Director/PDMR Shareholding

RNS Number : 9393H

SAGA PLC

03 December 2015

 



3 December 2015

Saga plc (the "Company")

Notification of Transactions by

Persons Discharging Managerial Responsibilities

Pursuant to the notification obligations under Disclosure and Transparency Rule 3.1.4, the Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility ("PDMRs") in Ordinary Shares of 1 pence each in the Company ("Shares") on 2 December 2015.

Long Term Incentive Plan ("LTIP")

On 2 December 2015, the Company granted an award (in the form of nil-cost options) over Shares under the LTIP ("LTIP Award") as set out in column 3 of the table below. The number of Shares subject to the LTIP Awards has been determined by reference to the mid-market price of a Share on Tuesday, 1 December 2015 (212.2 pence per Share).   

In addition, the Company has granted market value options under the Company share option plan section of the LTIP ("CSOP options") over the number of Shares set out in column 4 of the table below. The exercise price of each CSOP option is 212.2 pence per Share, being the mid-market price of a Share on Tuesday 1 December 2015. The number of Shares that is capable of exercise under the LTIP Award will be reduced by such number of Shares as has a market value (at the date of exercise of the linked CSOP option) equal to the gain made on the exercise of the CSOP option. Overall, the participant's pre-tax economic gain from the LTIP Award is the same as if the CSOP option was not in place.

1. Name	2. Status	3. No of Shares subject to LTIP award	4. No. of Shares subject to CSOP Option	5. Lapse Date
Matthew Atkinson	PDMR	164,938	14,137	2 December 2025

The vesting of the LTIP Award (and the linked CSOP options) is subject to the satisfaction of a performance condition set by the Remuneration Committee of the Company. The LTIP Award (and the linked CSOP options) will normally vest and become exercisable on the later of the third anniversary of grant and the assessment of the performance condition, subject to continued employment. Awards are exercisable for 10 years from the date of grant, unless the exercise period is shortened in accordance with the LTIP rules.

For further information on the LTIP, please refer to the annual report and accounts for the year ended 31 January 2015.

Enquiries

Saga plc

Vicki Haynes, Company Secretary                                                            Tel: [phone]

Enbrook Park

Sandgate

Folkestone

Kent

CT20 3SE

 

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