Director/PDMR Shareholding

RNS Number : 4304K

British Land Co PLC

24 June 2014

 



Long-Term Incentive Plan ("LTIP") Grant

The British Land Company PLC (the "Company") announces that conditional awards of the Company's ordinary shares of 25p each, under the Company's LTIP,  were made to Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") on 23 June 2014 as outlined below, pursuant to a recommendation of the Company's Remuneration Committee.

	Performance Shares at nil consideration	Options at 684.3p
Directors
Chris Grigg	233,804	-
Lucinda Bell	135,898	-
Charles Maudsley	124,208	-
Tim Roberts	124,208	-
PDMRs
Simon Carter	36,166	48,222
Joff Sharpe	37,262	74,524
Jean-Marc Vandevivere	50,633	-
Nigel Webb	80,370	-

The above Performance Shares conditionally vest on the third anniversary of grant. The Options are conditionally exercisable from the third until the tenth anniversary of grant.

Save As You Earn ("SAYE") Option Scheme Grant

The Company also announces the following grants of options over the Company's ordinary shares of 25p each, under its SAYE Option Scheme, to Directors and PDMRs of the Company, as detailed below.

Name	Scheme Duration	Options granted at 574p each
Directors
Lucinda Bell	3 years	1,567
Tim Roberts	5 years	3,135
PDMRs
Simon Carter	3 years	1,567
Jean-Marc Vandevivere	3 years	1,567
Nigel Webb	3 years	3,135

The SAYE contracts commence on 1 September 2014 with all options being granted on 23 June 2014 at an exercise price of 574p per share.

Permitted exercise periods are for a period of six months running from 1 September 2017 to 28 February 2018 for the 3 year scheme, and from 1 September 2019 to 29 February 2020 for the 5 year scheme.

Fund Managers Performance Plan ("FMPP") Vesting

The Company announces that on 23 June 2014 it received notification from the Trustees of The British Land Share Ownership Plan that, on 23 June 2014, part of the FMPP Award granted to Nigel Webb, a PDMR, on 21 June 2011, vested. Nigel Webb thus received 26,121 ordinary shares of 25p each in the Company. Following the vesting, Nigel Webb sold 12,320 of his newly vested shares at a price of 677.5p per share to cover his tax liability.

 

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