Director/PDMR Shareholding

RNS Number : 7945A

BAE SYSTEMS PLC

28 March 2017

 

Director/PDMR Shareholding

BAE Systems plc announces that certain Persons Discharging Management Responsibility (PDMRs) have:

·    exercised options to acquire ordinary 2.5p shares in BAE Systems plc;

·    acquired ordinary 2.5p shares derived from performance and restricted share awards granted under the Company's long-term incentive plans at nil consideration;

and a number of the shares were subsequently sold.

The details of these transactions, which took place on the London Stock Exchange, are set out below.

In addition, Elizabeth Bramwell, a Closely Associated Person to a PDMR, yesterday sold 5,000 ordinary 2.5p shares in BAE Systems at a price of 640.6643 pence per share. This transaction also took place on the London Stock Exchange.

1.   BAE Systems Executive Share Option Plan

	Number of shares under option exercised	Option price (per share)	Shares sold*	Shares retained	Sale price (per shares)
Philip Bramwell	150,092	411.5 pence	53,587	Nil	640.0 pence
Alan Garwood	135,749	411.5 pence	26,561	21,796	639.20 pence
Guy Griffiths	298,167	411.5 pence	106,228	Nil	639.245 pence

* Share options settled on net settled basis, ie the Company only issued shares to the value of the difference between the option price and the market price on exercise.

2.   BAE Systems Performance Share Plan

	Number of shares exercised	Number of shares sold	Sale price (per share)
Thomas Arseneault*	11,474	9,980	645.65 pence
Guy Griffiths	4,735	4,735	639.245 pence

*This relates to a contingent award, rather than an option.

3. BAE Systems Restricted Share Plan

	Number of shares acquired	Number of shares sold	Sale price (per share)
Thomas Arseneault	84,105	73,154	645.65 pence
Jerry DeMuro	157,440	75,288	645.65 pence

