easyJet PLC Director/PDMR Shareholding (7345Q)

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RNS Number : 7345Q

easyJet PLC

19 June 2015

easyJet plc ("the Company")

Director/PDMR shareholding

19 June 2015

The Company announces that on 19 June 2015, the following PDMRs who recently joined the Company were awarded shares under the Company's Long Term Incentive Plan (LTIP), as set out against their names in the tables below.

The share price at the time of each of the grants was GBP15.58.

 
       Name          LTIP Performance Shares 
------------------  ------------------------ 
 Chris Brocklesby            27,037 
------------------  ------------------------ 
   Kyla Mullins              20,057 
------------------  ------------------------ 
 

The LTIP Performance Shares Awards will vest in three years' time, free of charge, on 19 June 2018, subject to continued employment and the performance conditions shown below:

 
 ROCE (50% 
  of total                                                            20.0% or 
   award)       Below 15.0%          15.0%            18.2%              more 
-----------  -----------------  ---------------  ---------------  ---------------- 
        Below Threshold            Threshold        On-target          Maximum 
          (0% vesting)            (25% vesting)    (40% vesting)    (100% vesting) 
 -----------------------------  ---------------  ---------------  ---------------- 
 
 
 Ranking of easyJet's      < median           median       upper quartile 
   TSR (50% of total 
        award) 
---------------------  ----------------  ---------------  ---------------- 
                        Below Threshold     Threshold          Maximum 
                          (0% vesting)     (25% vesting)    (100% vesting) 
---------------------  ----------------  ---------------  ---------------- 
 

Awards vest on a straight-line basis between these points.

The Return on Capital Employed (ROCE) targets are based on average ROCE (including operating lease adjustments) over the three year performance period (being three years from 1 October 2014).

The Total Shareholder Return (TSR) targets are based on relative TSR compared to companies ranked FTSE 31 to 130 at the date of grant, where the average share price is calculated over three months at the start and end of the period. In addition, in order for the TSR-based awards to vest, easyJet must have achieved positive absolute TSR performance over the performance period.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.4R.

For further details, please contact:

 
 Will MacLaren, Investor 
  relations                 [phone] 
 Anna Knowles, Corporate 
  communications            [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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