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COB Cobham Plc

164.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cobham Plc LSE:COB London Ordinary Share GB00B07KD360 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 164.50 164.50 164.55 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Cobham plc Director/PDMR Shareholding (9253S)

14/03/2019 2:20pm

UK Regulatory


Cobham (LSE:COB)
Historical Stock Chart


From Mar 2019 to Mar 2024

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TIDMCOB

RNS Number : 9253S

Cobham plc

14 March 2019

14 March 2019

Cobham plc

LEI 213800A41R9NL49E5632

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Cobham plc (the "Company") announces the following transactions of Directors, persons discharging managerial responsibility or connected persons:

On 13 March 2019, the RSP Buy-out award of 55,842 shares issued to David Lockwood vested. There were no performance conditions attaching to this award as it related to deferred shares forfeited as a consequence of joining Cobham. 26,246 shares were sold to cover tax and other deductions due on that vest, at a price of 115.2 pence per share. Mr Lockwood retained the balance of 29,596 shares as required by his shareholding requirement.

 
  1       Name of person discharging managerial 
           responsibilities ('PDMR') / 
           connected person (if applicable):         David Lockwood 
------  --------------------------------------- 
  2a                                               CEO 
            Position / status 
          Initial notification / amendment         Initial Notification 
    2b 
  3a      Details of the Issuer                    Cobham plc 
  3b      Legal Entity Identifier 
                                                     213800A41R9NL49E5632 
  4a      Description of financial instrument      Cobham plc Ordinary 
                                                    2.5p shares 
          Identification Code                      GB00B07KD360 
  4b      Nature of the transaction                Sale of RSP Buy-out 
                                                    Share awards to cover 
                                                    deductions 
  4c      Price per share                          115.2 pence 
------  --------------------------------------- 
          Volume of the transaction                26,246 shares 
------  ---------------------------------------  ------------------------ 
  4d      Aggregated Information                   Volume: 26,246 
                                                    Price: GBP1.152 
                                                    Total: GBP30,235.39 
------  ---------------------------------------  ------------------------ 
  4e      Date of transaction                      2019 03 13 
------  ---------------------------------------  ------------------------ 
  4f      Place of Transaction                     London Stock Exchange 
                                                    XLON 
------  ---------------------------------------  ------------------------ 
 

As a consequence of joining Cobham, David Lockwood also forfeited shares held under a long-term incentive plan at his previous employer. A buy-out award was provided in respect of the forfeited shares, with vesting of the buy-out subject to achievement of stretching EPS performance targets for Cobham's 2018 financial year.

Based on the final EPS performance achieved in 2018, on 13 March 2019 the buy-out award vested at 54.54% of maximum, resulting in David Lockwood receiving 427,046 shares out of the 782,918 shares issued under the award. 201,168 shares were sold to cover tax and other deductions due on that vest, at a price of 115.2 pence per share. The remaining balance of 225,878 shares are subject to a further two year holding period post vesting.

In reviewing performance against the targets, the Remuneration Committee considered that it was appropriate to apply discretion to make adjustments to the underlying EPS targets and actuals. These reflected the divestments of the AvComm and Wireless test and measurement businesses, including debt repayment, and were intended to ensure that performance was measured on an equivalent like for like basis.

As a result, the 2018 adjusted EPS targets attached to the award were 5.1p at threshold, 5.6p at target and 6.7p at maximum, and the final outcome was an adjusted 2018 underlying EPS of 5.7p. For completeness, the original (unadjusted) targets were 5.6p at threshold, 6.1p at target and 7.3p at maximum.

 
  1       Name of person discharging managerial 
           responsibilities ('PDMR') / 
           connected person (if applicable):         David Lockwood 
------  --------------------------------------- 
  2a                                               CEO 
            Position / status 
          Initial notification / amendment         Initial Notification 
    2b 
  3a      Details of the Issuer                    Cobham plc 
  3b      Legal Entity Identifier 
                                                     213800A41R9NL49E5632 
  4a      Description of financial instrument      Cobham plc Ordinary 
                                                    2.5p shares 
          Identification Code                      GB00B07KD360 
  4b      Nature of the transaction                Sale of PSP Buy-out 
                                                    Share awards to cover 
                                                    deductions 
  4c      Price per share                          115.2 pence 
------  --------------------------------------- 
          Volume of the transaction                201,168 shares 
------  ---------------------------------------  ------------------------ 
  4d      Aggregated Information                   Volume: 201,168 
                                                    Price: GBP1.152 
                                                    Total: GBP231,745.54 
------  ---------------------------------------  ------------------------ 
  4e      Date of transaction                      2019 03 13 
------  ---------------------------------------  ------------------------ 
  4f      Place of Transaction                     London Stock Exchange 
                                                    XLON 
------  ---------------------------------------  ------------------------ 
 

Name of contact and telephone number for queries:

Lyn Colloff, Company Secretary

01202 857552

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 14, 2019 10:20 ET (14:20 GMT)

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