National Express Group PLC Director/PDMR Shareholding (6953N)

TIDMNEX

RNS Number : 6953N

National Express Group PLC

10 May 2018

National Express Group PLC

10 May 2018

NATIONAL EXPRESS GROUP PLC

("Company")

Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

The Company provides notification of the following transaction effected on 10 May 2018 outside of a trading venue relating to Chris Davies (a PDMR) and his interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

The transaction arises following the vesting of Mr Davies' First Recruitment Incentive Award ("Award") granted to him under the terms of the Company's Long-Term Incentive Plan 2015 ("LTIP") on 10 May 2017 when he joined the Company. The performance-conditioned Award vested at a rate of 96.7% on 10 May 2018. (Full details of the Award, the performance conditions and vesting are set out in the Directors Remuneration Report to the Company's 2017 Annual Report.)

 
 Name and          Number of         Number of          Number of        Total beneficial      Total other 
  position          Shares subject    Shares vested      Shares lapsed    interest              interest 
  of PDMR           to original       under option(1)                     held in               held in 
                    Award                                                 Shares following      Shares following 
                                                                          the transaction(2)    the transaction(3) 
-----------------  ---------------  -----------------  ---------------  --------------------  -------------------- 
  Chris Davies, 
   Group Finance 
   Director           31,867          30,816             1,051            3,000                 409,906 
-----------------  ---------------  -----------------  ---------------  --------------------  -------------------- 
 

(1) The Award was granted in the form of a nil cost option. Malus and clawback apply to the vested Shares for two years form the date of vesting. Upon exercise, all Shares will be delivered through the transfer of market purchased Shares from the Company's Employee Benefit Trust.

(2) Including those held by connected persons.

(3) Under the Company's Executive Deferred Bonus Plan and LTIP.

The Company can confirm that Chris Davies has complied with his obligation to notify the Financial Conduct Authority in respect of the above transaction as is his requirement under the EU Market Abuse Regulation.

   -     END    - 

National Express contact and telephone number for enquiries:

Michael Arnaouti, Group Company Secretary

++44 (0) 207 805 3807

Notes

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

This information is provided by RNS

The company news service from the London Stock Exchange

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May 10, 2018 10:30 ET (14:30 GMT)