REG - Paragon Grp Co PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">PARA.L</Origin>

Paragon BankingAnnouncement

23/12/2015 09:50

RNS Number : 0170K
Paragon Group Of Companies PLC
23 December 2015
DIRECTOR SHAREHOLDING
This notification is made in accordance with DTR3.1.4(1)(a).
On 22 December 2015 The Paragon Group of Companies PLC (the "Company") granted awards over the Company's Ordinary Shares of 1.00 each to the following directors, under the Paragon Performance Share Plan 2013 ("PPSP") and under the Paragon Deferred Share Bonus Plan 2013 ("PDSBP") in respect of the bonuses for the year ended 30 September 2015.
Director
Role
Number of shares awarded under PPSP
Number of shares awarded under PDSBP




N S Terrington
Chief Executive
259,944
60,042
R J Woodman
Group Finance Director
163,708
36,517
J A Heron
Managing Director- Paragon Mortgages
138,596
21,901
No consideration was paid for the grant of the awards, which have been structured as nil-cost options.
The awards will normally vest on the third anniversary of grant and will remain exercisable until the day before the tenth anniversary of the date of grant, subject to the individual's ongoing employment. 
Vesting of PPSP awards is also subject to the Company achieving performance targets relating to the Company's total shareholder return ("TSR") and earnings per share ("EPS") performance, each in relation to half of the award, over a three-year performance period commencing with the financial year of grant as follows: 
TSR
This test compares the rank of the Company's TSR over the performance period against the constituents of the FTSE-250 Index on the date of grant. 25% of TSR awards vest for median performance, increasing on a straight line basis to full vesting for upper quartile performance.
EPS
25% of EPS awards vest where EPS growth over the performance period is equal to the increase in the retail price index plus 3% pa, increasing on a straight line basis to full vesting for EPS growth equal to the increase in the retail price index plus 13% pa or more. 
In addition, prior to any awards vesting, the Committee must be satisfied that a financial underpin test has been met.
The Company was informed of the above transactions on 22 December 2015.
Pandora Sharp
Company Secretary
Tel: 0121 712 2075

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