Last checked at 18 Feb 2014 18:15
Hargreaves Lansdown plc ("the Company")
DIRECTOR / PDMR Shareholding
18th February 2014
Notification of Transaction of Directors, Persons Discharging Managerial Responsibility ("PDMR") or Connected Persons in accordance with Disclosure Rules 3.1.4R(1)(a).
LONG TERM INCENTIVE PLAN
The Company announces that the following Directors and PDMRs were conditionally awarded ordinary shares of 0.4p each in the Company which were granted on 17th February 2014 under the Hargreaves Lansdown Unapproved Share Option Plan 2012 ("the Plan").
The awards have an exercise price of £13.29 per share and will vest (in proportion that the performance criteria have been achieved) on the date on which the Remuneration Committee determine the performance conditions have been met, which shall be no later than three months following the approval of the accounts for year ended 30 June 2016.
The options may then be exercised at the Director/ PDMR's discretion until 17th February 2020 (being the 6th anniversary of the date of grant of the award). To the extent the performance conditions are not met, the options shall lapse.
Director | Position | Number of shares over which option granted | Total number of shares over which options are held following notification | Total current shareholding (excluding options) | Total percentage shareholding (excluding options) |
Ian Gorham | Director | 50,000 | 114,109 | 442,628 | 0.09% |
Tracey Taylor | Director | 50,000 | 128,445 | 748,014 | 0.16%
|
Nigel Bence | PDMR | 50,000 | 382,927 | 189,118 | 0.04% |
Lee Gardhouse | PDMR | 50,000 | 428,889
| 749,454 | 0.16% |
Mark Dampier | PDMR | 50,000 | 229,639 | 799,262 | 0.17% |
Ian Hunter | PDMR | 50,000 | 329,246
| 556,916 | 0.12% |
Nick Marson | PDMR | 50,000 | 325,355 | 619,821 | 0.13% |
David Davies | PDMR | 50,000 | 459,109 | 3,689 | 0.001% |
Further details relating to the operation of the LTIP can be found within the Annual Report and Accounts available on the Company's website.
All options are granted at the market value of the Company shares, and therefore shareholder value must be enhanced for the Directors/ PDMRs to benefit.
ANNUAL BONUS PLAN
The following Directors/ PDMRs have also been awarded ordinary shares of 0.4p each in the Company which were granted on 17th February 2014 under the Hargreaves Lansdown Deferred Performance Bonus Plan ("the Plan").
Under the current terms of the Plan, all Directors/ PDMRs were required to defer 10% of any bonus earned for the year ended 30 June 2013 into either unapproved (nil cost) share options, or cash.
Where the Directors/ PDMRs have elected to defer into unapproved share options, the awards have an exercise price of nil pence per share and may be exercised at the Director/ PDMRs discretion from 1 July 2015 until 1 October 2016. Awards shall only vest where the director remains in employment with the group.
Director | Position | Number of shares over which option granted | Total number of shares over which options are held following notification | Total current shareholding (excluding options) | Total percentage shareholding (excluding options) |
Ian Gorham | Director | 16,865 | 130,974 | 442,628 | 0.09% |
Tracey Taylor | Director | 7,713 | 136,158 | 748,014 | 0.16%
|
Lee Gardhouse | PDMR | 5,349 | 434,238
| 749,454 | 0.16% |
Mark Dampier | PDMR | 3,659 | 233,298
| 799,262 | 0.17% |
Ian Hunter | PDMR | 8,051 | 337,297
| 556,916 | 0.12% |
Nick Marson | PDMR | 7,488 | 332,843 | 619,821 | 0.13% |
David Davies | PDMR | 4,083 | 463,192 | 3,689 | 0.001% |
Further details relating to the operation of the Deferred Performance Bonus Plan can be found within the Annual Report and Accounts available on the Company's website.
For further information contact
Judy Matthews
Company Secretary
Hargreaves Lansdown
0117 988 9880