Last checked at 19 Jun 2015 15:56
easyJet plc ("the Company")
Director/PDMR shareholding
19 June 2015
The Company announces that on 19 June 2015, the following PDMRs who recently joined the Company were awarded shares under the Company's Long Term Incentive Plan (LTIP), as set out against their names in the tables below.
The share price at the time of each of the grants was £15.58.
Name | LTIP Performance Shares |
Chris Brocklesby | 27,037 |
Kyla Mullins | 20,057 |
The LTIP Performance Shares Awards will vest in three years' time, free of charge, on 19 June 2018, subject to continued employment and the performance conditions shown below:
ROCE (50% of total award) | Below 15.0% | 15.0% | 18.2% | 20.0% or more |
Below Threshold (0% vesting) | Threshold (25% vesting) | On-target (40% vesting) | Maximum (100% vesting) |
Ranking of easyJet's TSR (50% of total award) | < median | median | upper quartile |
Below Threshold (0% vesting) | Threshold (25% vesting) | Maximum (100% vesting) |
Awards vest on a straight-line basis between these points.
The Return on Capital Employed (ROCE) targets are based on average ROCE (including operating lease adjustments) over the three year performance period (being three years from 1 October 2014).
The Total Shareholder Return (TSR) targets are based on relative TSR compared to companies ranked FTSE 31 to 130 at the date of grant, where the average share price is calculated over three months at the start and end of the period. In addition, in order for the TSR-based awards to vest, easyJet must have achieved positive absolute TSR performance over the performance period.
This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.4R.
For further details, please contact:
Will MacLaren, Investor relations | +44 (0) 7961 763 879 |
Anna Knowles, Corporate communications | +44 (0) 7985 873 313 |