Last checked at 18 Dec 2012 11:00
easyJet plc
Director/PDMRs shareholdings
18 December 2012
easyJet plc announces that the PDMRs below have been awarded the following shares under the easyJet Long Term Incentive Plan ('LTIP'):
Preferred Name | Surname | Grant Shares | Matching Shares | Total Shares |
Carolyn | McCall | 180,461 | 86,438 | 266,899 |
Warwick | Brady | 75,773 | 12,211 | 87,984 |
Chris | Kennedy | 83,446 | 16,878 | 100,324 |
Alita | Benson | 32,360 | 2,713 | 35,073 |
Mike | Campbell | 46,294 | - | 46,294 |
Trevor | Didcock | 39,116 | 13,478 | 52,594 |
Peter | Duffy | 39,497 | - | 39,497 |
Catherine | Lynn | 39,497 | 2,771 | 42,268 |
Paul | Moore | 32,225 | - | 32,225 |
Giles | Pemberton | 38,161 | - | 38,161 |
The share price at the time of grant was 737p.
easyJet has consulted widely with shareholders and has recently reviewed its remuneration arrangements to take account of shareholders comments and against best practise. The above shares vest in three years time, subject to the performance conditions shown below:
1. ROCE - 50% of awards to be based on the following average (lease adjusted) ROCE targets for performance in the three financial years commencing with the financial year in which the award is granted.
ROCE | Vesting % (of ROCE part of award) |
Below 12% | 0% |
12% | 25% |
16% | 100% |
Straight line vesting between performance points. | |
2. Total Shareholder Return - 50% of awards to be based on the following TSR targets, relative to organisations in the FTSE 51 to 150:
Ranking of easyJet's TSR | Vesting % (of TSR part of award) |
Below median | 0% |
Median | 25% |
Upper quartile | 100% |
Straight line vesting between performance points. | |
In addition to the above, the TSR portion will not vest unless the company has achieved positive TSR performance over the period.
For further details, please contact:
Rachel Kentleton, Investor Relations 07961 754 468
Ed Simpkins, Finsbury 07947 740 551