REG - Rio Tinto - Director/PDMR Shareholding

Rio TintoAnnouncement

04/03/2019 15:35

RNS Number : 7815R
Rio Tinto PLC
04 March 2019
 


Shareholdings of directors and persons discharging managerial responsibility (PDMR) / Key Management Personnel (KMP) 
 
4 March 2019
 
Rio Tinto plc notifies the London Stock Exchange (LSE) of PDMR/KMP interests in securities of Rio Tinto plc, in compliance with the EU Market Abuse Regulation. As part of its dual listed company structure, Rio Tinto voluntarily notifies the Australian Securities Exchange (ASX) of material dealings in Rio Tinto plc shares by PDMR/KMP and both ASX and the London Stock Exchange (LSE) of material dealings by PDMR/KMP in Rio Tinto Limited securities.
 
Performance Share Plan ("PSP")
 
The PSP is a performance based share plan which provides participants with the conditional right (known as a Performance Share Award or PSA) to receive Rio Tinto plc or Rio Tinto Limited shares, subject to performance conditions being met, under the terms of the Rio Tinto plc PSP and Rio Tinto Limited PSP respectively.
 
The 2014 PSA is subject to two performance conditions. Two thirds of the award is subject to Total Shareholder Return (TSR) performance and the remaining third to an Earnings based measure of Relative EBIT Margin. The TSR part of the award vested on 28 February 2019. The remaining third of the 2014 PSA award will vest on 31 May 2019 once the relative EBIT margin performance has been established.
 
On 28 February 2019, the following PDMRs received their vested PSA in the form of shares, of which sufficient were sold to pay applicable withholding tax and other deductions.
 



Security


Name of PDMR/KMP


Conditional Award Granted


TSR Vest Portion


No: of Shares Lapsed


No: of Shares Vested*


No: of Shares Sold


Price per Share


No: of Shares Retained




Rio Tinto plc shares
 


Baatar, Bold


7,765


2,588


2,589


3,010


826


43.27 GBP


2,184




Rio Tinto plc shares
 


Barrios, Alfredo


43,568


14,523


14,523


16,708


9,131


43.27 GBP


7,577




Rio Tinto plc shares


Jacques,
Jean-Sébastien


70,057


23,352


23,353


27,166


13,090


43.27 GBP


14,076




Rio Tinto Limited shares


Salisbury, Christopher


7,994


2,665


2,665


3,033


1,407


96.68 AUD


1,626




Rio Tinto Limited shares


Soirat, Arnaud


16,326


5,442


5,443


6,195


2,135


96.68 AUD


4,060




Rio Tinto Limited shares


Trott, Simon


5,135


1,712


1,712


1,948


0


N/A


1,948



 
 
*The number of shares vested includes additional shares calculated to reflect dividends declared during the vesting period on the original shares granted, in accordance with the PSP rules.
 
Management Share Plan ("MSP")
 
The MSP is a service based award which provides the participants with an award (known as a Management Share Award or MSA) of Rio Tinto plc or Rio Tinto Limited shares which vests subject to continuous employment. 
 
On 28 February 2019, the following PDMRs received their vested MSA in the form of shares, of which sufficient were sold to pay applicable withholding tax and other deductions.  All MSA included in this announcement were granted prior to the PDMR/KMP becoming a member of the Executive Committee.
 



Security


Name of PDMR/KMP


Conditional Award Granted


No. of Shares Vested*


No. of Shares Sold


Price per Share
 


No. of Shares Retained




Rio Tinto plc shares


Baatar, Bold


4,317


4,750


1,849


43.27 GBP


2,901




Rio Tinto Limited shares


Salisbury, Christopher


4,632


5,003


2,320


96.68 AUD


2,683




Rio Tinto Limited shares


Soirat, Arnaud


5,057


5,462


1,464


96.68 AUD


3,998




Rio Tinto Limited shares


Trott, Simon


2,353


2,541


0


N/A


2,541



 
 
*The number of shares vested includes additional shares calculated to reflect dividends declared during the vesting period on the original shares granted, in accordance with the MSP rules.
 
FCA notifications in accordance with the EU Market Abuse Regulation have been issued to the London Stock Exchange contemporaneously with this release.
 
LEI: 213800YOEO5OQ72G2R82

Classification: 2.2. Inside information disclosed under article 19 of the Market Abuse Regulation
 



Steve Allen
Group Company Secretary                                
 


Tim Paine
Joint Company Secretary




Rio Tinto plc
6 St James's Square
London SW1Y 4AD
United Kingdom
 
T +44 20 7781 2058

Registered in England
No. 719885


Rio Tinto Limited
360 Collins Street
Melbourne 3000
Australia
 
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404



 




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