5 Jan 2016 15:58
easyJet plc ("the Company")
Director/PDMR shareholding
The Company announces that on 4 January 2016, the following PDMR, as set out in the table below, was conditionally awarded shares under the Company's Long Term Incentive Plan (LTIP).
The share price at the time of the grants was £17.40.
AWARD OF LTIP PERFORMANCE AWARDS | |
Name | LTIP Performance Shares |
Jacqueline Simmonds | 30,287 |
The LTIP Performance Shares Awards will vest in three years' time, free of charge, on 4 January 2019, subject to continued employment and the performance conditions shown below:
ROCE (70% of total award) | Below 15% | 15% | 18% | 20% or more |
Below Threshold (0% vesting) | Threshold (25% vesting) | On-target (50% vesting) | Maximum (100% vesting) |
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Ranking of easyJet's TSR (30% of total award) | < median | Median | upper quartile |
Below Threshold (0% vesting) | Threshold (25% vesting) | Maximum (100% vesting) |
Awards vest on a straight-line basis between these points.
The Return on Capital Employed (ROCE) targets are based on average ROCE over the three year performance period (being three years from 1 October 2015).
The Total Shareholder Return (TSR) targets are based on relative TSR compared to companies ranked FTSE 31 to 130 at the start of the performance period, where the average share price is calculated over three months at the start and end of the period. In addition, in order for the TSR-based awards to vest, easyJet must have achieved positive absolute TSR performance over the performance period.
Further details relating to the operation of the LTIP can be found within the Annual report and accounts which are available on the Company's website.
This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.4R.
For further details, please contact:
Stuart Morgan, Investor Relations | +44 (0) 7961 763 879 |
Paul Moore, Corporate Communications | +44 (0) 7860 794 444 |
Anna Knowles, Corporate Communications | +44 (0) 7985 873 313 |
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easyJet (EZJ)