REG - Intl Con Airline Grp - Director/PDMR Shareholding

International Consolidated Airlines SAAnnouncement

27/05/2022 12:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220527:nRSa1049Na&default-theme=true

RNS Number : 1049N  International Cons Airlines Group  27 May 2022

 

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 

International Consolidated Airlines Group, S.A. ("IAG" or the "Company")
hereby notifies the market of the following transactions of which it has been
notified under article 19.1 of the EU Market Abuse Regulation ('MAR'),
relating to:

 

·      The award of shares under the IAG Executive Share Plan (ESP) to
IAG's newly appointed CFO, Nicholas Cadbury, to compensate for loss of bonus
and long term share awards at his previous employer, on a fair and equivalent
basis to those forfeited.

According to this, it was agreed to buy-out the awards in the form of
conditional shares, aligning his remuneration to the IAG share price
performance, with awards vesting in line with the timeframes of the awards he
held with his previous employer, and subject to the terms and conditions of
the ESP rules (including the malus and clawback terms). The award has been
made in three tranches, with the first tranche vesting immediately, the second
tranche in February 2023 and the third in February 2024.

It was considered that the award of shares was in the best interests of IAG,
and ensured IAG was able to secure the appointment of someone of Nicholas'
calibre and experience, especially within the context of the challenges facing
the commercial aviation sector.

·      A one off award of shares under the ESP as part of the Company's
Full Potential Incentive Plan (FPIP). The award is subject to a stretch
performance target in the financial year 2024, and will vest in 2025. The
award is in line with FPIP awards made to other key individuals at IAG.

 

Further information in relation to IAG share plans is in the Company's 2021
Directors' Remuneration Report, which can be accessed online at
www.iairgroup.com (http://www.iairgroup.com) .

 

 

This announcement is made in accordance with Article 19 of the MAR.

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
                                                                    Nicholas Cadbury

 a)   Name

 2    Reason for the notification

 a)   Position/status                                               Chief 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                                                          International Consolidated Airlines Group S.A.
 b)   LEI                                                           959800TZHQRUSH1ESL13
 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

                                                                    Ordinary shares of 0.10 euro each

      Identification code

                                                                    ES0177542018
 b)   Nature of the transaction                                     1.   Award of conditional shares granted under the IAG Executive Share Plan
                                                                    (ESP), vesting in three tranches: (i) immediately,  (ii) in 2023, and (iii)
                                                                    in 2024.

                                                                    2.   Award of conditional shares granted under the IAG Executive Share Plan
                                                                    (Full Potential Incentive Plan), vesting in 2025 (iv).

(i)  ESP
 c)   Price(s) and volume(s)                                        Price  Volume

                                                             0   493,701
                                                                    (ii) ESP

                                                             Price  Volume
                                                                    0   199,406
                                                                    (iii) ESP
                                                                    Price  Volume
                                                                    0   294,295
                                                                    (iv) FPIP
                                                                    Price  Volume
                                                                    0   485,805
 d)   Aggregated information

Price  Volume
      - Aggregated volume                                           0   1,473,207

      - Price
 e)   Date of the transaction                                       24 May 2022
 f)   Place of the transaction                                      Outside a trading venue
 b)   Nature of the transaction                                     The acquisition of shares (after the automatic settlement of income tax /
                                                                    national insurance liabilities) following the vesting of awards granted on 24
                                                                    May 2022

Price  Volume
 c)   Price(s) and volume(s)                                        1.226  254,979

 d)   Aggregated information

      - Aggregated volume

      - Price                                                       Not applicable
 e)   Date of the transaction                                       24 May 2022
 f)   Place of the transaction                                      Outside a trading venue

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 0.10 euro each

 

 

 

ES0177542018

b)

Nature of the transaction

1.   Award of conditional shares granted under the IAG Executive Share Plan
(ESP), vesting in three tranches: (i) immediately,  (ii) in 2023, and (iii)
in 2024.

 

2.   Award of conditional shares granted under the IAG Executive Share Plan
(Full Potential Incentive Plan), vesting in 2025 (iv).

 

c)

 

Price(s) and volume(s)

 

 

 

 (i)  ESP
 Price  Volume
 0      493,701
 (ii) ESP
 Price  Volume
 0      199,406
 (iii) ESP
 Price  Volume
 0      294,295
 (iv) FPIP
 Price  Volume
 0      485,805

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

 Price  Volume
 0      1,473,207

e)

Date of the transaction

24 May 2022

f)

Place of the transaction

Outside a trading venue

b)

Nature of the transaction

The acquisition of shares (after the automatic settlement of income tax /
national insurance liabilities) following the vesting of awards granted on 24
May 2022

 

c)

 

Price(s) and volume(s)

 

 

 

 Price  Volume
 1.226  254,979

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

 

Not applicable

e)

Date of the transaction

24 May 2022

f)

Place of the transaction

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHBGGDUSSDDGDR