REG - Trinity Mirror PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">TNI.L</Origin>

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06/09/2014 22:45

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RNS Number : 8647N
Trinity Mirror PLC
31 July 2014 
 
Trinity Mirror plc 
 
31 July 2014 
 
Notification of Transactions of Directors/Persons Discharging 
 
Managerial Responsibility and Connected Persons 
 
In accordance with DTR 3.1.4.R, on 30 July 2014, Trinity Mirror plc (the
"Company") was notified by the Trustees of the Trinity Mirror Deferred Award
Share Plan (the "DSA Plan") and of the Trinity Mirror Long Term Incentive Plan
("the LTIP) of the following changes in two directors' interests in the
Company's ordinary shares (the "Shares") arising out of the operation of the
DSA Plan and the LTIP. 
 
The awards of Shares under the DSA Plan, which represent deferred bonus
relating to 2010 performance, were granted on 31 March 2011. 
 
At the election of each recipient, shares may be released under the DSA Plan
at nil cost to the recipient within a period of six months from the third
anniversary of grant. 
 
The awards of Shares under the LTIP were made on 31 March 2011. The
performance period for the LTIP awards ended on 31 December 2013. Vesting of
the awards was dependent on the Company's Total Shareholder Return ("TSR")
performance compared to a group of 14 other media companies over a three-year
performance period. 
 
Over the performance period, the Company's TSR ranked 6th out of the 15
companies which would ordinarily have warranted 65% vesting. The Remuneration
Committee of the Board of the Company considered the Company's performance
over this period more broadly and decided to reduce the formulaic vesting by
20%. 
 
At the election of each recipient, vesting shares may be released under the
LTIP at nil cost to the recipient within a period of six months from the third
anniversary of grant 
 
The Company has instructed the Trustees to sell sufficient shares to satisfy
each director's PAYE and National Insurance liabilities. The directors have
retained the balance of shares released. 
 
As a result of the above, the following transactions are disclosed: 
 
Director: Vijay Vaghela 
 
                  Shares released from the Trust  Shares sold at £1.99 to satisfy tax and NI liabilities  Shares retained  
 DSA Plan Shares  262,095                         123,432                                                 138,663          
 LTIP Shares      170,362                         80,231                                                  90,131           
 
 
The director's shareholding is as follows: 
 
                Total beneficial holding following this notification  Total holding as a percentage of shares in issue  
 Vijay Vaghela  474,546*                                              0.184%                                            
 
 
*Including 21,673 shares held in the Company's Restricted Share Plan. 
 
Director: Paul Vickers 
 
                  Shares released from the Trust  Shares sold at £1.99 to satisfy tax and NI liabilities  Shares retained  
 DSA Plan Shares  171,429                         80,733                                                  90,696           
 LTIP Shares      148,571                         69,969                                                  78,602           
 
 
The director's shareholding is as follows: 
 
               Total beneficial holding following this notification  Total holding as a percentage of shares in issue  
 Paul Vickers  353,426*                                              0.137%                                            
 
 
*Including 18,901 shares held in the Company's Restricted Share Plan. 
 
As at 31 July 2014, the Company's issued share capital stands at 257,690,520
ordinary shares of 10p each. 
 
Paul Vickers 
 
Company Secretary 
 
This information is provided by RNS
The company news service from the London Stock Exchange