easyJet PLC Director/PDMR Shareholding (2671O)

TIDMEZJ

RNS Number : 2671O

easyJet PLC

05 February 2016

easyJet plc ("the Company")

Director/PDMR shareholding

05 February 2016

The Company announces that on 3 February 2016, the PDMR set out below exercised his award granted on 18 December 2012 under the easyJet Long Term Incentive Plan ('LTIP') and subsequently sold the number of ordinary shares of 27 and 2/7 pence set out against his name below.

 
 Name       Number of      Number of      Number      Sale price 
             LTIP awards    LTIP shares    of LTIP 
             exercised      sold           shares 
                                           retained 
---------  -------------  -------------  ----------  ----------- 
 Warwick 
  Brady        87,984         41,457       46,527     GBP15.8145 
---------  -------------  -------------  ----------  ----------- 
 

The LTIP award grant on 18 December 2012 was based on a share price of GBP7.37. The LTIP award vested on 18 December 2015 at 100% of the total award. Of this, 50% vesting required easyJet's ROCE to achieve targets of at least 16%. The targets were based on three year average ROCE (excluding operating lease adjustments) performance for the years ended 30 September 2013, 30 September 2014 and 30 September 2015 ("the Performance Period"). The Company achieved an average ROCE of 20% for the three financial years ended 30 September 2015.

The remaining 50% required a Total Shareholder Return (TSR) over the Performance Period to be in the upper quartile of a comparator group comprising the constituents of the FTSE 51 to FTSE 150 (as at the date of grant), the Company was ranked in the top decile in terms of TSR relative to FTSE 51-150 companies. The vesting of the TSR portion of the award was subject to having a positive TSR over the period, this was met with a return of 236% for investment in easyJet shares in the period.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rules 3.1.2R and 3.1.4R. The Company received notification of the LTIP transactions on 3 February 2016.

For further details, please contact:

Institutional investors and analysts

 
Stuart Morgan, Investor Relations    07989 665 484 
Michael Barker, Investor Relations   07985 890 939 
 

Media:

 
Paul Moore, Corporate Communications     07860 794 444 
Anna Knowles, Corporate Communications   07985 873 313 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 05, 2016 09:10 ET (14:10 GMT)