9 Aug 2018 16:16
9 August 2018
Royal Mail plc
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility
Long Term Incentive Plan 2015 (LTIP 2015) Vesting
On 9 August 2018, the shares vested under the Royal Mail plc (the "Company") LTIP. As a result of the Company partially achieving the performance targets relating to the LTIP 2015, the Persons Discharging Managerial Responsibility ('PDMRs') listed below received the total number of shares shown. For Executive Directors listed in the table below*, this was equivalent to 42.8 per cent of their original award, granted in July 2015.
PDMRs | No of Shares |
*Sue Whalley | 35,300 |
*Stuart Simpson | 23,409 |
Sally Ashford | 10,536 |
Jon Millidge | 33,719 |
Shane O'Riordain | 36,880 |
Mel Tomlin | 8,781 |
Also on 9 August 2018, the shares vested under the GLS LTIP 2015, and to the PDMRs listed below:
PDMR | No of Shares |
Rico Back | 50,000 |
James Rietkerk | 24,291 |
Executive Directors are expected to retain any share-based awards until they achieve a shareholding equivalent of 200 per cent of salary. All other PDMRs are required to retain a shareholding equivalent of 100 per cent of salary
Long Term Incentive Plan 2018 (LTIP 2018) Grant
On 9 August 2018, the PDMRs listed below were granted conditional share awards over ordinary shares in Royal Mail plc under the Royal Mail LTIP 2018. The number of shares awarded under the LTIP 2018 is set out in the table below, which is the maximum grant that the PDMRs are eligible for, and will only vest in full if the maximum performance condition is achieved.
PDMRs | No of Shares |
Rico Back | 140,052 |
Sue Whalley | 98,474 |
Stuart Simpson | 98,474 |
Sally Ashford | 65,649 |
Christian Herrlich | 38,295 |
Jon Millidge | 71,667 |
Shane O'Riordain | 76,591 |
Mel Tomlin | 25,165 |
The LTIP 2018 share awards will normally vest at the end of the three year performance period, once the Remuneration Committee has determined achievement against the performance condition. The earliest release date will be 9 August 2021, subject to the participant continuing to hold office or employment within the Royal Mail Group, and then be subject to a two year holding period.
In addition, a conditional share award over ordinary shares in Royal Mail plc was also granted on 9 August 2018 to James Rietkerk, under the GLS LTIP 2018. This share award will normally vest on the third anniversary of the Grant Date, subject to the achievement of performance conditions. The earliest release date will be 9 August 2021. The number of shares awarded under the GLS LTIP 2018 is listed below:
PDMR | No of Shares |
James Rietkerk | 35,256 |
No consideration was paid for the grant of the share awards.
The attached notifications, made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation, give further detail.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | 1. Rico Back 2. Sue Whalley 3. Stuart Simpson 4. Sally Ashford 5. Jon Millidge 6. Shane O'Riordain 7. Mel Tomlin 8. James Rietkerk
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| 1. Group Chief Executive Officer 2. Chief Executive Officer Post and Parcels UK 3. Chief Finance Officer 4. Chief HR Officer 5. Chief Risk and Governance Officer 6. Director of Communications 7. Chief of Staff 8. GLS 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
| Royal Mail plc | ||||
b)
| LEI
| 213800TC22U84G8Z2M70 | ||||
4
| 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
Identification code
|
Ordinary shares of 001 pence each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares pursuant to an exercise of options under the 2015 Long Term Incentive Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
| Not applicable - single transaction
| ||||
e)
| Date of the transaction
| 9 August 2018 | ||||
f)
| Place of the transaction
| London | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | 1. Rico Back 2. Sue Whalley 3. Stuart Simpson 4. Sally Ashford 5. Christian Herrlich 6. Jon Millidge 7. Shane O'Riordain 8. Mel Tomlin 9. James Rietkerk
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| 1. Group Chief Executive Officer 2. Chief Executive Officer Post and Parcels UK 3. Chief Finance Officer 4. Chief HR Officer 5. Group Chief Information Officer 6. Chief Risk and Governance Officer 7. Director of Communications 8. Chief of Staff 9. GLS 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
| Royal Mail plc | ||||
b)
| LEI
| 213800TC22U84G8Z2M70 | ||||
4
| 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
Identification code
|
Ordinary shares of 001 pence each in Royal Mail plc
GB00BDVZYZ77
| ||||
b)
| Nature of the transaction
| Grant of ordinary shares under the 2018 Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
| Not applicable - single transaction
| ||||
e)
| Date of the transaction
| 9 August 2018 | ||||
f)
| Place of the transaction
| London | ||||
Contacts:
Company Secretariat
Kulbinder Dosanjh
Phone: 020 7449 8133
Email: cosec@royalmail.com
MediaBeth Longcroft
Phone: 07435 768 549
Email: beth.longcroft@royalmail.com
Royal Mail press office out of hours: 020 3338 1007
Investor Relations
Catherine Nash
Phone: 020 7449 8183
Email: investorrelations@royalmail.com