Director/PDMR Shareholding

RNS Number : 9202K

easyJet PLC

05 January 2016

 

easyJet plc ("the Company")

Director/PDMR shareholding

The Company announces that on 4 January 2016, the following PDMR, as set out in the table below, was conditionally awarded shares under the Company's Long Term Incentive Plan (LTIP).

The share price at the time of the grants was £17.40.  

AWARD OF LTIP PERFORMANCE AWARDS
Name	LTIP Performance Shares
Jacqueline Simmonds	30,287

The LTIP Performance Shares Awards will vest in three years' time, free of charge, on 4 January 2019, subject to continued employment and the performance conditions shown below:

ROCE (70% of total award)	Below 15%	15%	18%	20% or more
	Below Threshold (0% vesting)	Threshold (25% vesting)	On-target (50% vesting)	Maximum (100% vesting)

Ranking of easyJet's TSR (30% of total award)	< median	Median	upper quartile
	Below Threshold (0% vesting)	Threshold (25% vesting)	Maximum (100% vesting)

Awards vest on a straight-line basis between these points.

The Return on Capital Employed (ROCE) targets are based on average ROCE over the three year performance period (being three years from 1 October 2015).

The Total Shareholder Return (TSR) targets are based on relative TSR compared to companies ranked FTSE 31 to 130 at the start of the performance period, where the average share price is calculated over three months at the start and end of the period. In addition, in order for the TSR-based awards to vest, easyJet must have achieved positive absolute TSR performance over the performance period.

Further details relating to the operation of the LTIP can be found within the Annual report and accounts which are available on the Company's website.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.4R.

For further details, please contact:

Stuart Morgan, Investor Relations	[phone]
Paul Moore, Corporate Communications	[phone]
Anna Knowles, Corporate Communications	[phone]

 

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