Last checked at 4 Aug 2015 15:38
International Consolidated Airlines Group, S.A. (the "Company" or "IAG") discloses the following information regarding certain of its share plans pursuant to its obligations under Disclosure Rule 3.1.4(R).
Incentive Award Deferral Plan ("IADP") 2012
In accordance with IAG's remuneration policy, half of any annual incentive award is paid in deferred shares in the Company which vest after three years. In accordance with this, under the IADP, the following Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs"), who were a beneficiary of this plan in 2012, have acquired, after the settlement of income tax and national insurance contributions, ordinary shares of 0.50 euro in the capital of the Company as follows:
Name | Place and Date | Position | Number of shares released1 |
Willie Walsh | London, 3 August 2015 | Executive Director | 49,700 |
Enrique Dupuy de Lôme | London, 3 August 2015 | Executive Director | 19,752 |
Robert Boyle | London, 3 August 2015 | PDMR | 22,472 |
Ignacio de Torres | London, 3 August 2015 | PDMR | 13,496 |
Chris Haynes | London, 3 August 2015 | PDMR | 12,058 |
Julia Simpson | London, 3 August 2015 | PDMR | 9,073 |
Keith Williams | London, 3 August 2015 | PDMR | 31,108 |
1 No consideration is payable for these shares.
Under the IAG IADP, no other performance conditions apply because it is based on performance conditions already delivered in 2011.
The terms and conditions of the IAG IADP are more fully described in the IAG Annual Report and Annual Accounts for the period ending 31 December 2014 and within the Directors' Remuneration Report for 2014, which can be accessed online at IAG´s website: www.iagshares.com.
Performance Share Plan ("PSP") 2012
In accordance with the PSP rules, the share awards granted in August 2012 were tested for the performance period January 2012 to 31 December 2014. Fifty per cent of the award was subject to the achievement of the Company's Earnings Per Share (EPS) targets and fifty per cent was subject to a Total Shareholder Return (TSR) performance condition measured against the MSCI European Transportation index. The outcome of these performance conditions was that 85.3 per cent of the award has vested.
In accordance with the above, the Executive Directors and PDMRs of the Company who were beneficiaries of this plan have received, after the settlement of income tax and national insurance contributions, ordinary shares of 0.50 euro in the capital of the Company as follows:
Name | Place and Date | Position | Number of vested shares1 |
Willie Walsh | London, 3 August 2015 | Executive Director | 463,321 |
Enrique Dupuy de Lôme | London, 3 August 2015 | Executive Director | 168,480 |
Robert Boyle | London, 3 August 2015 | PDMR | 146,578 |
Ignacio de Torres | London, 3 August 2015 | PDMR | 141,523 |
Steve Gunning | London, 3 August 2015 | PDMR | 57,845 |
Chris Haynes | London, 3 August 2015 | PDMR | 77,501 |
Julia Simpson | London, 3 August 2015 | PDMR | 85,251 |
Keith Williams | London, 3 August 2015 | PDMR | 273,781 |
1 No consideration is payable for these shares.
The terms and conditions of the IAG PSP 2012 are more fully described in the IAG Annual Report and Annual Accounts for the period ending 31 December 2014 and within the Directors' Remuneration Report for 2014, which can be accessed online at IAG´s website: www.iagshares.com
4 August 2015
IAG Shareholder Services