26 Mar 2019 11:16
26 March 2019
Inmarsat plc
(the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Awards over ordinary shares of €0.0005 in Inmarsat plc under the Performance Share Plan ("PSA") made on 23 March 2016 vested on 25 March 2019 being the closest date to the third anniversary of the date of grant.
Vesting of the award was dependent on performance for TSR, EBITDA and strategic objectives, weighted 30%, 30% and 40% respectively of the total award. The performance targets for EBITDA growth and TSR performance were not met; there was part vesting for the strategic objectives being achieved. Full details of the vesting will be contained in the Company's 2018 Annual Report.
The PSA is not a HM Revenue & Customs approved plan and on vesting, income tax and social security deductions become payable by the individual.
Name | Number of shares vesting including reinvested dividends | Number of shares sold on 25 March 2019 to cover tax / NI | Number of shares retained | Total shareholding |
Rupert Pearce | 19,444 | 9162
| 10,282
| 1,065,057
|
Tony Bates | 15,077 | 7,105 | 7,972 | 176,127
|
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Rupert Pearce | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Inmarsat plc | |||
b)
| LEI
| 213800QU7UAKT6KMRF41 | |||
4.1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary Shares | |||
Identification code | GB00B09LSH68
| ||||
| |||||
b)
| Nature of the transaction
| Share Acquisition through vesting of Performance Share Award | |||
c)
| Price(s) and volume(s) |
|
|
|
|
| Price(s) | Volume(s) |
| ||
| GBP 0.00 | 19,444 |
| ||
|
|
|
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 19,444 | ||||
- Price | GBP 0.00 | ||||
e)
| Date of the transaction
| 25 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
4.2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary Shares | |||
Identification code | GB00B09LSH68
| ||||
| |||||
b)
| Nature of the transaction
| Share disposal to cover tax and NI on vesting of Performance Share Award | |||
c)
| Price(s) and volume(s) |
|
|
|
|
| Price(s) | Volume(s) |
| ||
| GBP |
|
| ||
| 5.414 | 9,162 |
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 9,162 | ||||
- Price | GBP 49,603.07 | ||||
e)
| Date of the transaction
| 25 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Tony Bates | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Inmarsat plc | |||
b)
| LEI
| 213800QU7UAKT6KMRF41 | |||
4.1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary Shares | |||
Identification code | GB00B09LSH68
| ||||
| |||||
b)
| Nature of the transaction
| Share Acquisition through vesting of Performance Share Award | |||
c)
| Price(s) and volume(s) |
|
|
|
|
| Price(s) | Volume(s) |
| ||
| GBP 0.00 | 15,077 |
| ||
|
|
|
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 15,077 | ||||
- Price | GBP 0.00 | ||||
e)
| Date of the transaction
| 25 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
4.2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary Shares | |||
Identification code | GB00B09LSH68
| ||||
| |||||
b)
| Nature of the transaction
| Share disposal to cover tax and NI on vesting of Performance Share Award | |||
c)
| Price(s) and volume(s) |
|
|
|
|
| Price(s) | Volume(s) |
| ||
| GBP |
|
| ||
| 5.414 | 7,105 |
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 7,105 | ||||
- Price | GBP 38,466.47
| ||||
e)
| Date of the transaction
| 25 March 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||