Director/PDMR Shareholding

RNS Number : 3292G

London Stock Exchange Group PLC

19 November 2015

 



LONDON STOCK EXCHANGE GROUP PLC

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMR") OR CONNECTED PERSONS

Acquisition of shares under the terms of the London Stock Exchange Long Term Incentive Plan 2014 (the '2014 LTIP')

On 18 November 2015 London Stock Exchange Group plc ('the Company') was notified that on 17 November 2015, Computershare Trustees (Jersey) Limited, the trustee of the London Stock Exchange Employee Benefit Trust, purchased ordinary shares of 6 79/86 pence each in the Company ('Shares') on behalf of the PDMR noted below who is participating in the 2014 LTIP whereby an employee purchases Shares in the Company ('Invested Shares') and, in return, is granted a matching award of Shares (the 'Matching Award').  The venue of execution for the purchase of the Shares was London Stock Exchange.

In return for the PDMR purchasing Invested Shares, the Company has granted him a Matching Award over such number of Shares that equals two times the number of Shares that the PDMR could have purchased had his investment been made on a pre-tax basis. The Matching Award, granted under the LTIP on 18 November 2015, is in the form of a nil cost option to acquire Shares in the Company.

PDMR	Number of Invested Shares purchased	Number of Shares conditionally awarded as a nil cost option
Chris Corrado	4,423 at £25.46 per share	16,666

To be eligible to receive the Matching Award, the senior executive must hold their Invested Shares and remain in employment for a period of three years from the date of grant of the Matching Award.   

The Company also granted the senior executive a Performance Share award under the LTIP on 18 November 2015 in the form of a nil cost option to acquire Shares in the Company (the "Performance Award').

PDMR	Number of Shares awarded as a nil cost option
Chris Corrado	50,000

To be eligible to receive the Performance Award, the senior executive must remain in employment for a period of three years from the date of grant of the award.

The actual number of Shares that may transfer to the senior executive depends on the vesting of the Matching Award and the Performance Award and is determined by the extent to which specified corporate performance targets are satisfied over the applicable three year performance period.

The performance targets applied to the Matching Award and the Performance Award under the LTIP are the same as the targets applied to awards granted to all participants of the Company's LTIP in the 2015 financial year.

Full details of the 2014 LTIP are provided in the Directors' Remuneration Report in the London Stock Exchange Group plc Annual Report for the 9 months to 31 December 2014.

Additionally the Company granted a Restricted Share award ('Restricted Award'), in the form of a nil cost option to acquire Shares in the Company, to the senior executive on 18 November 2015 under the London Stock Exchange Group Restricted Share Award Plan 2008.  This award replaces the forfeited financial value of awards made under his previous employer.

The Restricted Award will vest and transfer to the senior executive in 5 tranches, corresponding to the vesting schedule of compensation due from the senior executive's previous employer that was forfeited upon him joining the Company. Each tranche will vest automatically, subject to the executive remaining in employment, as per below:

·    Tranche 1       30 September 2016;

·    Tranche 2       10 March 2017;

·    Tranche 3       2 October 2017;

·    Tranche 4       9 March 2018; and

·    Tranche 5       1 October 2018.

PDMR	Number of Restricted Shares awarded as a nil cost option
Chris Corrado	95,488

This notification relates to a disclosure made in accordance with Disclosure Rule 3.1.4R (1) (a).

Name of contact and telephone number for queries

Lisa Condron, Company Secretary Tel: [phone]

Name and signature of duly authorised officer of issuer responsible for making notification

Lisa Condron

Date of notification

19 November 2015

 

END

 

 

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