Director/PDMR Shareholding

RNS Number : 6488L

Electrocomponents PLC

07 July 2014

 



ELECTROCOMPONENTS PLC (the "Company")

Deferred Share Bonus Plan (the "DSBP") - Vesting of 2012 Awards

Electrocomponents announces the following:

On 3 July 2012, the Remuneration Committee awarded 38,119 ordinary 10 pence shares in the Company ("Shares") to Ian Mason (Group Chief Executive) and 25,412 Shares to Simon Boddie (Group Finance Director) under the DSBP, subject to a two year retention period and, normally, continued employment with the Company.

On 3 July 2014, the shares vested in full.  No consideration is payable for the Shares.

The Company was informed on 4 July 2014 that Shares were sold on behalf of Ian Mason and Simon Boddie as follows at a price of 263.6p in order to meet their income tax and National Insurance liabilities (and associated dealing costs) on the vesting of the Awards:

Ian Mason                                                                              17,952 Shares

Simon Boddie                                                                       10,695 Shares

Following these transactions, Ian Mason has an interest in a total of 441,163 Shares and Simon Boddie has an interest in a total of 282,030 Shares, together representing 0.16% of the issued share capital and voting rights of the Company.

Long Term Incentive Plan ('LTIP') 2014 Award

Electrocomponents plc (the 'Company') announces that the following conditional award of Shares was made to the Executive Directors under the Company's LTIP on 4 July 2014:

Ian Mason                                                                              219,129 Shares

Simon Boddie                                                                       116,870 Shares

No consideration is payable for the Shares.  Vesting of the Shares will take place on 4 July 2017 or such earlier date as the performance conditions are determined. The proportion of the award that vests will be subject to the satisfaction of performance conditions detailed in the Annual Report, and a further holding period of six months following vesting for the net amount of shares which vest.

Deferred Share Bonus Plan 2014 Award

The Company announces also that the following conditional award of Shares was made to the Executive Directors of the Company under the DSBP on 4 July 2014:

Ian Mason                                                                              58,441 Shares

Simon Boddie                                                                       43,357 Shares

No consideration is payable for the Shares. Vesting of the Shares will normally take place on 4 July 2016, being the second anniversary of the award date, subject normally to the director's continued employment by the Company. 

This announcement relates to transactions notified in accordance with DTR 3.1.2R.

Ian Haslegrave

Company Secretary

7 July 2014

 

END

 

 

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