Director/PDMR Shareholding

RNS Number : 1490J

National Grid PLC

11 July 2013

 



11 July 2013   

National Grid plc (National Grid)

Notification of Changes in Directors' Interests

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Performance Share Plan - Partial Vesting of Awards

Today National Grid received notification from UBS Trustees (Jersey) Limited, as Trustee of the National Grid Group Employee Share Trust that the following awards made to Executive Directors under the National Grid Performance Share Plan 2002, in the 2010 operation of the Plan, have vested partially as follows:

Director	Original Award	Lapsed	Vested
Steve Holliday	384,220	91,340	292,880
Andrew Bonfield	236,464	45,875	190,589
Tom King (ADSs)	57,762	11,206	46,556
Nick Winser	196,356	38,094	158,262

These awards were subject to performance conditions. The performance conditions were satisfied at 80.6%, as confirmed at the end of the performance period on 30 June 2013. The vested shares will be held in a retention period before being released to participants on 29 June 2014, with the exception of Andrew Bonfield who received his award on recruitment in November 2010. As such, the vested shares for Andrew will not be released until 30 November 2014.

We also notify that Tom King, Executive Director, received confirmation from his broker following the sale in the US on 10 July 2013 of a total of 3,500 National Grid ADSs at $55.2753 per ADS in order to rebalance his portfolio following the recent release of shares from a maturing share award.

The interests of the above directors, following these changes, are:

	Total Interests in Shares	Beneficially owned Shares	Beneficial ownership as a % of salary using a share price of 760p per share.*
Steve Holliday	2,322,164 shares	750,835 shares	570%
Andrew Bonfield **	961,975 shares	569 shares	<1%
Tom King	281,658 (ADSs)	71,336 (ADSs)	374%
Nick Winser	1,123,232 shares	355,413 shares	495%

*Closing share price on 10 July 2013.

** Andrew Bonfield is more recently appointed.

Contact: Robin Kerner, Assistant Secretary

0207 004 3223

 

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