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

SercoAnnouncement

07/04/2017 10:10

RNS Number : 9258B
Serco Group PLC
07 April 2017
7 April 2017
Serco Group plc
Legal Entity Identifier: 2138005O9XJIJN4JPN90 
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014
Serco Group plc ('Serco' or 'the Company'), the international service company, advises that, on 6 April 2017, the individuals named below, each a PDMR, were granted options to acquire at nominal cost (with the exception of Ed Casey who has been granted a conditional share award) the following number of ordinary shares of 2p each in the Company (ISIN: GB0007973794), through participation in the Serco Group plc Performance Share Plan ('the PSP'):
Name
Grant Date
Position of PDMR
Maximum number of shares over which options granted
Rupert Soames
6 April 2017
Group Chief Executive 
1,504,424
Ed Casey
6 April 2017
Group Chief Operating Officer
1,328,107
Angus Cockburn
6 April 2017
Group Chief Financial Officer
774,336
Liz Benison
6 April 2017
CEO, Local & Regional Government
283,185
Kevin Craven
6 April 2017
CEO, Central Government
353,982
David Greer
6 April 2017
CEO Middle East
305,551
Mark Irwin
6 April 2017
CEO AsPac
350,427
Guy Leach
6 April 2017
Risk & Acquisitions Director
255,000
Geoff Lloyd
6 April 2017
Group HR Director
255,221
David Eveleigh
6 April 2017
Group General Counsel & Company Secretary
256,637
Kate Steadman
6 April 2017
Group Strategy & Communications Director
159,292
The grants of options have been made in London and are based on the closing share price on the London Stock Exchange on 5 April 2017 of 113p per share.
The number of shares that will vest under the PSP is conditional upon the satisfaction of three independent, equally weighted, performance measures as follows:
Performance
Measure
Weighting of
Measure
Performance Target
EPS
1/3rd
Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 13.5p (threshold, 25% vesting) to 16.5p (maximum, 100% vesting), measured as an aggregate over the three-year performance period ending 31 December 2019.
TSR
1/3rd
Total Shareholder Return (TSR) of median (threshold, 25% vesting) to upper quartile (maximum, 100% vesting) when ranked relative to companies in the FTSE250 (excluding investment trusts), measured over the three-year performance period ending 31 December 2019.
ROIC
1/3rd
Pre-tax Return on Invested Capital (ROIC) of 8.4% (threshold, 25% vesting) to 10.2% (maximum, 100% vesting), measured as an average over the three-year performance period ending 31 December 2019.
In exceptional circumstances the Remuneration Committee retains discretion to change performance measures and targets and the weightings attached to performance measures part-way through the performance period if there is a significant event such as a major transaction.
For the Executive Directors, any shares that vest will be subject to a post-vesting holding requirement that takes the total term of the award to a minimum of five years. Post-vesting clawback also applies to the Executive Directors awards. Awards to all participants are subject to pre-vesting malus.

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