Director/PDMR Shareholding

RNS Number : 7979S

London Stock Exchange Group PLC

21 March 2016

 

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

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

On 18 March 2016 London Stock Exchange Group plc (the 'Company') was notified that, on 18 March 2016, 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 PDMRs noted below who are 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.

Additionally, on 18 March 2016 the Company was notified that on 17 March 2016 Nikhil Rathi purchased 2,989 Invested Shares.  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 them a Matching Award over such number of Shares that equals two times the number of Shares that the PDMR could have purchased had their investment been made on a pre-tax basis. The Matching Award, granted under the LTIP on 18 March 2016, 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
Suneel Bakhshi	5,022 at £29.019257 per share	19,031
Chris Corrado	3,881 at £29.019257 per share	14,705
Diane Côté	2,967 at £29.019257 per share	11,245
Serge Harry	2,267 at £29.019257 per share	9,936
Catherine Johnson	2,511 at £29.019257 per share (registered in the name Catherine Thomas)	9,515
David Lester	3,470 at £29.019257 per share	13,148
Nikhil Rathi	2,936 at £28.8394 per share; and 53 at £28.9738 per share (registered in the name of Jyoti Rathi, a connected person)	11,245

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 actual number of Shares transferred to the senior executive on the vesting of the Matching Award will depend on the extent to which specified corporate performance targets are satisfied over the applicable performance period.

Full details of the 2014 LTIP are provided in the Directors' Remuneration Report contained within the London Stock Exchange Group plc Annual Report for the financial year ending 31 December 2015 (to be published during week commencing 21 March 2016).

Acquisition and sale of shares to meet PAYE, National Insurance and dealing costs under the terms of the London Stock Exchange Group Restricted Share Award Plan 2008 ('the Plan')

London Stock Exchange Group plc was notified on 18 March that on 17 March 2016 Suneel Bakhshi received Shares following the vesting of awards made under the Plan, and that sufficient Shares had been sold on 17 March 2016 to satisfy PAYE, National Insurance and dealing costs.  The venue of execution was London Stock Exchange. 

The awards were made on 5 February 2014 and the Second Tranche, being 50% of the total number of shares granted, became exercisable on 16 March 2016, in accordance with the Plan rules and the specific conditions required for vesting.

Details of the award, number of Shares sold and the resulting Shares transferred to Suneel Bakhshi are shown below:

PDMR	Number of shares vested	Number of Shares sold and price per Share	Resulting number of Shares transferred to PDMR for no consideration
Suneel Bakhshi	17,504	8,232 to satisfy PAYE, National Insurance and dealing costs at £28.84795	9,272

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

21 March 2016

 

END

 

 

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