REG - Burberry Group PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">BRBY.L</Origin>

BurberryAnnouncement

31/01/2017 11:05

RNS Number : 6007V
Burberry Group PLC
31 January 2017
Burberry Group plc (the "Company") - Director/PDMR Shareholdings
The Company announces that it was notified on 30 January 2017 of changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in the Ordinary Shares of 0.05p each in the Company ("Shares"), as set out below.
1. As set out in Burberry Group plc's Directors' Remuneration Report 2015/16, published in May 2016, the Company delayed the grant of 2016 Executive Share Plan (the "ESP") awards while new initiatives to deliver productivity and efficiency improvements, also announced in May 2016, were first being implemented. This was to ensure that the ESP performance targets were properly aligned with Burberry's updated strategic goals. 
In accordance with the rules of the Burberry ESP, the directors and PDMRs named below were granted nil-cost options or conditional awards over Shares:
PDMRs
Number of Shares 
Christopher Bailey
215,318
Julie Brown
126,480
Marco Gentile
60,228
Donald Kohler 
70,962 
Pascal Perrier
108,562 
For the awards granted to Christopher Bailey and Julie Brown, 50% of each award will vest on the third anniversary of grant, and 50% on the fourth anniversary of grant, subject to the achievement of performance conditions as set out below.
For the awards granted to Marco Gentile, Donald Kohler and Pascal Perrier, 50% of each award will vest on 22 July 2019, and 50% on 22 July 2020, subject to the achievement of performance conditions as set out below.
The vesting of these ESP awards is subject to three performance measures, as summarised in the table below.



Performance level
(% of maximum vesting)
ESP performance measure
Definition 
Weighting (% of award)
Threshold
(25%)
Target
(50%)
Maximum
(100%)
Group Adjusted Profit Before Tax
3 year growth, calculated on a constant currency basis
50%
1.0% p.a.
2.7% p.a.
6.0% p.a.
Group Revenue
3 year growth, calculated on a constant currency basis
25%
1.0% p.a.
2.5% p.a.
5.5% p.a.
Return on Invested Capital
3 year average
25%
13.9%
14.3%
15.2%
These performance conditions will be measured over the 3 year period, from 1 April 2016 to 31 March 2019. The targets for all three performance measures have been carefully calibrated by the Remuneration Committee based on Burberry's 3 year financial goals, external expectations for the business and the sector, and to align with long term value creation for shareholders. These ESP performance targets will also be available shortly on the Company's website.
2.  The following directors and PDMRs were granted one off exceptional awards of nil cost options or conditional awards over ordinary Shares:
PDMRs
Number of Shares 
Donald Kohler 
42,913
Pascal Perrier
43,425
 50% of each award will vest on 15 December 2017, and 50% on 15 December 2018, subject to the achievement of performance conditions and continued employment.
3.  Julie Brown was granted a nil cost option over 25,000 Shares. 33% of this award will vest on 27 March 2018, 33% will vest on 27 March 2019 and 34% will vest on 27 March 2020, subject to continued employment. As set out in the RNS of 11 July 2016, this award was granted as compensation for the incentives Julie Brown forfeited on leaving her previous employer.
4.  Julie Brown was granted a nil cost option over 215,000 Shares. 40% of this award will vest on 22 July 2017, 30% will vest on 22 July 2018 and 30% will vest on 22 July 2019, subject to continued employment. As set out in the RNS of 11 July 2016, this award was granted as compensation for the incentives Julie Brown forfeited on leaving her previous employer.
31 January 2017
The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
Notification of dealing form
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Christopher Bailey
2
Reason for the notification
a)
Position/status
Chief Creative and Chief Executive Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
215,318
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
215,318
3,574,989
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON




1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Julie Brown
2
Reason for the notification
a)
Position/status
Chief Operating and Financial Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
126,480
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
126,480
2,099,985
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON




1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Marco Gentile
2
Reason for the notification
a)
Position/status
President, EMEIA
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
60,228
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
60,228
999,983
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON




1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Donald Kohler
2
Reason for the notification
a)
Position/status
President, Americas
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of conditional awards over ordinary Shares under the Burberry Group plc Executive Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
70,962
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
70,962
1,178,203
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON




1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Pascal Perrier
2
Reason for the notification
a)
Position/status
Chief Executive Officer, Asia Pacific
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
108,562
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
108,562
1,802,487
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON




1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Donald Kohler
2
Reason for the notification
a)
Position/status
President, Americas
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of conditional awards over ordinary Shares as an exceptional share award
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
42,913
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
42,913
712,497
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON




1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Pascal Perrier
2
Reason for the notification
a)
Position/status
Chief Executive Officer, Asia Pacific
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of nil-cost options as an exceptional share award
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
43,425
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
43,425
720,998
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON




1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Julie Brown
2
Reason for the notification
a)
Position/status
Chief Operating and Financial Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Burberry Group plc
b)
LEI
N/A
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 of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.05pence each
GB0031743007
b)
Nature of the transaction
Grant of nil-cost options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
16.6033
25,000
16.6033
215,000
d)
Aggregated information
- Aggregated volume
- Price
Aggregate Price
Aggregate Volume
Aggregate
Total
16.6033
240,000
3,984,792
e)
Date of the transaction
2017-01-30
f)
Place of the transaction
XLON





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