20 Mar 2017 17:51
20 March 2017
These notifications are made in accordance with DR 3.1.4.R.
Vesting of shares under the 2014 Performance Share Plan (PSP)
Awards over ordinary shares of €0.0005 in Inmarsat plc under the Performance Share Plan made in March 2014 vested on 19 March 2017.
Vesting of the award was dependent on 3-year TSR vs the FTSE350 (excluding Investment Trusts) and 3-year EBITDA growth, measured over the three years to 31 December 2016 and weighed equally. A vesting outcome of 30% of the element for TSR (or 15% out of 100% of the total award) and 66% of EBITDA (or 33% out of the total award) vesting occurred and therefore 48% of the total award vested.
Mr Sukawaty received his share award when he held an executive position in the Company and the number of shares that vested was subject to a time pro rata reduction.
The PSP is not a HM Revenue & Customs approved plan and on vesting, income tax and social security deductions become payable by the individual.
The share price at which shares were sold on 20 March 2017 was £7.9206 per share. Where shares have been retained they will be added to the existing number of ordinary shares for the relevant individual.
Name | Number of shares vesting including reinvested dividends | Number of shares sold on 20 March 2017 to cover tax/NI | Number of shares retained | Total shareholding |
Andrew Sukawaty | 31,817 | 14,992 | 16,825 | 1,153,092 |
Rupert Pearce | 52,520 | 24,747 | 27,773 | 901,363 |