REG - Land Sec. Group PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">LAND.L</Origin>

Land SecuritiesAnnouncement

28/06/2016 16:15

RNS Number : 5369C
Land Securities Group PLC
28 June 2016
Land Securities Group PLC
("Company")
Notification of transactions by 
Persons Discharging Managerial Responsibilities ("PDMRs")
The Company provides notification of the following transactions effected on 27 June 2016 in respect of the following Executive Directors and other PDMRs relating to their interests in the ordinary shares of nominal value 10p each in the capital of the Company ("Shares"). 
The transactions arise from: (1)(a) the release and vesting on 27 June 2016 of a deferred award of Shares made on 25 June 2014 and 2015, and (b) a deferred award of Shares made on 27 June 2016, both pursuant to the rules of the Company's Deferred Share Bonus Plan, and (2) the annual award of Shares made on 27 June 2016 pursuant to the rules of the Company's Long-Term Incentive Plan ("LTIP") and Matching Share Plan ("MSP"), as appropriate.
(1)(a) Release and vesting of a deferred award of Shares made on25 June 2014 and 2015 
Name (title)
Total number of deferred Shares released and vesting
Shares compulsorily sold at 911.5p per share
Shares voluntarily 
sold at 911.5p per share
Shares 
retained
Robert Noel,
(Chief Executive)
33,427
15,743
-
17,684
Martin Greenslade
(Chief Financial Officer)
22,134
10,405
11,729
-
Colette O'Shea
(MD, London Portfolio)
 7,174
 3,379
-
 3,795
Scott Parsons
(MD, Retail Portfolio)
 7,174
 3,374
 3,800
-
 Satisfied through the transfer of market purchased Shares from the Company's Jersey-based Employee Benefit Trust.
 To cover the individual's personal tax and social security liability that arises on vesting.
(1)(b) Deferred award of Shares made on27 June 2016
Name
Shares deferred till first anniversaryof award (i.e. 27 June 2017)
Shares deferred till second anniversaryof award (i.e. 27 June 2018)
Total number of deferred Shares awarded
Robert Noel
37,492
578
38,070
Martin Greenslade
24,405
376
24,781
Colette O'Shea
 8,444
-
 8,444
Scott Parsons
 6,051
-
 6,051
 As relates to the annual bonus payable in respect of the Company's 2015/16 financial year.
(2) LTIP and MSP Shares
award made on
27 June 2016
Name
LTIP Shares awarded (max) 
MSP Shares awarded (max) 
Robert Noel 
229,453
-
Martin Greenslade
149,361
-
Colette O'Shea 
 50,497
30,298
Scott Parsons 
 47,574
28,544
 Both the LTIP and MSP awards normally vest on the third anniversary of grant subject to the Company's achievement of certain Total Shareholder Return and Total Property Return performance conditions (which applies to each 50% of the award) for the three-year financial period ending 31 March 2019, as more particularly set out in the Director's Remuneration Report of the Company's 2016 Annual Report. Vested awards are satisfied through the transfer of market purchased Shares from the Company's Jersey-based Employee Benefit Trust.
 The MSP awards have been granted on a 2:1 matching basis by the Company. Therefore, the individual (directly or through their connected persons) is required to acquire within 30 days of grant, and then hold throughout the three-year term, Shares equal in value to 50% (net) of the MSP award in order to qualify for the full MSP award. The Executive Directors are not eligible to participate in the MSP.
As a result of and including the above transactions, the outstanding aggregate interest in Shares held by each individual is as follows:
Name
Interest in Shares under option
Interest in Shares under long-term incentives
Shares owned
(including those held by connected persons)
Robert Noel
-
892,045
278,192
Martin Greenslade
1,938
592,285
386,233
Colette O'Shea
2,195
281,894
 39,159
Scott Parsons
4,366
261,980
 50,067
 Pursuant to the rules of the Company's all-employee Savings-Related Share Option Plan. 
 Pursuant to the rules of the Company's discretionary Long-Term Incentive Plan, Matching Share Plan and Deferred Share Bonus Plan (as applicable). 
 These interests are in excess of the required holding levels (250% x salary for the Chief Executive and 200% x salary for the Chief Financial Officer) pursuant to the Company's share ownership guidelines.
This notice is given in fulfilment of the Company's obligation under DTR 3.1.2R.
END
Land Securities contact:
Michael Arnaouti +44 (0)20 7024 5219
Deputy Company Secretary

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