TIDMNEX

RNS Number : 5425U

National Express Group PLC

07 April 2016

7 April 2016

NATIONAL EXPRESS GROUP PLC

Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMRs')

2016 Awards under the National Express Group PLC Long-Term Incentive Plan 2015

National Express Group PLC (the 'Company') announces that on Wednesday, 6 April 2016 the following awards over the Company's ordinary 5 pence shares were made in the form of nil-cost options to the Executive Directors of the Company (the 'Awards').

The Awards have been made in accordance with the rules of the Company's Long- Term Incentive Plan 2015 (the 'Plan') which was approved at the Company's AGM held on 6 May 2015. The calculation of the number of options awarded is based on the middle market price on 5 April 2016 of GBP3.438 per share.

Nil Cost Options

 
 Name of Executive Director    Number of Plan 
                                   Shares 
----------------------------  --------------- 
 Dean Finch, Group Chief 
  Executive                       342,641 
----------------------------  --------------- 
 Matthew Ashley, Group 
  Finance Director                141,797 
----------------------------  ---------------

The Awards will vest under normal circumstances, subject to the achievement of performance targets relating to EPS, ROCE and TSR (split equally between the FTSE 250 and a Bespoke Index) for the period which commenced on 1 January 2016 and will end on 31 December 2018. Each target relates to one third of the Award. There is no ability to retest any of the performance conditions.

Under the Plan rules, the Executive Directors are required to hold any Plan Shares arising from the vesting of their Awards for a period of two years; their Plan Shares are also subject to the malus and clawback provisions under the Plan rules.

National Express Group PLC was informed by the Executive Directors of the above transaction on 6 April 2016.

This notification is made in accordance with DTR 3.1.4R(1)(a).

Enquiries:

Joy Baldry

Deputy Company Secretary

Tel: 0207 805 3801

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

April 07, 2016 11:10 ET (15:10 GMT)

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