REG - Serco Group PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">SRP.L</Origin>

SercoAnnouncement

05/05/2016 14:50

RNS Number : 4049X
Serco Group PLC
05 May 2016
Serco Group plc ('Serco' or 'the Company') advises that, on 3 May 2016, the individuals named below, each a person discharging managerial responsibility, were awarded a Matching Share Award, under the terms of the Company's Deferred Bonus Plan, as follows:

Investment Shares Purchased
Matching Share Award (Maximum)
Rupert Soames
303,825
1,154,540
Angus Cockburn
154,891
588,589
Liz Benison
70,272
267,041
Kevin Craven
25,417
96,592
David Eveleigh
10,392
39,494
Geoff Lloyd
10,392
39,494
The Investment Shares were purchased at 95.5471 pence per share each on the London Stock Exchange. The number of Matching Shares that will vest under the Deferred Bonus Plan is conditional upon the satisfaction of a three-year EPS performance target: Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 7.5p (threshold) to 9.1p (maximum), measured as an aggregate over the three-year performance period ending 31 December 2018. At threshold, a value equivalent to half of the gross investment will be converted to Matching Shares, increasing to a maximum of two times the gross investment at the maximum performance target level. Pre-vesting malus and post-vesting clawback will also apply to the Matching Share Award. In exceptional circumstances the Remuneration Committee retains discretion to change performance measures and targets part-way through the performance period if there is a significant event such as a major transaction.
This announcement replaces the announcement made on 3 May 2016, which stated incorrectly the number of Investment Shares purchased by Angus Cockburn as 169,503.
This notice is given in fulfilment of obligations under DTR3.1.4R(1)(a).

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