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10 Sep 2015 13:12
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
Hays plc (the "Company")
In accordance with Disclosure and Transparency Rule 3.1, the Company hereby notifies the market of the following.
Hays plc Performance Share Plan ("PSP")
On 10 September 2015 the Remuneration Committee granted the following nil cost awards to the PDMRs listed in the table below under the Company's PSP. The number of shares the subject of each award was calculated by reference to the price of 162.20 pence per Ordinary share in the Company, being the closing middle market price on 9 September 2015.
The PSP is a performance share plan which provides participants with the conditional right, subject to performance conditions being met, to receive ordinary shares of one pence each in the Company. The awards granted in 2015 will be measured against the performance conditions over three financial years commencing 1 July 2015.
PDMR | NO. OF SHARES AWARDED UNDER PSP |
Alistair Cox* | 765,268 |
Paul Venables* | 551,757 |
Nick Cox | 264,017 |
Sholto Douglas-Home | 184,956 |
Doug Evans | 197,240 |
John Faraguna | 216,563 |
Nigel Heap | 289,428 |
Robert Potter | 188,655 |
Steve Weston | 181,109 |
* Denotes a Director of the Company.
The shares will be released to the PDMRs subject to their continued employment and the satisfaction of the following performance conditions:-
· one third based on the Group's Cumulative Earnings Per Share;
· one third based on relative Total Shareholder Return against an agreed comparator group; and
· one third based on Cumulative Cash Conversion.
One quarter of each component will vest at threshold performance, rising on a straight line basis to full vesting for maximum performance. For the TSR component one quarter of the shares will vest for median performance, with full vesting for upper quartile performance. Vesting of the TSR component is also subject to satisfactory financial performance, as determined by the Remuneration Committee.
The performance conditions are in accordance with the Remuneration Policy approved by shareholders at the Company's 2014 Annual General Meeting and apply to all PDMRs listed above. Further details on the performance conditions will be provided in the Company's 2015 Directors' Remuneration Report.
Chris Winters
Deputy Company Secretary
Hays plc
10 September 2015
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