Royal Mail PLC Director/PDMR Shareholding (4596M)

TIDMRMG

RNS Number : 4596M

Royal Mail PLC

28 July 2017

28 July 2017

Royal Mail plc

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

Long Term Incentive Plan 2014 (LTIP 2014) Vesting

On 28 July 2017, the shares vesting under the Royal Mail plc (the "Company") LTIP 2014 were transferred to the plan's participants. As a result of the Company achieving 46 per cent of the performance target relating to the LTIP 2014, the Persons Discharging Managerial Responsibility ("PDMRs") listed below received the total number of shares shown in the table below. This is 46 per cent of each PDMR's original award, granted in July 2014:

 
      PDMRs       No of Shares 
----------------  ------------ 
 Moya Greene         57,870 
----------------  ------------ 
 Stuart Simpson      27,307 
----------------  ------------ 
 Sue Whalley         38,928 
----------------  ------------ 
 

Also on 28 July 2017, the shares vesting under the GLS LTIP 2014 were transferred to the plan's participants, and to the PDMR listed below:

 
    PDMR     No of Shares 
-----------  ------------ 
 Rico Back      79,346 
-----------  ------------ 
 

Long Term Incentive Plan 2017 (LTIP 2017) Grant

On 28 July 2017, the PDMRs listed below were granted conditional share awards over ordinary shares in Royal Mail plc under the Royal Mail LTIP 2017. The number of shares awarded under the LTIP 2017 is set out in the table below, which is the maximum grant that the PDMRs are eligible for, and will only vest in full if the maximum performance conditions are achieved. Over the last three years, the LTIP has vested, on average, at 59 per cent of the maximum.

 
      PDMRs       No of Shares 
----------------  ------------ 
 Moya Greene        138,602 
----------------  ------------ 
 Stuart Simpson     113,857 
----------------  ------------ 
 Sue Whalley        101,206 
----------------  ------------ 
 

The LTIP 2017 share awards will normally vest at the end of the three year performance period, once the Remuneration Committee has determined achievement against the performance condition. The earliest release date will be 28 July 2020, subject to the participant continuing to hold office or employment within the Royal Mail Group, and then be subject to a two year holding period.

In addition, a conditional share award over ordinary shares in Royal Mail plc was also granted on 28 July 2017 to Rico Back, a PDMR, under the GLS Long Term Incentive Plan. This share award will normally vest on the third anniversary of the Grant Date, subject to the achievement of performance conditions. The earliest release date will be 28 July 2020. The number of shares awarded under the GLS LTIP 2017:

 
    PDMR     No of Shares 
-----------  ------------ 
 Rico Back      53,154 
-----------  ------------ 
 

No consideration was paid for the grant of the share awards.

The PDMRs are bound by the Shareholder Guidelines Policy which sets a minimum shareholding requirement and are expected to retain any shares released under the LTIP until this is achieved.

The attached notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------- 
 a)   Name                       1. Moya Greene 
                                  2. Stuart Simpson 
                                  3. Sue Whalley 
                                  4. Rico Back 
---  -------------------------  ------------------------------------ 
 2    Reason for the notification 
---  --------------------------------------------------------------- 
 a)   Position/status            1. Chief Executive Officer 
                                  2. Chief Finance Officer 
                                  3. Chief Operations Officer 
                                  4. Chief Executive Officer, 
                                  GLS 
---  -------------------------  ------------------------------------ 
 b)   Initial notification        Initial Notification 
       /Amendment 
---  -------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------- 
 a)   Name                       Royal Mail plc 
---  -------------------------  ------------------------------------ 
 b)   LEI                        213800TC22U84G8Z2M70 
---  -------------------------  ------------------------------------ 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  --------------------------------------------------------------- 
 a)   Description of 
       the financial               Ordinary shares of 001 pence 
       instrument, type            each in Royal Mail plc 
       of instrument 
                                   GB00BDVZYZ77 
       Identification 
       code 
---  -------------------------  ------------------------------------ 
 b)   Nature of the              Acquisition of ordinary shares 
       transaction                pursuant to an exercise of 
                                  options under the 2014 Long 
                                  Term Incentive Plan. 
---  -------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)       Price(s)          Volume(s) 
                                   ----------------  ----------- 
                                     GBP3.98 per      1. 57,870 
                                     ordinary share 
                                                       2. 27,307 
                                                       3. 38,928 
                                                       4. 79,346 
                                   ----------------  ----------- 
---  -------------------------  ------------------------------------ 
 d)   Aggregated information     Not applicable - single transaction 
 
 
       - Aggregated volume 
 
 
       - Price 
---  -------------------------  ------------------------------------ 
 e)   Date of the transaction    28 July 2017 
---  -------------------------  ------------------------------------ 
 f)   Place of the transaction   London 
---  -------------------------  ------------------------------------ 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------- 
 a)   Name                       1. Moya Greene 
                                  2. Stuart Simpson 
                                  3. Sue Whalley 
                                  4. Rico Back 
---  -------------------------  ------------------------------------ 
 2    Reason for the notification 
---  --------------------------------------------------------------- 
 a)   Position/status            1. Chief Executive Officer 
                                  2. Chief Finance Officer 
                                  3. Chief Operations Officer 
                                  4. Chief Executive Officer, 
                                  GLS 
---  -------------------------  ------------------------------------ 
 b)   Initial notification        Initial Notification 
       /Amendment 
---  -------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------- 
 a)   Name                       Royal Mail plc 
---  -------------------------  ------------------------------------ 
 b)   LEI                        213800TC22U84G8Z2M70 
---  -------------------------  ------------------------------------ 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  --------------------------------------------------------------- 
 a)   Description of 
       the financial               Ordinary shares of 001 pence 
       instrument, type            each in Royal Mail plc 
       of instrument 
                                   GB00BDVZYZ77 
       Identification 
       code 
---  -------------------------  ------------------------------------ 
 b)   Nature of the              Grant of ordinary shares 
       transaction                under the 2017 Long Term 
                                  Incentive Plan 
---  -------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ------------ 
                                     Nil       1. 138,602 
                                                2. 113,857 
                                                3. 101,206 
                                                4. 53,154 
                                   ---------  ------------ 
---  -------------------------  ------------------------------------ 
 d)   Aggregated information     Not applicable - single transaction 
 
 
       - Aggregated volume 
 
 
       - Price 
---  -------------------------  ------------------------------------ 
 e)   Date of the transaction    28 July 2017 
---  -------------------------  ------------------------------------ 
 f)   Place of the transaction   London 
---  -------------------------  ------------------------------------ 
 

Contacts:

Company Secretariat

Kulbinder Dosanjh

Phone: [phone]

Email: [e-mail]

Media

Andrew Moys

Phone: [phone]

Email: [e-mail]

Royal Mail press office out of hours: 020 3338 1007

Investor Relations

Catherine Nash

Phone: [phone]

Email: [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 28, 2017 08:00 ET (12:00 GMT)