Director/PDMR Shareholding

RNS Number : 3488I

QinetiQ Group plc

13 June 2011

 



QinetiQ Group plc

13^th June 2011

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 26 May 2011 (the "Award Date"):

Director / PDMR	Shares receivable per £1m of Additional Shareholder Value created	Maximum number of Shares which may Vest under the Award
Leo Quinn - CEO	1,800	1,531,800
David Mellors - CFO	900	765,900

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 created is 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).

13 June 2011

 

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