Last checked at 13 Jan 2015 17:43
easyJet plc ("the Company")
Director/PDMR shareholding
13 January 2015
The Company announces that on 12 January 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:
Name | Number of awards exercised | Number of Shares sold | Sale Price per Share | Number of shares retained | Total holding following transaction | % of total voting rights following transaction |
Cath Lynn | 238,213 | 112,241 | £16.2454 | 125,972 | 228,951 | 0.058% |
The total number of shares exercised consists of 166,467 LTIP performance awards granted on 31 March 2011 (the '2011 LTIP'), 114,562 LTIP performance awards granted on 4 January 2012 and 7,124 LTIP matching awards granted on 4 January 2012 (the LTIP awards granted in January 2012 together being the '2012 LTIP').
The 2011 LTIP award was granted based on a share price of £3.379. The 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 the target of 12% (if the award was the equivalent of up to 100% salary) or 13% (if the award was the equivalent of between 100% and 200% of salary). The ROCE targets were based on ROCE (excluding operating lease adjustments) for the financial year ending 30 September 2013. The Company achieved a ROCE target of 23.0% in the 2013 financial year.
The 2012 LTIP award was granted 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 Return on Capital Employed (ROCE) to achieve the target of 12% (if the award was the equivalent of up to 100% salary) or 13% (if the award was the equivalent of between 100% and 200% of salary). The ROCE 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 target 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 Rule 3.1.2R and 3.1.4R. The Company received notification of this transaction on 13 January 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 |