Director/PDMR Shareholding

RNS Number : 7893T

easyJet PLC

18 December 2012

 

easyJet plc

Director/PDMRs shareholdings

18 December 2012

easyJet plc announces that the PDMRs below have been awarded the following shares under the easyJet Long Term Incentive Plan ('LTIP'):

Preferred Name	Surname	Grant Shares	Matching Shares	Total Shares
Carolyn	McCall	180,461	86,438	266,899
Warwick	Brady	75,773	12,211	87,984
Chris	Kennedy	83,446	16,878	100,324
Alita	Benson	32,360	2,713	35,073
Mike	Campbell	46,294	-	46,294
Trevor	Didcock	39,116	13,478	52,594
Peter	Duffy	39,497	-	39,497
Catherine	Lynn	39,497	2,771	42,268
Paul	Moore	32,225	-	32,225
Giles	Pemberton	38,161	-	38,161

The share price at the time of grant was 737p.  

easyJet has consulted widely with shareholders and has recently reviewed its remuneration arrangements to take account of shareholders comments and against best practise.  The above shares vest in three years time, subject to the performance conditions shown below:

1.   ROCE - 50% of awards to be based on the following average (lease adjusted) ROCE targets for performance in the three financial years commencing with the financial year in which the award is granted. 

ROCE	Vesting % (of ROCE part of award)
Below 12%	0%
12%	25%
16%	100%
Straight line vesting between performance points.

2.   Total Shareholder Return - 50% of awards to be based on the following TSR targets, relative to organisations in the FTSE 51 to 150:

Ranking of easyJet's TSR	Vesting % (of TSR part of award)
Below median	0%
Median	25%
Upper quartile	100%
Straight line vesting between performance points.

In addition to the above, the TSR portion will not vest unless the company has achieved positive TSR performance over the period.

For further details, please contact:

Rachel Kentleton, Investor Relations       07961 754 468

Ed Simpkins, Finsbury                              07947 740 551

 

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