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26 Jun 2018 14:59
Flybe Group plc
("Flybe", or the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
The Company announces that on 25 June 2018, awards over ordinary shares of 1p each in the capital of the Company ("Shares") were made under the terms of Flybe Performance Share Plan ("PSP") to directors and other persons discharging managerial responsibility as follows:
PDMR | Position | No. of Shares under award |
|
|
|
Christine Ourmieres-Widener (17/18 award) | Chief Executive Officer | 1,470,588 |
Christine Ourmieres-Widener (18/19 award) | Chief Executive Officer | 1,000,000 |
Ian Milne (17/18 award) | Chief Financial Officer | 612,745 |
Ian Milne (18/19 award) | Chief Financial Officer | 612,745 |
Catherine Ledger (17/18 award) | General Counsel & Company Secretary | 379,901 |
Catherine Ledger (18/19 award) | General Counsel & Company Secretary | 404,411 |
Peter Hauptvogel (17/18 award) | Chief Information Officer | 663,786 |
Peter Hauptvogel (18/19 award) | Chief Information Officer | 625,000 |
Roy Kinnear (18/19 award) | Chief Commercial Officer | 624,950 |
As a result of restricted dealing periods during the year, the Company was unable to fulfil the commitment to grant awards to the Executive Directors, as disclosed in the Directors' Remuneration Report for the 2017/18 financial year.
As a result in several cases, two awards have been granted to employees, covering the 2017/18 and 2018/19 financial years (as noted above).
The awards represent 1p nominal value share options which, to the extent that the awards vest, provide for Shares to be delivered to the individuals for 1p consideration per Share.
In normal circumstances, the awards will not vest (and the shares will not be transferred to the individuals) before the following times:
o 50% of the vesting shares become available on the third anniversary of the award date;
o 25% of the vesting shares become available on the fourth anniversary of the award date; and
o 25% of the vesting shares become available on the fifth anniversary of the award date.
The percentage of the shares that ultimately do vest (and are delivered to the individuals) is dependent on the satisfaction of performance criteria measured over a three-year performance period (further details of which are set out on in the Company's 2017/18 Annual Report).
Enquiries:
Flybe
Catherine Ledger Company Secretary
Tel: 01392 364 520
LEI Number: 5493005SC6523Y8KJF24
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