Director/PDMR Shareholding

RNS Number : 4202P
BAE SYSTEMS PLC
24 March 2009
 




BAE SYSTEMS plc


NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR THEIR CONNECTED PERSONS



Notifications made in accordance with DTR 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules:


(i)  The Company was notified yesterday that the following PDMRs exercised options over ordinary shares of 2.5 pence each in BAE Systems plc under the BAE Systems Performance Share Plan at nil consideration on 24 March 2009. Some of the shares were subsequently disposed of on 24 March 2009 as indicated below.  These transactions took place on the London Stock Exchange.  


Name of PDMR

No. of shares under option exercised

No. of shares sold

Price per share at which sold

Andrew Davies

8,997

4,393

353.25 pence

Walt Havenstein*

20,211

9,113

349.1 pence

Mike Heffron*

7,072

1,841

349.1 pence

Alastair Imrie

39,014

19,042

353.25 pence

Ian King

49,311

24,067

353.25 pence


These relate to a contingent award, rather than an option, under the BAE Systems Performance Share Plan.  


(ii) The Company was yesterday notified by the trustee of the BAE Systems ESOP Trust, IFG Trust (Jersey) Limited, that the following PDMRs purchased ordinary shares of 2.5p each in BAE Systems plc at a consideration of 342.75 pence per share ('Investment Shares') under the BAE Systems Share Matching Plan on 24 March 2009. The transaction took place on the London Stock Exchange and the shares are held in the name of IFG Trust (Jersey) Limited. The same PDMRs were concurrently awarded a contingent interest in ordinary shares of 2.5p each in BAE Systems plc at nil consideration ('Award Shares') also under the BAE Systems Share Matching Plan. The number of shares acquired were as follows:  


Name of PDMR

Number of Investment Shares acquired (beneficial interest)

Number of Award Shares acquired (contingent interest)

Philip Bramwell

36,675

124,322

Andrew Davies

24,470

82,949

Alan Garwood

15,946

54,054

Guy Griffiths

23,407

79,345

Walt Havenstein

74,346

252,020

Mike Heffron

27,257

92,396

Linda Hudson

29,473

99,908

Alastair Imrie

38,280

129,762

Ian King

109,627

371,616

Charlotte Lambkin

8,437

28,600

George Rose

51,747

175,413

Nigel Whitehead

41,018

139,044


(iii The Company yesterday granted options under the BAE Systems Performance Share Plan to the following PDMRs as set out below:


Name of PDMR

Number of shares granted under option

Philip Bramwell

182,932

Andrew Davies

144,420

Alan Garwood

178,118

Guy Griffiths

173,304

Walt Havenstein*

483,977

Mike Heffron*

186,337

Linda Hudson*

209,626

Alastair Imrie

193,522

Ian King

656,455

Charlotte Lambkin

120,350

George Rose

454,048

Nigel Whitehead

204,595


The above options granted on 24 March 2009 are over ordinary shares of 2.5p each in BAE Systems plc at nil consideration. The options are exercisable in three tranches between 24.03.12 and 24.03.16 subject to the attainment of performance conditions.


A conditional award of shares was granted on 24 March 2009 over ordinary shares of 2.5p each BAE Systems plc at nil consideration as set out above. The award vests in three tranches between 24.03.12 and 24.03.14 subject to the attainment of performance conditions.



25 March 2009


        


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