Countrywide PLC Director/PDMR Shareholding (8611K)
September 26 2016 - 12:25PM
UK Regulatory
TIDMCWD
RNS Number : 8611K
Countrywide PLC
26 September 2016
26 September 2016
Countrywide plc
("Countrywide" or the "Company")
Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility and Connected Persons
Countrywide plc announces that on 26 September 2016, the
Remuneration Committee has approved the grant of 388,005 nil cost
options over the Company's ordinary shares of GBP0.01 each under
the Countrywide Long-Term Incentive Plan.
The following options were awarded to a person discharging
managerial responsibilities:
Name Number of ordinary shares subject to the option Exercise Price
---------------- ------------------------------------------------ ---------------
Helen Normoyle 83,862 nil
---------------- ------------------------------------------------ ---------------
Total 83,862
---------------- ------------------------------------------------ ---------------
Performance conditions, as measured over a three year period,
will determine the extent to which the options will vest. In
summary, the performance conditions applicable to Helen Normoyle's
options are:
Performance Weighting Performance Performance Target for 2016 Vesting
condition period level grant level
------------------ ------------- ------------- ------------ --------------------- -------
Achieving a
minimum of 5%
compound growth
1 January per annum in
2016 - EPS covering
1/3 of 31 December 2016, 2017 and
EPS Option 2018 Entry 2018 25%
------------------ ------------- ------------- ------------ --------------------- -------
Achieving a
minimum of 15%
compound growth
per annum in
EPS covering
2016, 2017 and
Maximum 2018 100%
------------ -------------------------------------------------------------------- -------
1 January
2016 -
Relative 1/3 of 31 December Median of Comparator
TSR Option 2018 Entry Group 25%
------------------ ------------- ------------- ------------ --------------------- -------
Upper quartile
of Comparator
Maximum Group 100%
------------ -------------------------------------------------------------------- -------
Achieve a minimum
of 15 point
Customer 1 January increase in
Group NPS 2016 - Group NPS covering
(Net Promoter 1/6 of 31 December 2016, 2017,
Score) Option 2018 Entry 2018 25%
------------------ ------------- ------------- ------------ --------------------- -------
Achieve a minimum
of 25 point
increase in
Group NPS covering
2016, 2017,
Maximum 2018 100%
------------ -------------------------------------------------------------------- -------
People Achieve a minimum
Group Engagement of 5% increase
Score based 1 January in Group engagement
on Sirota 2016 - levels covering
'My Countrywide' 1/6 of 31 December 2016, 2017,
survey Option 2018 Entry 2018 25%
------------------ ------------- ------------- ------------ --------------------- -------
Achieve a minimum
of 10% increase
in Group engagement
levels covering
2016, 2017,
Maximum 2018 100%
------------ -------------------------------------------------------------------- -------
TSR underpin Applies 1 January Option shall not vest unless
only to 2016 - the Remuneration Committee,
proportion 31 December in its absolute discretion,
of Option 2018 is satisfied that the Company's
subject TSR performance over the Performance
to Relative Period reflects the underlying
TSR financial performance of the
Company.
------------------ ------------- ------------- --------------------------------------------
*Between the performance levels stated above, vesting will be on
a straight line basis.
Each Performance Condition operates separately and they will be
tested by reference to performance achieved as at the end of the
Performance Period. Any fraction of share arrived at by applying
the Performance Condition shall be ignored.
If the Performance Condition(s) is not satisfied in full at the
end of the Performance Period any portion that has not vested as a
consequence of the Performance Condition not being satisfied in
full shall lapse.
In exceptional circumstances, the Remuneration Committee may
vary a Performance Condition in accordance with its terms or if
anything happens which causes the Committee to consider it
appropriate to amend the Performance Conditions, provided that the
Remuneration Committee considers that any changed Performance
Condition is fair and reasonable and will not be materially less or
more challenging to satisfy than the original condition would have
been but for such event occurring.
These options will vest on 22 March 2019 and may be exercised
prior to 22 March 2026.
The attached notification is made in accordance with the
requirements of the EU Market Abuse Regulation.
ENQUIRIES: Jim Clarke
COUNTRYWIDE PLC (+44) 07979 477299
WEBSITE: http:// www.countrywide.co.uk
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the PDMR / person closely associated
---- ------------------------------------------------------------------------
a) Name Helen Normoyle
---- ------------------------------- ---------------------------------------
2. Reason for the notification
---- ------------------------------------------------------------------------
a) Position Group Customer & Marketing Director
/ status (PDMR)
---- ------------------------------- ---------------------------------------
b) Initial notification Initial notification
/ amendment
---- ------------------------------- ---------------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
---- ------------------------------------------------------------------------
a) Name Countrywide plc
---- ------------------------------- ---------------------------------------
b) LEI 213800N1OX24ENZUIK30
---- ------------------------------- ---------------------------------------
4. Details of the transaction(s): section to be
repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date;
and (iv) each place where transactions have
been conducted
---- ------------------------------------------------------------------------
a) Description Share options over ordinary shares
of the financial of GBP0.01 each in Countrywide plc
instrument,
type of instrument
Identification GB00B9NWP991
code
---- ------------------------------- ---------------------------------------
b) Nature of Grant of options under the Countrywide
the transaction Long-Term Incentive Plan
---- ------------------------------- ---------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------ ----------
GBPNIL GBP 83,862
------------ ----------
---- ------------------------------- ---------------------------------------
d) Aggregated
information
* Aggregated volume 83,862
GBPNIL GBP
* Price
------------------------------------ ---------------------------------------
e) Date of the 2016-09-26
transaction
---- ------------------------------- ---------------------------------------
f) Place of N/A
the transaction
---- ------------------------------- ---------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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