Director/PDMR Shareholding

RNS Number : 5021K

Dixons Carphone PLC

07 July 2017

 

7 July 2017

 

DIXONS CARPHONE PLC

 (the 'Company')

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PDMRS

Vesting of shares under The Dixons Carphone plc 2013 Share Plan (the 'Share Plan')

The Company announces that on 6 July 2017, the following director received ordinary shares of 0.1p each in the Company ('Shares') as a consequence of awards made on 20 December 2013 under the Share Plan. The Shares have been retained.

Name of Director / PDMR	Number of Shares vesting
Andrew Harrison	281,745

The performance of the plan was measured at the end of the performance period on 5 July 2017 and both the performance conditions of Absolute and Relative TSR have been met. The number of Shares awarded to the director is equivalent to the value of 60% of his share of the incentive pool created as a consequence of the award vesting. The remaining 40% of the award value will be held in cash and released after a further year.

Award under The Dixons Carphone plc Long Term Incentive Plan 2016 (the 'LTIP')

On 7 July 2017 Andrew Lawley, a PDMR of the Company, was granted an award of unrestricted shares pursuant to the Company's LTIP, which was approved by shareholders at the Company's annual general meeting last year. The share price for the award was calculated using the mid-market price on 6 July 2017.

Name of PDMR	Award Value (£)	Number of Shares received	Number of Shares sold to cover taxes and costs	Number of Shares retained net of taxes and costs	Price at which Shares were sold
Andrew Lawley	375,000	130,253	61,219	69,034	288p

Surrender of Restricted Share Awards ('RSAs') and Award of LTIPs

As notified on 29 June 2017, two PDMRs of the Company were granted RSAs on 29 June 2017.  The Company's approach to long-term incentives is that its most senior employees should receive performance-based LTIP awards rather than RSAs.  Accordingly, on 7 July 2017 the two PDMRs surrendered the RSAs granted to them on 29 June 2017 and have now been granted performance-based LTIP awards. The PDMRs are identified in the table below:

Name of PDMR	Award Value (£)	Maximum number of Shares represented by the options granted on the date of this announcement	Exercise Price
Feilim Mackle	1,125,000	390,760	Nil
Andrew Lawley	937,500	325,634	Nil

The number of Shares stated is the maximum number that could be issued to each PDMR upon full satisfaction of the performance conditions attaching to the awards. The arrangements are intended to align the PDMRs' interests with shareholders and the Company's strategic plan.

The number of Shares which will vest after the three-year performance period, from 30 April 2017 to the final day of the 2019/20 financial year, will depend on continued service and the extent to which the performance conditions applicable to these awards are achieved. The Shares will be subject to an additional two-year holding period from the date of vesting.

The performance conditions attaching to the LTIP 2017 are based on the achievement of two equally weighted performance metrics as follows:

1)    Relative Total Shareholder Return ('TSR')

·   50% of the awards will be subject to the achievement of a relative TSR performance condition, measured against the companies ranked FTSE 51- 150 over the performance period. The starting point for measurement will be 30 April 2017 and the closing point will be the final day of the 2019/20 financial year with one month averaging periods up to the beginning and end of the performance period. 25% of this portion of the award will pay out for achievement of median TSR versus the comparator group, with maximum vesting at upper quartile or above and straight-line vesting between these two points.

2)    Earnings Per Share ('EPS') Growth

·   50% of the award will be measured against EPS growth over the performance period. 25% of this portion of the award will vest for growth of 7.5% in total over the three-year period, rising on a straight-line basis to full vesting for growth of 20% in total.

As at the date of this announcement, the Company has 1,155,792,865 Shares in issue.

This announcement is made in accordance with the requirements of Market Abuse Regulation Article 19.

