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

easyJetAnnouncement

18/12/2015 14:01

RNS Number : 6091J
easyJet PLC
18 December 2015
easyJet plc ("the Company")
Director/PDMR shareholding
The Company announces that on 17 December 2015, the following Executive Directors and PDMRs, as set out against their names in the tables below, were conditionally awarded, purchased, or had a proportion of their annual bonus deferred into, shares under the Company's Long Term Incentive Plan (LTIP) and Deferred Annual Bonus Plan (DABP), as applicable.
The share price at the time of the grants and the Investment Share purchase was 17.13. 
TABLE 1 - AWARD OF LTIP PERFORMANCE AWARDS
Name
LTIP Performance Shares
Carolyn McCall
102,977
Andrew Findlay
49,620
Warwick Brady
48,347
Chris Brocklesby
29,807
Peter Duffy
24,763
Catherine Lynn
24,763
Kyla Mullins
22,110
Rachel Kentleton
19,702
Paul Moore
19,229
The LTIP Performance Shares Awards will vest in three years' time, free of charge, on 17 December 2018, subject to continued employment and the performance conditions shown below: 
ROCE (50% of total award)
Below 15%
15%
18%
20% or more

Below Threshold (0% vesting)
Threshold (25% vesting)
On-target (50% vesting)
Maximum (100% vesting)
Ranking of easyJet's TSR (50% 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 Return on Capital Employed (ROCE) targets are based on average ROCE over the three year performance period (being three years from 1 October 2015). 
The Total Shareholder Return (TSR) targets are based on relative TSR compared to companies ranked FTSE 31 to 130 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 below sets out the shares corresponding to the mandatory deferral of annual bonus under the DABP. The DABP Shares below are already included in, and are not in addition to, the bonus figures disclosed in the Annual report and accounts. 
TABLE 2 - ANNUAL BONUS DEFERRED UNDER DABP
Name
DABP Shares
Carolyn McCall
17,845
Warwick Brady
3,478
Mike Campbell
2,493
Peter Duffy
2,492
Catherine Lynn
2,295
Paul Moore
2,052
Chris Brocklesby
1,795
Rachel Kentleton
1,733
Kyla Mullins
1,379
The proportion of the annual bonus under the DABP is deferred for three years until 17 December 2018, will be subject to forfeiture and will not be subject to any further matching.
Further details relating to the operation of the LTIP and DABP can be found within the Annual report and accounts which are available on the Company's website.
This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.4R. 
For further details, please contact:
Stuart Morgan, Investor relations
+44 (0) 7961 763 879
Anna Knowles, Corporate communications
+44 (0) 7985 873 313
Ed Simpkins, Finsbury
+44 (0) 7947 740 551

+44 (0) 207 251 3801

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