Director/PDMR Shareholding

RNS Number : 5667U

National Express Group PLC

06 April 2021

 

NATIONAL EXPRESS GROUP PLC

 ("Company")

Notification of transactions by a Person Discharging Managerial Responsibilities ("PDMR")

The Company provides notification of the following transactions effected on 6 April 2021 relating to the below named PDMR and his 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: (i) the 6.52% vesting on 3 April 2021 of a three-year performance conditioned nil cost option award over certain Shares granted on 3 April 2018 to the below-named PDMR under the Company's Long-Term Incentive Plan 2015 ("2018 LTIP Option"); and (ii) the exercise by the below-named PDMR of his 2018 LTIP Option over all vested Shares thereunder and immediate sale of a sufficient number of Shares to cover his personal tax liability arising on such exercise.

Name and position of PDMR	Number of Shares vested under the 2018 LTIP Option on 3 April 2021 and sold on 6 April 2021¹	Number of vested Shares acquired and retained on exercise of the 2018 LTIP Option²	Beneficial interest of PDMR in Shares following the transaction 3	Total other interest held in Shares following the transaction 4
Chris Davies, Group Chief Financial Officer	9,061 Shares vested and 4,268 sold at 329.4 pence  per Share	4,793	253,031	567,835

¹ Vested Shares under the 2018 LTIP Option have both a two-year exercise and a two-year compulsory holding period which run concurrently. The compulsory holding period is subject to an entitlement to sell a sufficient number of vested Shares to satisfy tax liabilities arising on exercise of the 2018 LTIP Option. Any residual vested Shares held beneficially post-exercise of the 2018 LTIP Option must be retained for the remainder of the holding period. Malus and clawback also apply to such vested Shares for two years form the date of vesting, including post termination of employment. Vested Shares qualify on vesting for an accrued dividend equivalent entitlement from the Company.

² All Shares delivered on exercise of the 2018 LTIP Option were through the transfer of market purchased Shares held in the Company's Employee Benefit Trust.

³ Including those held by connected persons.

⁴ Represents outstanding awards granted under the Company's Long-Term Incentive Plan.

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 nil cost option under the Company's 2015 Long-Term Incentive Plan 2.  Exercise of vested nil cost option under the Company's 2015 Long-Term Incentive Plan and sale of sufficient shares to cover tax
	Price (s) and volume(s)	Price(s) Volume(s) Total 1. £ n/a 9,061 n/a 2. £3.294 4,268 £14,058.79
	Date of the transaction	6 April 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.

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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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