Last checked at 17 Apr 2018 10:00
SAVILLS PLC (THE "COMPANY")
NOTIFICATION OF INTERESTS OF DIRECTORS/ PDMRs
Grant of Share Awards
The Company announces that on 16 April 2018 the grant of the share based element of 2017 profit share awards has been made under the Savills Deferred Share Bonus Plan and the Savills Deferred Share Plan (the "Deferred Share Plans") to Directors and other persons discharging managerial responsibilities ("PDMRs") as follows:-
Director/ PDMR | Number of shares subject to the Deferred Share Plans awarded to the Director / PDMR on 16 April 2018 | Resulting beneficial interest under the Deferred Share Plans |
Jeremy Helsby (Director) | 70,250 | 294,274 |
Simon Hope (PDMR) | 7,680 | 50,493 |
Chris Lee (PDMR) | 11,879 | 65,664 |
Christian Mancini (PDMR) | 8,875 | 67,222 |
Robert McKellar (PDMR) | 15,360 | 116,386 |
Justin O'Connor (PDMR) | 24,577 | 141,517 |
Mark Ridley (PDMR) | 46,492 | 211,475 |
Simon Shaw (Director) | 52,534 | 213,744 |
The Company announces that on 16 April 2018 the grant of the share based element of 2017 profit share awards has been made under The Schedule to The Savills Deferred Share Bonus Plan to PDMRs based in the United States of America as follows:-
PDMR | Number of shares subject to the Savills Deferred Share Bonus Plan awarded to the PDMR on 16 April 2018 | Resulting beneficial interest under the Savills Deferred Share Bonus Plan |
Michael Colacino (PDMR) | 9,399 | 40,464 |
Mitchell Steir (PDMR) | 7,355 | 31,630 |
All the above awards have a Deferred Period of three years and are subject to rolled-up dividend shares whereby the number of shares awarded will be increased on the vesting date to reflect final and interim dividends declared during the Deferred Period.
\* The resulting beneficial interest for Justin O'Connor (CEO, Savills Investment Management) includes an award over 55,575 shares made on 20 June 2016 under the Savills Deferred Share Plan whereby 30% of the award vests subject to continued employment in March 2019, with 70% vesting subject to the satisfaction of performance criteria relating to the financial performance of Savills Investment Management, including the performance of funds managed by Savills Investment Management, over the period to 31 December 2018.
The Company announces that on 16 April 2018 awards have been made under The Savills plc Performance Share Plan (the "Performance Share Plan") to Directors and PDMRs as follows:-
Director/ PDMR | Number of shares subject to the Performance Share Plan awarded to the Director / PDMR on 16 April 2018 | Total number of shares subject to Performance Share Plan Awards following this notification |
Jeremy Helsby (Director) | 59,190 | 265,740 |
Chris Lee (PDMR) | 23,041 | 69,983 |
Mark Ridley (PDMR) | 43,010 | 156,181 |
Simon Shaw (Director) | 45,263 | 170,629 |
The Performance Share Plan provides for the award of nil cost options or conditional awards of ordinary shares in the Company.
Awards of shares are made subject to a three-year performance period. Awards which satisfy the applicable performance criteria (as below) in the three-year performance period will then vest after an additional two-year holding period.
Awards vest subject to the satisfaction of the following performance criteria measured over the three years following grant:
(a) 50% of the initial value of an award is subject to the Company's Total Shareholder Return ('TSR') performance measured against the TSR of the FTSE Mid 250 Index (excluding investment trusts);
(b) the other 50% of the initial value of an award is subject to real (i.e. growth in excess of RPI) Group Earnings per Share ('EPS') growth performance.
Awards vest as follows:
(a) for the TSR linked part of an award, 25% (i.e. threshold) will vest if the Company's TSR matches Index performance, rising to 100% (i.e. maximum) if the Company's TSR outperforms the Index by 8% p.a., compound with sliding scale vesting between the two points; and
(b) for the EPS growth linked part of an award, 25% (i.e. threshold) will vest if the Company's real EPS growth (i.e. growth in excess of RPI) is 3% p.a., compound rising to 100% (i.e. maximum) if the Company's real (i.e. growth in excess of RPI) EPS growth is 8% p.a., compound with sliding scale vesting between the two points.
17 April 2018