REG - BAE SYSTEMS PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">BAES.L</Origin>

BAE SystemsAnnouncement

15/07/2015 13:08

RNS Number : 3647K
BAE SYSTEMS PLC
16 April 2015
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR THEIR CONNECTED PERSONS 
Notifications made in accordance with Rule 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules.
BAE Systems plc announces that certain Persons Discharging Management Responsibility (PDMRs) have exercised share option and performance share awards granted under the Company's long-term incentive plans, and that a number of the shares were subsequently sold. The Company was notified of these transactions yesterday, 15 April 2015. 
The details of these transactions, which took place on the London Stock Exchange, are set out below. 
Performance Share Plan
The following PDMRs exercised awards granted under the Performance Share Plan to acquire ordinary shares of 2.5p each in BAE Systems plc at nil consideration on 15 April 2015 as set out below. As indicated, a number of the shares were subsequently disposed of on 15 April 2015. 
Performance Share Plan 
Number of shares exercised
Number of shares sold
Sale price (per share)
Philip Bramwell
20,078
10,989*
530.49 pence
Guy Griffiths
4,735
2,592*
530.49 pence
Ian King
20,622
11,286*
530.49 pence
Peter Lynas
22,119
12,105*
530.49 pence
Kevin Taylor
14,135
7,736*
530.49 pence
Nigel Whitehead
5,134
5,134
530.49 pence
 
* Sufficient shares were sold to pay national insurance and income tax falling due on exercise and the balance of shares retained.

Executive Share Option Plan 
The following PDMRs exercised options to acquire ordinary 2.5p shares in BAE Systems plc on 15 April 2015 at the option prices stated below. As indicated, a number of the shares were subsequently disposed of on 15 April 2015.

Number of shares under option exercised
Option price (per share)
Shares sold
Shares retained
Sale price (per share)
Tom Arseneault
182,626
3.01
67,559*
11,445
530.49 pence
Philip Bramwell
199,210
3.01
86,178*
Nil
530.49 pence
Alan Garwood
180,175
3.01
77,943*
Nil
530.49 pence
Guy Griffiths
183,716
90,698
3.01
4.30
79,475*
90,698
Nil
Nil
530.49 pence
530.49 pence
Ian King
145,443
173,960
4.28
4.57
145,443
173,960
Nil
Nil
530.49 pence
530.49 pence
Peter Lynas
145,297
13,386 
75,887 
73,522
3.01
3.56
4.28
4.57
62,855*
13,386
75,887
73,522
Nil
Nil
Nil
Nil
530.49 pence
530.49 pence
530.49 pence
530.49 pence
Kevin Taylor
172,757
3.01
74,734*
Nil
530.49 pence
Nigel Whitehead
199,210
3.01
86,178*
Nil
530.49 pence
* Share option settled on net settled basis, ie the Company only issued shares to the value of the difference between the option price and the market price on exercise. This only applies to options awarded since 2012.
Sale of shares by PDMR and PDMR's Connected Person
Philip Bramwell, a PDMR, yesterday sold 160,294 ordinary shares of 2.5p each in BAE Systems plc at a sale price of 530.49 pence per share. Elizabeth Bramwell, a person connected to Mr Bramwell, yesterday sold 45,681 ordinary shares of 2.5p each in BAE Systems plc at a sale price of 530.49 pence per share. These sale transactions took place on the London Stock Exchange.
PDMR Shareholdings
Following the above transactions, each of the PDMRs listed holds shares in excess of their minimum shareholding requirements. The Company's senior executives are subject to minimum shareholding requirements (MSR) that require the individual to retain a certain value of shares when exercising long-term incentive plan awards unless they already hold shares in excess of their MSR. Except for the Chief Executive and the President & CEO of BAE Systems, Inc., executive PDMRs have MSRs of 200% of base salary. For the Chief Executive the requirement is 300% of base salary, and for the President & CEO of BAE Systems, Inc. it is 350%. 
Following the above transactions the personal shareholdings of the two executive directors have increased, and are currently as follows:
Ian King - 1,795,304 shares
Peter Lynas - 364,511 shares
Enquiries:
Investors:
Andrew Wrathall
Tel: +44 (0)1252 383455
Email:Andrew.wrathall@baesystems.com
Media:
Richard Webster-Smith
Tel: +44 (0)7801 717739
Email: Richard.webster-smith@baesystems.com

This information is provided by RNS
The company news service from the London Stock Exchange
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