4 Jun 2018 15:19
easyJet plc ("the Company")
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Director/PDMR shareholding
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The Company announces that on 4 June 2018, the following Executive Director and PDMR as set out in the table below, were granted awards over 27 2/7 p ordinary shares in the capital of the Company under the Company's relevant Long Term Incentive Plan (LTIP).
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GRANT OF LTIP AWARDS | |
Name | Number of Shares under LTIP Awards |
Andrew Findlay (Executive Director, Chief Financial Officer) | 14,585 |
Ella Bennett (PDMR, Group People Director) | 27,129 |
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The LTIP Awards will vest and become exercisable on the third anniversary of their grant date (i.e. on 4 June 2021) subject to the grantee's continued employment and to the extent to which the average Return of Capital Employed (ROCE), total headline Earnings Per Share (EPS) and relative total shareholder return (TSR) performance conditions set for the LTIP Awards are met. These targets are identical to those set for Awards made on 19 December 2017.
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In addition, as disclosed in the Company's 2017 Annual report and accounts, as an Executive Director, Mr Findlay is required to retain the after-tax value of any shares under the LTIP award for a further two years from the vesting date (i.e. until 4 June 2023). Executive Directors are also expected to build and maintain a shareholding over a five year period following appointment which, for the Chief Financial Officer, is equivalent to at least 175% of salary.
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The LTIP Awards were granted as nil cost option awards. Further details relating to the operation of the LTIP can be found within the 2017 Annual report and accounts which are available on the Company's website.
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Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the LTIP.
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For further details, please contact:
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Stuart Morgan, Investor Relations | +44 (0) 7989 665 484 |
Michael Barker, Investor Relations | +44 (0) 7985 890 939 |
Paul Moore, Corporate Communications | +44 (0) 7860 794 444 |
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1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||||
a) | Name | Ella Bennett | ||||||
2. | Reason for the notification | |||||||
a) | Position/status | Group People Director | ||||||
b) | Initial notification/ Amendment | This is an initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | easyJet plc | ||||||
b) | LEI | 2138001S47XKWIB7TH90 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||||
a) | Description of the financial instrument, type of instrument  Identification code | Ordinary share of 27 2/7p    ISIN: GB00B7KR2P84 | ||||||
b) | Nature of the transaction | Grant of LTIP Award under the easyJet Long Term and Matching Share Plan. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied. Â | ||||||
c) | Price(s) and volume(s) | Â
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d) | Aggregated information  Aggregated volume Price |  Aggregated volume: 27,129  GBP Nil | ||||||
e) | Date of the transaction | 2018-06-04 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
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1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||||
a) | Name | Andrew Findlay | ||||||
2. | Reason for the notification | |||||||
a) | Position/status | Chief Financial Officer | ||||||
b) | Initial notification/ Amendment | This is an initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | easyJet plc | ||||||
b) | LEI | 2138001S47XKWIB7TH90 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||||
a) | Description of the financial instrument, type of instrument  Identification code | Ordinary share of 27 2/7p    ISIN: GB00B7KR2P84 | ||||||
b) | Nature of the transaction | Grant of LTIP Award under the easyJet Long Term and Matching Share Plan. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied. Â | ||||||
c) | Price(s) and volume(s) | Â
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d) | Aggregated information  Aggregated volume Price |  Aggregated volume: 14,585  GBP Nil | ||||||
e) | Date of the transaction | 2018-06-04 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
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easyJet (EZJ)