Last checked at 14 Dec 2015 12:20
WHITBREAD PLC
SENIOR EXECUTIVE SHARE AWARDS
LONG TERM INCENTIVE PLAN
Under the terms of the Long Term Incentive Plan of Whitbread PLC, on Friday 11 December 2015 conditional awards at nil cost were made to Alison Brittain and Chris Vaughan.
As previously announced on 22 May 2015, Alison Brittain is entitled to receive two awards, both to the value of 175% of base salary. The first is aligned to the performance conditions for the awards made to other employees in 2014, which will vest in April 2017 and be subject to a two-year post-vesting holding period. The second is aligned to the performance conditions for the awards made to other employees in 2015, which will vest in April 2018 and be subject to a two-year post-vesting holding period. Chris Vaughan is entitled to receive an award to the value of 100% of base salary, which is also aligned to the awards made to other employees in 2015.
The number of shares awarded has been calculated based on the average of the mid-market closing price of the Company's shares for the five dealing days preceding their first day of employment. This price was 4645.2p for Alison Brittain and 4736.0p for Chris Vaughan.
The maximum number of Whitbread PLC 76 122/153p Ordinary Shares, which each executive could potentially receive in respect of the aforementioned awards is as follows:
Alison Brittain 58,392 shares (two awards of 29,196 shares each)
Chris Vaughan 7,601 shares
Daren Lowry
Head of Secretariat & Risk Management
Tel: 01582 889346