easyJet PLC Director/PDMR Shareholding (0767C)

TIDMEZJ

RNS Number : 0767C

easyJet PLC

13 January 2015

easyJet plc ("the Company")

Director/PDMR shareholding

13 January 2015

The Company announces that on 12 January 2015, the PDMR set out below exercised her award under the easyJet Long Term Incentive Plan ('LTIP') and subsequently sold and retained the resulting number of ordinary shares of 27 and 2/7 pence ('Shares') set out against her name:

 
 Name     Number       Number       Sale         Number       Total          % of total 
           of awards    of Shares    Price        of shares    holding        voting 
           exercised    sold         per Share    retained     following      rights 
                                                               transaction    following 
                                                                              transaction 
-------  -----------  -----------  -----------  -----------  -------------  ------------- 
 Cath 
  Lynn     238,213      112,241     GBP16.2454    125,972       228,951         0.058% 
-------  -----------  -----------  -----------  -----------  -------------  ------------- 
 

The total number of shares exercised consists of 166,467 LTIP performance awards granted on 31 March 2011 (the '2011 LTIP'), 114,562 LTIP performance awards granted on 4 January 2012 and 7,124 LTIP matching awards granted on 4 January 2012 (the LTIP awards granted in January 2012 together being the '2012 LTIP').

The 2011 LTIP award was granted based on a share price of GBP3.379. The LTIP award vested on 31 March 2014 at 100% of the total award. This 100% vesting required easyJet's Return on Capital Employed (ROCE) to achieve the target of 12% (if the award was the equivalent of up to 100% salary) or 13% (if the award was the equivalent of between 100% and 200% of salary). The ROCE targets were based on ROCE (excluding operating lease adjustments) for the financial year ending 30 September 2013. The Company achieved a ROCE target of 23.0% in the 2013 financial year.

The 2012 LTIP award was granted based on a share price of GBP3.928. The LTIP award vested on 4 January 2015 at 100% of the total award. This 100% vesting required easyJet's Return on Capital Employed (ROCE) to achieve the target of 12% (if the award was the equivalent of up to 100% salary) or 13% (if the award was the equivalent of between 100% and 200% of salary). The ROCE targets were based on three year average ROCE (excluding operating lease adjustments) performance for the years ended 30 September 2012, 30 September 2013 and 30 September 2014. The Company achieved an average ROCE target of 22.0% for the three financial years ended 30 September 2014.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.2R and 3.1.4R. The Company received notification of this transaction on 13 January 2015.

For further details, please contact:

Institutional investors and analysts

 
 Will MacLaren, Investor 
  Relations                 07961 763 879 
 Michael Barker             07985 890 939 
 

Media:

 
 Paul Moore, Corporate 
  Communications          07860 794 444 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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