Last checked at 26 Jan 2017 14:00
26 January 2017
J Sainsbury plc
Director/PDMR Shareholding
J Sainsbury plc (the Company) announces that Kevin O'Byrne was granted today a core award under the J Sainsbury plc Long Term Incentive Plan 2016 (Future Builder award) as a nil cost option over 119,915 ordinary shares of 284/7 pence each in the Company (Shares). The number of Shares has been calculated using the average closing share price over the five days prior to the date of grant.
This award is to compensate Mr O'Byrne for remuneration arrangements he forfeited on leaving his previous employment and is in line with the Company's shareholder approved Directors' Remuneration Policy. The Remuneration Committee is comfortable that the quantum is of commensurate value with the arrangements forfeited on joining the Company.
The award is subject to performance conditions measured over three financial years and is subject to the same terms as other participants. The award will normally vest in two tranches, 50% in May 2019 and 50% in May 2020, subject to the achievement of the performance conditions. Should maximum vesting be achieved, Mr O'Byrne will receive four times the number of Shares granted under the core award.
Dividend equivalents will be payable in respect of vested Shares.
The Notification of Dealing Form can be found below.
This notification is made in accordance with the requirements of the Market Abuse Regulation.
Enquiries:
Investor Relations Enquiries Media Enquiries
James Collins +44 (0) 20 7695 0080 Louise Evans +44 (0) 20 7695 7295
Notification of dealing form
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||
a) | Name | Kevin O'Byrne | |||||||
2 | Reason for the notification | ||||||||
a) | Position/status | Chief Financial Officer
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b) | Initial notification /Amendment | Initial notification | |||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
a) | Name | J Sainsbury plc | |||||||
b) | LEI | 213800VGZAAJIKJ9Y484 | |||||||
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 284/7 pence each
GB00B019KW72 | |||||||
b) | Nature of the transaction | Acceptance of a nil-cost option granted under the J Sainsbury plc Long Term Incentive Plan 2016 | |||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
- Aggregated volume
- Price
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e) | Date of the transaction | 2017-01-26 (UTC)
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f) | Place of the transaction | XLON | |||||||