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Last checked at 
29 Mar 2010 16:19
29 March 2010
ITV plc Deferred Share Award Plan (the "DSA")
Awards made under the DSA
On 26 March 2010 a number of directors and executives of the Company were granted awards over ordinary shares of the Company under the DSA. The awards were based on the achievement of performance targets in respect of the period from 1 January 2009 to 31 December 2009.
Directors of the Company received awards in the form of restricted shares as set out below, which, under the rules of the DSA will not vest until 31 December 2010 (50%) and 31 December 2011 (50%).
|
Name |
Number of Shares
|
|
John Cresswell |
356,867 |
|
Ian Griffiths |
383,724 |
|
Rupert Howell |
262,663 |
PDMRs of the Company received awards in the form of restricted shares as set out below, which, under the rules of the DSA will not vest until 31 December 2010 (100%).
|
Name |
Number of Shares
|
|
Lee Bartlett |
273,302 |
|
Andy Doyle |
69,452 |
|
Carolyn Fairbairn |
217,223 |
|
Peter Fincham |
340,316 |
|
Andrew Garard |
140,678 |
Award vesting under the DSA
Awards are granted over ordinary shares of ITV plc under the DSA based on the achievement of performance targets. On 26 March 2010 awards previously made in respect of the 2008 financial year were exercised by Peter Fincham, a PDMR of the Company.
On 26 March 2010 the Trustee sold sufficient shares at 59.5617p per share to satisfy income tax, national insurance liabilities and costs, and the balance have been retained by Mr Fincham. Details of the transaction are set out below:
Name |
Date nil cost option Awarded |
Option exercised over shares |
Shares sold for income tax, NICs & associated costs |
Shares retained |
|
Peter Fincham |
24 April 2009 |
534,492 |
219,586 |
314,906 |
ITV Performance Share Plan (the "PSP")
On 26 March 2010 a number of directors and executives of the Company were granted nil-cost options over ITV plc ordinary shares under the PSP as follows:
Directors of the Company
|
Name |
Number of nil-cost options awarded
|
|
Ian Griffiths |
933,820 |
|
Rupert Howell |
791,001 |
PDMRs of the Company
|
Name |
Number of nil-cost options awarded
|
|
Lee Bartlett |
791,001 |
|
Andy Doyle |
351,556 |
|
Carolyn Fairbairn |
615,223 |
|
Peter Fincham |
861,312 |
|
Andrew Garard |
597,645 |
The options will become exercisable on the third anniversary of the grant of the Award, subject to the achievement of performance conditions.
75% of the Award may vest subject to the achievement of Total Shareholder Return "TSR" performance.
25% of the Award may vest subject to the achievement of strategic conditions.
Any portion of the award that does not vest on the third anniversary of the grant of the Award will lapse.
For further enquiries please contact:
ITV plc
Tel: 020 7157 3000
|
Investor enquiries |
|
|
Christy Swords |
020 7157 6572 or 07881 505783 |
|
Pippa Foulds |
020 7157 6555 or 07778 031097 |
|
Media enquiries |
|
|
Ruth Settle |
020 7157 3707 or 07946 346698 |
|
Louise Evans |
020 7157 3710 or 07825 680994 |
|
Tulchan Communications |
|
|
Andrew Grant / Susanna Voyle, Tulchan |
020 7353 4200 |
Website: www.itv.com; investor information: www.itvplc.com
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