Director/PDMR Shareholding

RNS Number : 7900S

National Express Group PLC

18 March 2021

 

NATIONAL EXPRESS GROUP PLC

 ("Company")

Notification of a transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

The Company provides notification of the following transactions effected on 18 March 2021 on the London Stock Exchange, relating to the below named PDMRs and their respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

The transactions arise in respect of the: (i) the deferred vesting on 18 March 2021 of the forfeitable Shares awarded to Chris Davies on 9 March 2020 under the rules of the Company's Executive Deferred Bonus Plan ("EDBP") and relating to the one-year deferred element of his 2019 annual bonus and immediate sale of a sufficient number of such Shares to cover the personal tax liability arising on such vest (deferred from 9 March 2021 due to the Company being in a closed period until 18 March 2021); (ii) the exercise by Chris Davies on 18 March 2021 of his 2-year recruitment incentive nil-cost option, awarded to him on 10 May 2017 under the rules of the Company's 2015 Long-Term Incentive Plan ("LTIP"), over the vested Shares thereunder and immediate sale of a sufficient number of such Shares to cover the personal tax liability arising on such exercise; and (iii) the purchase by Matthew Crummack on 18 March 2021 of Shares on the London Stock Exchange.

Name and position of PDMR	Number of forfeitable Shares  vested and sold 1,2	Number of vested Shares exercised under nil cost options and sold 2	Number of vested Shares beneficially acquired on vesting and exercise 3	Number of Shares purchased	Beneficial interest of PDMR in Shares following the transactions 4	Total other interest held in Shares following the transactions 5
Chris Davies, Group Chief Financial Officer	39,847 Shares vested and 18,765 sold at 303.51 pence  per Share	61,366 Shares exercised and 28,901 sold at 303.51 pence  per Share	53,547	-	248,238	435,667
Matthew Crummack, Senior Independent Non-Executive Director	-	-	-	16,148 Shares purchased at 303.54 pence per Share	18,844	-

¹ The Shares sold comprise (i) those compulsorily sold to cover the immediate income tax and social security liability arising on vesting of the 2020 EDBP award; and (ii) those voluntarily sold to cover the immediate income tax and social security liability arising on the exercise of the 2017 2-year recruitment incentive LTIP award.

² All Shares delivered to the individual are existing Shares delivered through the Company's Employee Benefit Trust.

³ Malus and clawback apply to both the forfeitable Shares comprised in the 2020 EDBP award and to the vested Shares comprised in the 2017 2-year recruitment incentive LTIP award for two-years from the date of award, including post termination of employment, so until 9 March 2022 and 10 May 2021, respectively.

⁴   Including those held by connected persons.

⁵ Represents outstanding awards granted under the Company's EDBP and LTIP.

1.	Details of PDMR / PCA
	Full Name	Chris Davies
	Position / status	Group Chief Financial Officer, PDMR
	Initial notification / amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
	Name		National Express Group PLC
	LEI		213800A8IQEMY8PA5X34
3.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Description of the financial instrument	Ordinary shares of 5p each
	Identification code	GB0006215205
	Nature of the transaction	1. Vest of deferred share award under the Company's Executive Deferred Bonus Plan and sale of sufficient shares to cover tax 2. Exercise of vested nil cost option under the Company's Long-Term Incentive Pan and sale of sufficient shares to cover tax
	Price (s) and volume(s)	Price(s) Volume(s) Total 1. £3.04 18,765 £56,952.83 2. £ 3.04 28,901 £87,716.15 Aggregated - 47,666 £144,668.98
	Date of the transaction	18 March 2021
	Place of the transaction	London Stock Exchange

1.	Details of PDMR / PCA
	Full Name	Matthew Crummack
	Position / status	Senior Independent Non-Executive Director, PDMR
	Initial notification / amendment	Initial notification
2.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
	Name		National Express Group PLC
	LEI		213800A8IQEMY8PA5X34
3.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Description of the financial instrument	Ordinary shares of 5p each
	Identification code	GB0006215205
	Nature of the transaction	Purchase of shares
	Price (s) and volume(s)	Price(s) Volume(s) Total £ 3.04 16,148 £49,015.96 Aggregated £3.04 16,148 £49,015.96
	Date of the transaction	18 March 2021
	Place of the transaction	London Stock Exchange

This above notice is given in fulfilment of the Company's obligation under DTR 3.1 and Article 19 of the EU Market Abuse Regulation 596/2014.

-  END -

National Express contact and telephone number for enquiries:

Jennifer Myram, Company Secretary

07880 472885

Melanie Travis, Deputy Company Secretary

07990 802678

Notes:

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)

 

END

 

 

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