Domino's Pizza Group PLC Director/PDMR Shareholding (8685J)
December 22 2015 - 5:50AM
UK Regulatory
TIDMDOM
RNS Number : 8685J
Domino's Pizza Group PLC
22 December 2015
DIRECTOR/PDMR SHAREHOLDING
Domino's Pizza Group plc (the "Company") was advised today that
awards were granted by the Remuneration Committee under two of the
Company's employee share schemes on 21 December 2015 as explained
below. This grant follows the ending of the prohibited period which
had applied throughout the time while the Company was in
negotiations in relation to its German operations (the
"Transaction"), the successful conclusion of which was announced to
the market on 15 December 2015.
Deferred Share Bonus Plan ("Deferral Plan")
As shareholders are aware, bonuses payable to executive
directors are settled 2/3 in cash and 1/3 in shares, the receipt of
the latter being deferred for two years. Due to the prohibited
period explained above the Company has previously been unable to
grant an award under the Company's Deferral Plan which forms the
deferred, share-settled component of annual bonus, though the face
value of this award was explained in the 2014 annual report.
The Remuneration Committee granted an award under the Deferral
Plan on 21 December 2015 to David Wild, the CEO and a director of
the company, as follows:
Name Status Number of shares
under award
------------ --------------- -----------------
David Wild Director/PDMR 13,366
------------ --------------- -----------------
This award is structured as a nil cost option over ordinary
shares of 1.5625p and the vesting of the award and release of
shares is not subject to any further post-grant performance
condition other than continued service.
Ordinarily, the Company would have expected to make this award
on 27 February 2015, being the day following the announcement of
the Company's results for the 2014 financial year. Given the delay
caused by the prohibited period, the Remuneration Committee has
used discretions available to it under the rules of the Deferral
Plan to determine (a) that the strike price used to calculate the
number of shares comprised in the award should be the closing
mid-market quote of 730p for the Company's shares on 26 February
2015 and (b) that the Normal Vesting Date should be 27 February
2017; in each case this would have been the case if this award had
been made as originally intended.
Dividend equivalents will be payable on vesting.
No consideration was paid for the grant of the awards and no
consideration is due on the maturity of the awards.
2012 Long Term Incentive Plan
Awards were made on 21 December 2015 under this plan to a number
of employees who had inside information in relation to the
Transaction including David Wild, the CEO and a director of the
company, and one other person discharging managerial
responsibility:
Name Status Number of shares
under award
-------------- --------------- -----------------
David Wild Director/PDMR 75,893
-------------- --------------- -----------------
Simon Wallis PDMR 22,642
-------------- --------------- -----------------
The vesting of these awards, which are structured as Conditional
Awards over ordinary shares of 1.5625p in the Company, will
ordinarily occur on the third anniversary of the date of grant,
subject to the satisfaction of stretching performance conditions
and continued service. As previously explained to shareholders, the
performance conditions comprise a relative total shareholder return
component and an underlying earnings per share component, in each
case assessed over three financial years commencing with the
current financial year of the Company and measured independently of
each other.
Dividend equivalents will be payable on the number any shares
that may ultimately vest.
No consideration was paid for the grant of the awards and no
consideration is due on the maturity of the awards.
ENDS
For further information, please contact:
Domino's Pizza Group plc
Rob Bellhouse, Company Secretary (Interim)
01908 580000
Maitland
Greg Lawless, Robbie Hynes
020 7379 5151
Notes to Editors:
Domino's Pizza Group plc is the leading player in the
fast-growing pizza market and holds the exclusive master franchise
to own, operate and franchise Domino's Pizza stores in the UK,
Republic of Ireland, Switzerland, Liechtenstein and Luxembourg, and
will ultimately hold a strategic stake in a joint venture which
owns the largest pizza delivery business in Germany. The first UK
store opened in Luton in 1985 and the first Irish store opened in
1991.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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