Director/PDMR Shareholding

RNS Number : 6799S

QinetiQ Group plc

14 September 2010

 



QinetiQ Group plc

14 September 2010

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITES - Grant of Awards over ordinary shares in QinetiQ Group plc ("Shares" and the "Company" respectively) to Directors of the Company under its Value Sharing Plan ("VSP").

The information listed below relates to transactions notified in accordance with DTR3.1.2.

The following Directors of the Company were granted Awards under the VSP on 1 September 2010 (the "Award Date"):

Director / PDMR	Shares receivable per £1m of Additional Shareholder Value created	Maximum number of Shares over which Award may Vest
Leo Quinn - CEO	2,000	1,812,000
David Mellors - CFO	1,000	906,000

Awards entitle Participants to receive a specified number of Shares per £1m of "Additional Shareholder Value" created over the performance period attaching to the Award.  The amount of Additional Shareholder Value created over the performance period is calculated in accordance with the performance targets attaching to the Award.  The maximum number of Shares is achieved if Additional Shareholder Value is created at least equal to the average market capitalisation over the last three months prior to the beginning of the performance period.

Awards will ordinarily vest 3 years after the Award Date.  The vesting of an Award will entitle the Participant to either (i) receive a nil-cost option over the number of Shares in respect of which the Award vests, exercisable as to 50% immediately and 50% at the end of a further one year period (subject to continued employment); or (ii), receive 50% of the number of Shares in respect of which the Award vests immediately and 50% at the end of a further one year period (subject to continued employment).

14 September 2010

 

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