Director/PDMR Shareholding

RNS Number : 8597D

AstraZeneca PLC

29 March 2011

 



Transaction by Person Discharging Managerial Responsibilities

Disclosure Rule DTR 3.1.4

The interest of David Brennan, a Director of the Company, in AstraZeneca PLC ordinary shares, has changed as detailed below. 

On 28 March 2011, Mr Brennan received shares from the vesting of a previously announced award made in March 2008 under the AstraZeneca Performance Share Plan (AZPSP) whereby, following the application of performance measures specified at the time of grant, he has now become beneficially entitled to 125% of the shares originally awarded.   Sufficient shares were withheld to cover certain tax obligations arising on the vesting.

Name	Shares awarded	Shares vested	Shares withheld	Net shares received	Market price on vesting
David R Brennan	161,546	201,932	103,713	98,219	2874p

On 29 March 2011, Mr Brennan sold 50,000 of the 98,219 net shares received at a price of 2855 pence per share.

On 28 March 2011, Mr Brennan was also granted awards under the terms of the AstraZeneca Investment Plan (AZIP) and the AZPSP over the Company's ordinary shares. 

Name	Shares awarded under AZIP	Shares awarded under AZPSP	Award price per share
David R Brennan	21,845	131,075	2853p

The AZIP was approved by shareholders at the Company's AGM in 2010.  These AZIP awards are subject to a four-year performance period and a subsequent four-year holding period.

The performance hurdle that applies to these AZIP awards relates to dividends and dividend cover. A summary of the AZIP can be found in the AstraZeneca Annual Report and Form 20-F Information 2010 which is available on the Company's website www.astrazeneca.com.

The AZPSP was approved by shareholders at the Company's AGM in 2005.  Awards made under the AZPSP may not generally vest before the third anniversary of the relevant date of grant, nor unless the specified performance target(s) have been met at the end of the three-year performance period which, for these awards, is 1 January 2011 to 31 December 2013.

The performance target that applies to these AZPSP awards relates to relative total shareholder return and cash flow.  A summary of the AZPSP can be found in the AstraZeneca Annual Report and Form 20-F Information 2010 which is available on the Company's website www.astrazeneca.com.

Mr Brennan has interests in both the ordinary shares and the American Depositary Shares (ADSs) of AstraZeneca PLC.  One ADS equals one ordinary share.

As a result of these transactions, Mr Brennan has an interest in 656,420 ordinary shares and 80,074 AstraZeneca ADSs, which together represent approximately 0.05% of the Company's issued ordinary capital.

A C N Kemp

Company Secretary

29 March 2011

 

END

 

 

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