For further information:

Nigel Paterson	Company Secretary and General Counsel	[phone]
Kate Ferry	IR, PR and Corporate Affairs Director	[phone]

PDMR DEALING NOTIFICATION
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Harrison
2	Reason for the notification
a)	Position / status	Deputy Chief Executive
b)	Initial notification / Amendment	Initial notification
3	Details of issuer
a)	Name	Dixons Carphone plc
b)	LEI	2138001E12GWLLDQQF16
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	Ordinary shares in Dixons Carphone plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Vesting of shares pursuant to The Dixons Carphone plc 2013 Share Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	281,745
d)	Aggregated information	Aggregated price	Aggregated volume
		N/A (single transaction)	N/A (single transaction)
e)	Date of the transaction	2017-07-06
f)	Place of the transaction	Outside a trading venue

PDMR DEALING NOTIFICATION
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Lawley
2	Reason for the notification
a)	Position / status	Group Strategy Director
b)	Initial notification / Amendment	Initial notification
3	Details of issuer
a)	Name	Dixons Carphone plc
b)	LEI	2138001E12GWLLDQQF16
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	Ordinary shares in Dixons Carphone plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Award under The Dixons Carphone plc Long Term Incentive Plan 2016
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	130,253
d)	Aggregated information	Aggregated price	Aggregated volume
		N/A (single transaction)	N/A (single transaction)
e)	Date of the transaction	2017-07-07
f)	Place of the transaction	Outside a trading venue

PDMR DEALING NOTIFICATION
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Lawley
2	Reason for the notification
a)	Position / status	Group Strategy Director
b)	Initial notification / Amendment	Initial notification
3	Details of issuer
a)	Name	Dixons Carphone plc
b)	LEI	2138001E12GWLLDQQF16
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	Ordinary shares in Dixons Carphone plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Disposal of shares to meet income tax and national insurance obligations pursuant to a share award made under The Dixons Carphone plc Long Term Incentive Plan 2016
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£2.88	61,219
d)	Aggregated information	Aggregated price	Aggregated volume
		N/A (single transaction)	N/A (single transaction)
e)	Date of the transaction	2017-07-07
f)	Place of the transaction	Outside a trading venue

PDMR DEALING NOTIFICATION
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Feilim Mackle
2	Reason for the notification
a)	Position / status	CEO Services
b)	Initial notification / Amendment	Initial notification
3	Details of issuer
a)	Name	Dixons Carphone plc
b)	LEI	2138001E12GWLLDQQF16
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	Ordinary shares in Dixons Carphone plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Surrender of Restricted Share Awards granted on 29 June 2017
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	191,522
d)	Aggregated information	Aggregated price	Aggregated volume
		N/A (single transaction)	N/A (single transaction)
e)	Date of the transaction	2017-07-07
f)	Place of the transaction	Outside a trading venue

PDMR DEALING NOTIFICATION
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Lawley
2	Reason for the notification
a)	Position / status	Group Strategy Director
b)	Initial notification / Amendment	Initial notification
3	Details of issuer
a)	Name	Dixons Carphone plc
b)	LEI	2138001E12GWLLDQQF16
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	Ordinary shares in Dixons Carphone plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Surrender of Restricted Share Awards granted on 29 June 2017
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	159,602
d)	Aggregated information	Aggregated price	Aggregated volume
		N/A (single transaction)	N/A (single transaction)
e)	Date of the transaction	2017-07-07
f)	Place of the transaction	Outside a trading venue

PDMR DEALING NOTIFICATION
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Feilim Mackle
2	Reason for the notification
a)	Position / status	CEO Services
b)	Initial notification / Amendment	Initial notification
3	Details of issuer
a)	Name	Dixons Carphone plc
b)	LEI	2138001E12GWLLDQQF16
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	Ordinary shares in Dixons Carphone plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Grant of nil-cost options under The Dixons Carphone plc Long Term Incentive Plan 2016
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	390,760
d)	Aggregated information	Aggregated price	Aggregated volume
		N/A (single transaction)	N/A (single transaction)
e)	Date of the transaction	2017-07-07
f)	Place of the transaction	Outside a trading venue

PDMR DEALING NOTIFICATION
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Lawley
2	Reason for the notification
a)	Position / status	Group Strategy Director
b)	Initial notification / Amendment	Initial notification
3	Details of issuer
a)	Name	Dixons Carphone plc
b)	LEI	2138001E12GWLLDQQF16
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	Ordinary shares in Dixons Carphone plc
	Identification code	GB00B4Y7R145
b)	Nature of the transaction	Grant of nil-cost options under The Dixons Carphone plc Long Term Incentive Plan 2016
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	325,634
d)	Aggregated information	Aggregated price	Aggregated volume
		N/A (single transaction)	N/A (single transaction)
e)	Date of the transaction	2017-07-07
f)	Place of the transaction	Outside a trading venue

 - Ends -

 

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