:51
easyJet plc ("the Company")
Director/PDMR shareholding
26 February 2015
The Company announces that on 25 February 2015, the PDMR set out below exercised her award under the easyJet Long Term Incentive Plan ('LTIP') and subsequently sold and retained the resulting number of ordinary shares of 27 and 2/7 pence ('Shares') set out against her name below. The sale price per share for those exercised LTIPs which were subsequently sold was £18.112.
Name | Number of awards exercised(1) | Number of shares sold | Number of shares retained | Total holding following transaction | % of total voting rights following transaction |
Alita Benson | 110,899 | 52,254 | 58,645 | 62,178 | 0.016% |
Note 1: The awards exercised by Alita Benson consisted of 19,251 2011 LTIPs and 91,648 2012 LTIPs
The 2011 LTIP award grant on 31 March 2011 (the '2011 LTIP') was based on a share price of £3.379. The 2011 LTIP award vested on 31 March 2014 at 100% of the total award. This 100% vesting required easyJet's Return on Capital Employed (ROCE) to achieve targets of up to 13%. The targets were based on ROCE (excluding operating lease adjustments) for the financial year ending 30 September 2013. The Company achieved ROCE of 23.0% in the 2013 financial year.
The 2012 LTIP award grant on 4 January 2012 (the '2012 LTIP') was based on a share price of £3.928. The LTIP award vested on 4 January 2015 at 100% of the total award. This 100% vesting required easyJet's ROCE to achieve targets of up to 13%. The targets were based on three year average ROCE (excluding operating lease adjustments) performance for the years ended 30 September 2012, 30 September 2013 and 30 September 2014. The Company achieved an average ROCE of 22.0% for the three financial years ended 30 September 2014.
This notification is made pursuant to the requirements of the Disclosure and Transparency Rules 3.1.2R and 3.1.4R. The Company received notification of the transaction on 26 February 2015.
For further details, please contact:
Institutional investors and analysts
Will MacLaren, Investor Relations | 07961 763 879 |
Michael Barker | 07985 890 939 |
Media:
Paul Moore, Corporate Communications | 07860 794 444 |