Director/PDMR Shareholding

Released : 01/07/2013

RNS Number : 3327I
QinetiQ Group plc
01 July 2013
 



QinetiQ Group plc

 

1 July 2013

 

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR THEIR CONNECTED PERSONS

 

1.         Grant of Awards under Deferred Annual Bonus Plan

On 28 June 2013 Executive Directors were granted awards of Ordinary Shares of 1p ('Shares') under the QinetiQ Group plc Deferred Annual Bonus Plan ('DAB') as summarised below:

Director

Number of Shares awarded under the Deferred Award

Maximum potential number of Shares under the Matching Award

David Mellors

157,196

157,196

Leo Quinn

247,129

247,129

 

There is no exercise price applicable for the above awards.  The Deferred Awards, and the Matching Awards to the extent that they meet the performance target, will normally vest on 28 June 2016.  The Deferred Awards relate to pre-tax bonus and were based on a market value of 180.4p per share.

 

The DAB operates as follows:

Executive Directors have a mandatory deferral of 50% of any bonus earned into a restricted, deferred award of Shares under the DAB.  At the same time, the Company grants a matching award of Shares, up to a maximum match of 100% of the deferred award.  Vesting of the matching award occurs after three years, subject to the achievement of EPS-based performance conditions, up to a maximum match of one Share for each Share deferred.

 

2.         Grant of Awards under Performance Share Plan

On 28 June 2013 Executive Directors were granted awards of Ordinary Shares of 1p ('Shares') under the QinetiQ Group plc 2012 Performance Share Plan ('PSP') as summarised below:

Director

Maximum potential number of Shares under the PSP Award

% of Issued Share Capital

David Mellors

300,000

0.0454%

Leo Quinn

471,631

0.0714%

 

There is no exercise price applicable for the above awards.  To the extent that they meet the performance target, the awards will normally vest on 28 June 2016.

Vesting of the awards occurs after three years, subject to the achievement of the following performance conditions:

(i)        50% of an award is subject to an Earnings per Share target set over a three year performance period; and

(ii)       50% of an award is subject to Total Shareholder Return measured over a three year performance period.

 

 

As a result of the grant of the Deferred Awards detailed above, the aggregate number of Shares held beneficially by the Executive Directors (across all accounts) is as follows:

 

David Mellors:  374,641 Shares (0.0567% of the Company's issued share capital)

Leo Quinn:  1,560,913 Shares (0.2363% of the Company's issued share capital)

 

This notification is made pursuant to rule 3.1.4R of the FSA Disclosure Rules and Transparency Rules.

END

 

For further information:

 

Jon Messent, Company Secretary, QinetiQ Group plc

 

David Bishop, Investor Relations, QinetiQ Group plc

 

01252 392000


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