Last checked at 22 Mar 2016 13:00
Intertek Group plc
Ordinary shares of £0.01 each ("Shares")
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons in accordance with DTR 3.1.4(1) R
Director/PDMR: André Lacroix
Edward Leigh
On 21 March 2016, under the terms of the Intertek 2011 Long Term Incentive Plan (the 'Plan'), André Lacroix and Edward Leigh received the following rights to acquire ordinary shares of 1p each in the Company ("Shares").
Name
|
Number of Deferred Share Awards | Number of LTIP Awards |
André Lacroix | 17,376 | 71,982 |
|
|
|
Edward Leigh | 12,425 | 25,736 |
The Deferred Share and LTIP Awards shall normally vest three (3) years from the grant date, subject to continued employment with the Intertek Group.
The LTIP Awards are further subject to the achievement of performance targets which are based 50% on EPS and 50% on TSR. The EPS target range for the awards is 4% per annum growth for threshold performance and 10% per annum growth for maximum performance. The TSR criterion is based on a comparator group of companies ranked 31 to 130 in the FTSE Index as at 31 December 2015 excluding investment trusts, banks and Intertek. The TSR target range is between 25% for median performance up to 100% for upper quartile performance.
Both awards are subject to an additional six-month retention requirement after vesting. The awards were granted on the basis of an average share price of £31.084.
No consideration was paid for the grant of the awards. No price is payable on the vesting of the awards.
Following this notification André Lacroix has a total interest under all share plans of 367,179 shares and Edward Leigh has a total interest of 88,108 shares.
For further information in respect of this announcement please contact:
Fiona Evans, Group Company Secretary +44(0) 207 396 3428
Date of notification 22 March 2016