Director/PDMR Shareholding

RNS Number : 4332D

easyJet PLC

28 January 2015

easyJet plc ("the Company")

Director/PDMR shareholding

28 January 2015

The Company announces that on 27 and 28 January 2015, the PDMRs and Directors set out below exercised their award under the easyJet Long Term Incentive Plan ('LTIP') and subsequently sold and retained the resulting number of ordinary shares of 27 and 2/7 pence ('Shares') set out against their names below. The sale price per share for those exercised LTIPs which were subsequently sold was £17.851.

In addition Carolyn McCall and Chris Kennedy each sold 100,000 ordinary shares held beneficially outside of the LTIP, as reflected in the "Number of Shares sold" column below on 27 January 2015. The sale price per share for these shares was £17.847.

Name	Number of awards exercised⁽¹⁾	Number of shares sold	Number of shares retained	Total holding following transaction	% of total voting rights following transaction
Carolyn McCall	552,999	473,943⁽²⁾	179,056	328,552	0.083
Chris Kennedy	292,999	268,283⁽²⁾	124,716	140,174	0.035
Giles Pemberton	180,142	119,560	60,582	77,553	0.020
Trevor Didcock	132,230	62,304	69,926	89,912	0.023
Warwick Brady	76,087	76,087	0	54,806	0.014
Peter Duffy	57,281	57,281	0	16,005	0.004
Paul Moore	50,000	50,000	0	17,959	0.005
Rachel Kentleton	21,551	19,151	2,400	9,440	0.002

Note 1: The awards exercised by each PDMR/Director listed above consisted of:

a) Carolyn McCall: 214,405 2011 LTIPs and 338,594 2012 LTIPs

b) Chris Kennedy: 57,161 2011 LTIPs and 235,838 2012 LTIPs

c) Giles Pemberton: 65,580 2011 LTIPs and 114,562 2012 LTIPs

d) Trevor Didcock: 132,230 2012 LTIPs

e) Warwick Brady: 76,087 2011 LTIPs

f) Peter Duffy: 57,281 2012 LTIPs

g) Paul Moore: 50,000 2012 LTIPs

h) Rachel Kentleton: 152 2011 LTIPs and 21,399 2012 LTIPs

Note 2: This figure includes the 100,000 shares sold in addition to the LTIP.

The Executive Directors (i.e. Carolyn McCall and Chris Kennedy) have retained the after-tax value of their 2012 LTIPs, and all the PDMRs listed above have retained shares in line with easyJet's shareholding guidelines policy as set out on page 85 of the 2014 Annual report and accounts

The 2011 LTIP award grant on 31 March 2011 (the '2011 LTIP') was based on a share price of £3.379. The 2011 LTIP award vested on 31 March 2014 at 100% of the total award. This 100% vesting required easyJet's Return on Capital Employed (ROCE) to achieve targets of up to 13%. The targets were based on ROCE (excluding operating lease adjustments) for the financial year ending 30 September 2013. The Company achieved ROCE of 23.0% in the 2013 financial year.

The 2012 LTIP award grant on 4 January 2012 (the '2012 LTIP') was based on a share price of £3.928. The LTIP award vested on 4 January 2015 at 100% of the total award. This 100% vesting required easyJet's ROCE to achieve targets of up to 13%. The targets were based on three year average ROCE (excluding operating lease adjustments) performance for the years ended 30 September 2012, 30 September 2013 and 30 September 2014. The Company achieved an average ROCE of 22.0% for the three financial years ended 30 September 2014.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rules 3.1.2R and 3.1.4R. The Company received notification of the LTIP transactions on 28 January 2015 and sale of ordinary shares outside of the LTIP on 27 January 2015.

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