REG - easyJet PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">EZJ.L</Origin> - Part 1

easyJetAnnouncement

22/12/2016 07:45

RNS Number : 5559S
easyJet PLC
22 December 2016
easyJet plc ("the Company")
Director/PDMR shareholding
The Company announces that on 19 December 2016, the following Executive Directors and PDMRs, as set out against their names in the tables below, were granted nil cost option awards over 27 2/7 p ordinary shares in the capital of the Company under the Company's Long Term Incentive Plan (LTIP) and Deferred Annual Bonus Plan (DABP), as applicable.
TABLE 1 - AWARD OF LTIP PERFORMANCE SHARES AWARDS
Name
Number of Shares under LTIP Performance Shares Awards
Carolyn McCall
169,127
Andrew Findlay
88,686
Chris Brocklesby
48,954
Chris Browne
57,526
Peter Duffy
48,897
Catherine Lynn
40,671
Paul Moore
31,581
Kyla Mullins
43,144
Jacky Simmonds
44,582
The LTIP Performance Shares Awards will vest and become exercisable on the third anniversary of their grant date subject to the grantee's continued employment and to the extent to which the average Return of Capital Employed (ROCE) and relative total shareholder return (TSR) performance conditions set for the LTIP Performance Shares Awards are met, summary details of which are shown below: 
ROCE (70% of total award)
Below 9%
9%
11.2%
13% or more

Below Threshold (0% vesting)
Threshold (25% vesting)
On-target (50% vesting)
Maximum (100% vesting)
Ranking of easyJet's TSR (30% of total award)
< Median
Median
Upper quartile

Below Threshold (0% vesting)
Threshold (25% vesting)
Maximum (100% vesting)
Awards vest on a straight-line basis between these points. 
The LTIP ROCE targets set out above are based on average headline ROCE over the three year performance period (being three years from 1 October 2016). The performance measures for the headline ROCE targets will be based on headline profit. For the avoidance of doubt, headline profit is also used in the performance measures for the bonus targets for the year ended 30 September 2017.
The TSR targets are based on relative TSR compared to companies ranked FTSE 51 to 150 at the start of the performance period, where the average share price is calculated over three months at the start and end of the period. In addition, in order for the TSR-based awards to vest, easyJet must have achieved positive absolute TSR performance over the performance period.
TABLE 2 - AWARD OF RESTRICTED SHARES AWARDS
Name
Number of Shares under Restricted Shares Awards
Chris Brocklesby
16,318
Peter Duffy
16,299
Paul Moore
5,263
Kyla Mullins
14,381
The Restricted Share Awards have been granted this year under the Company's LTIP Rules to certain individuals excluding the Executive Directors. The awards will ordinarily vest and become exercisable on the second anniversary of their grant date subject to the grantee's continued employment and a performance requirement of satisfactory personal performance.
TABLE 3 - AWARD OF DEFERRED ANNUAL BONUS PLAN AWARDS
Name
Number of Shares under DABP Awards 
Carolyn McCall
6,040
Andrew Findlay
4,985
Chris Brocklesby
2,311
Peter Duffy
1,920
Catherine Lynn
1,582
Paul Moore
1,476
Kyla Mullins
1,714
Jacky Simmonds
1,574
The Deferred Annual Bonus Plan Awards relate to a required deferral of a portion of annual bonus and shall ordinarily vest and become exercisable on the third anniversary of their grant date subject to the grantee's continued employment. 
Further details relating to the operation of the LTIP and DABP can be found within the 2016 Annual report and accounts which are available on the Company's website.
Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the LTIP and DABP.
For further details, please contact:
Stuart Morgan, Investor Relations
+44 (0) 7989 665 484
Michael Barker, Investor Relations
+44 (0) 7985 890 939
Paul Moore, Corporate Communications
+44 (0) 7860 794 444
Ed Simpkins, Finsbury
+44 (0) 7947 740 551

+44 (0) 207 251 3801
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Carolyn McCall
2.
Reason for the notification
a)
Position/status
Chief Executive Officer
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Nil
Nil
169,127
6,040
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 175,167
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Andrew Findlay
2.
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Nil
Nil
88,686
4,985
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 93,671
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Chris Brocklesby
2.
Reason for the notification
a)
Position/status
Chief Information Officer
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
3. Grant of Restricted Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the second anniversary of its grant date subject to continued service and a performance requirement of satisfactory personal performance.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Restricted Share Awards
Nil
Nil
Nil
48,954
2,311
16,318
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 67,583
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Chris Browne
2.
Reason for the notification
a)
Position/status
Chief Operating Officer
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance Awards
Nil
57,526
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 57,526
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Peter Duffy
2.
Reason for the notification
a)
Position/status
Chief Commercial Officer
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
3. Grant of Restricted Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the second anniversary of its grant date subject to continued service and a performance requirement of satisfactory personal performance.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Restricted Share Awards
Nil
Nil
Nil
48,897
1,920
16,299
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 67,116
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Cath Lynn
2.
Reason for the notification
a)
Position/status
Group Director of Strategy and Network
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Nil
Nil
40,671
1,582
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 42,253
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Paul Moore
2.
Reason for the notification
a)
Position/status
Communications Director
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
3. Grant of Restricted Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the second anniversary of its grant date subject to continued service and a performance requirement of satisfactory personal performance.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Restricted Share Awards
Nil
Nil
Nil
31,581
1,476
5,263
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 38,320
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Kyla Mullins
2.
Reason for the notification
a)
Position/status
Company Secretary & Group General Counsel
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
3. Grant of Restricted Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the second anniversary of its grant date subject to continued service and a performance requirement of satisfactory personal performance.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Restricted Share Awards
Nil
Nil
Nil
43,144
1,714
14,381
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 59,239
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities/ person closely associated
a)
Name
Jacky Simmonds
2.
Reason for the notification
a)
Position/status
Group People Director
b)
Initial notification/ Amendment
This is an initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
easyJet plc
b)
LEI
2138001S47XKWIB7TH90
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 27 2/7p
ISIN: GB00B7KR2P84
b)
Nature of the transaction
1. Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
2. Grant of DABP Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
LTIP Performance
Awards
DABP Awards
Nil
Nil
44,582
1,574
d)
Aggregated information
Aggregated volume
Price
Aggregated volume: 46,156
GBP Nil
e)
Date of the transaction
2016-12-19
f)
Place of the transaction
Outside a trading venue

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