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tom Arseneault
2	Reason for the notification
a)	Position/status	Chief Operating Officer, BAE Systems, Inc.
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BAE Systems plc
b)	LEI	8SVCSVKSGDWMW2QHOH83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 2.5p each in BAE Systems plc GB0002634946
b)	Nature of the transaction	Acquisition of shares under the Restricted Share Plan and Performance Share Plan, the subsequent disposal of some of those shares and retention of the balance of shares
c)	Price(s) and volume(s)	Price Volume Acquisition of shares on release of share awards Nil 95,579 Sale of shares, including those sold to satisfy tax  liabilities £6.4565 83,134 Shares retained 12,445
d)	Aggregated information - Aggregated volume - Price	Acquisition Volume:  95,579 Price GBP:  Nil Shares sold (including those sold to satisfy tax  liabilities) Volume:  83,134 Price GBP:  £536,754.67
e)	Date of the transaction	2017-03-27
f)	Place of the transaction	XLON - London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Philip Bramwell
2	Reason for the notification
a)	Position/status	Group General Counsel
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BAE Systems plc
b)	LEI	8SVCSVKSGDWMW2QHOH83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 2.5p each in BAE Systems plc GB0002634946
b)	Nature of the transaction	Exercise of share options and the subsequent disposal of those shares
c)	Price(s) and volume(s)	Price Volume Acquisition of shares on exercise of share option £4.115 150,092 Shares retained to settle the cost of exercise £6.40 96,505 Sale of shares, including those sold to satisfy income tax and NIC liability £6.40 53,587 Shares Retained Nil
d)	Aggregated information - Aggregated volume - Price	Aggregated volume: Exercise Volume:  150,092 Price GBP:  £617,628.58 Shares retained to settle the cost of exercise Volume:  96,505 Price GBP:  £617,632.00 Shares sold (including those sold to satisfy income tax and NIC liability) Volume:  53,587 Price GBP:  £342,956.80
e)	Date of the transaction	2017-03-27
f)	Place of the transaction	XLON - London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Elizabeth Bramwell
2	Reason for the notification
a)	Position/status	Closely Associated Person to Philip Bramwell, Group General Counsel
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BAE Systems plc
b)	LEI	8SVCSVKSGDWMW2QHOH83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 2.5p each in BAE Systems plc GB0002634946
b)	Nature of the transaction	Disposal of shares
c)	Price(s) and volume(s)	Volume:  5,000 Price GBP:  £6.406643
d)	Aggregated information - Aggregated volume - Price	Aggregated volume: 5,000 £32,033.22
e)	Date of the transaction	2017-03-27
f)	Place of the transaction	XLON - London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jerry DeMuro
2	Reason for the notification
a)	Position/status	President & Chief Executive Officer, BAE Systems, Inc. and Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BAE Systems plc
b)	LEI	8SVCSVKSGDWMW2QHOH83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 2.5p each in BAE Systems plc GB0002634946
b)	Nature of the transaction	Acquisition of shares under the Restricted Share Plan, the subsequent disposal of some of those shares and retention of the balance of shares
c)	Price(s) and volume(s)	Price Volume Acquisition of shares on release of share award Nil 157,440 Sale of shares, including those sold to satisfy tax  liabilities £6.4565 75,288 Shares retained 82,152
d)	Aggregated information - Aggregated volume - Price	Acquisition Volume:  157,440 Price GBP:  Nil Shares sold (including those sold to satisfy tax  liabilities) Volume:  75,288 Price GBP:  £486,096.97
e)	Date of the transaction	2017-03-27
f)	Place of the transaction	XLON - London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alan Garwood
2	Reason for the notification
a)	Position/status	Group Business Development Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BAE Systems plc
b)	LEI	8SVCSVKSGDWMW2QHOH83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 2.5p each in BAE Systems plc GB0002634946
b)	Nature of the transaction	Exercise of share options, the sale of some of those shares and retention of the balance of shares
c)	Price(s) and volume(s)	Price Volume Acquisition of shares on exercise of share option £4.115 135,749 Shares retained to settle the cost of exercise £6.392 87,392 Sale of shares, including those sold to satisfy income tax and NIC liability £6.392 26,561 Shares retained 21,796
d)	Aggregated information - Aggregated volume - Price	Aggregated volume: Exercise Volume:  135,749 Price GBP:  £558,607.14 Shares retained to settle the cost of exercise Volume:  87,392 Price GBP:  £558,609.66 Shares sold (including those sold to satisfy income tax and NIC liability) Volume:  26,561 Price GBP:  £169,777.91
e)	Date of the transaction	2017-03-27
f)	Place of the transaction	XLON - London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Guy Griffiths
2	Reason for the notification
a)	Position/status	Group Managing Director, International
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BAE Systems plc
b)	LEI	8SVCSVKSGDWMW2QHOH83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 2.5p each in BAE Systems plc GB0002634946
b)	Nature of the transaction	Exercise of share options and the subsequent disposal of those shares
c)	Price(s) and volume(s)	Price Volume Acquisition of shares on exercise of share option £4.115 298,167 Shares retained to settle the cost of exercise £6.39245 191,939 Sale of shares, including those sold to satisfy income tax and NIC liability £6.39245 106,228 Share Retained Nil
d)	Aggregated information - Aggregated volume - Price	Aggregated volume: Exercise Volume:  298,167 Price GBP:  £1,226,957.21 Shares retained to settle the cost of exercise Volume:  191,939 Price GBP:  £1,226,960.46 Shares sold (including those sold to satisfy income tax and NIC liability) Volume:  106,228 Price GBP:  £679,057.18
e)	Date of the transaction	2017-03-27
f)	Place of the transaction	XLON - London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Guy Griffiths
2	Reason for the notification
a)	Position/status	Group Managing Director, International
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BAE Systems plc
b)	LEI	8SVCSVKSGDWMW2QHOH83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 2.5p each in BAE Systems plc GB0002634946
b)	Nature of the transaction	Exercise of nil cost options under the Performance Share Plan and the subsequent disposal of those shares
c)	Price(s) and volume(s)	Price Volume Acquisition of shares on exercise of share option Nil 4,735 Sale of shares, including those sold to satisfy income tax and NIC liability £6.39245 4,735 Shares Retained Nil
d)	Aggregated information - Aggregated volume - Price	Aggregated volume: Exercise Volume:  4,735 Price GBP:  Nil Shares sold (including those sold to satisfy income tax and NIC liability) Volume:  4,735 Price GBP:  £30,268.25
e)	Date of the transaction	2017-03-27
f)	Place of the transaction	XLON - London Stock Exchange

 

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