London Stock Exchange Group PLC Director/PDMR Shareholding (3292G)
November 19 2015 - 9:35AM
UK Regulatory
TIDMLSE
RNS Number : 3292G
London Stock Exchange Group PLC
19 November 2015
LONDON STOCK EXCHANGE GROUP PLC
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY ("PDMR") OR CONNECTED PERSONS
Acquisition of shares under the terms of the London Stock
Exchange Long Term Incentive Plan 2014 (the '2014 LTIP')
On 18 November 2015 London Stock Exchange Group plc ('the
Company') was notified that on 17 November 2015, Computershare
Trustees (Jersey) Limited, the trustee of the London Stock Exchange
Employee Benefit Trust, purchased ordinary shares of 6 79/86 pence
each in the Company ('Shares') on behalf of the PDMR noted below
who is participating in the 2014 LTIP whereby an employee purchases
Shares in the Company ('Invested Shares') and, in return, is
granted a matching award of Shares (the 'Matching Award'). The
venue of execution for the purchase of the Shares was London Stock
Exchange.
In return for the PDMR purchasing Invested Shares, the Company
has granted him a Matching Award over such number of Shares that
equals two times the number of Shares that the PDMR could have
purchased had his investment been made on a pre-tax basis. The
Matching Award, granted under the LTIP on 18 November 2015, is in
the form of a nil cost option to acquire Shares in the Company.
PDMR Number of Number of Shares conditionally
Invested Shares awarded as a nil cost option
purchased
--------------- ------------------ -------------------------------
4,423
at GBP25.46 per
Chris Corrado share 16,666
--------------- ------------------ -------------------------------
To be eligible to receive the Matching Award, the senior
executive must hold their Invested Shares and remain in employment
for a period of three years from the date of grant of the Matching
Award.
The Company also granted the senior executive a Performance
Share award under the LTIP on 18 November 2015 in the form of a nil
cost option to acquire Shares in the Company (the "Performance
Award').
PDMR Number of Shares
awarded as a nil cost option
--------------- ------------------------------
Chris Corrado 50,000
--------------- ------------------------------
To be eligible to receive the Performance Award, the senior
executive must remain in employment for a period of three years
from the date of grant of the award.
The actual number of Shares that may transfer to the senior
executive depends on the vesting of the Matching Award and the
Performance Award and is determined by the extent to which
specified corporate performance targets are satisfied over the
applicable three year performance period.
The performance targets applied to the Matching Award and the
Performance Award under the LTIP are the same as the targets
applied to awards granted to all participants of the Company's LTIP
in the 2015 financial year.
Full details of the 2014 LTIP are provided in the Directors'
Remuneration Report in the London Stock Exchange Group plc Annual
Report for the 9 months to 31 December 2014.
Additionally the Company granted a Restricted Share award
('Restricted Award'), in the form of a nil cost option to acquire
Shares in the Company, to the senior executive on 18 November 2015
under the London Stock Exchange Group Restricted Share Award Plan
2008. This award replaces the forfeited financial value of awards
made under his previous employer.
The Restricted Award will vest and transfer to the senior
executive in 5 tranches, corresponding to the vesting schedule of
compensation due from the senior executive's previous employer that
was forfeited upon him joining the Company. Each tranche will vest
automatically, subject to the executive remaining in employment, as
per below:
-- Tranche 1 30 September 2016;
-- Tranche 2 10 March 2017;
-- Tranche 3 2 October 2017;
-- Tranche 4 9 March 2018; and
-- Tranche 5 1 October 2018.
PDMR Number of Restricted Shares
awarded as a nil cost option
--------------- ------------------------------
Chris Corrado 95,488
--------------- ------------------------------
This notification relates to a disclosure made in accordance
with Disclosure Rule 3.1.4R (1) (a).
Name of contact and telephone number for queries
Lisa Condron, Company Secretary Tel: 020 7797 1000
Name and signature of duly authorised officer of issuer
responsible for making notification
Lisa Condron
Date of notification
19 November 2015
This information is provided by RNS
The company news service from the London Stock Exchange
END
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