Director/PDMR Shareholding Replacement

RNS Number : 3150D

SSE PLC

05 July 2016

 

SSE PLC (SSE/the Company)

TRANSACTIONS BY DIRECTORS/PDMRs

This announcement replaces the previous announcement lodged on 5 July 2016 reference number 1997D.

(i)           DEFERRED BONUS SCHEME (DBS)

VESTING OF AWARDS GRANTED 13 JUNE 2013

The Company announces that following the vesting on 21 June 2016 the independent Trustee of the SSE Employee Trust notified the Company that it had on 21 June 2016 transferred the beneficial interest in a total of 17,131 SSE ordinary shares (the "shares"), subject to awards granted on 13 June 2013 under the DBS, to the following persons discharging managerial responsibility ("PDMRs").

PDMR	Gross Award of Shares	Accrued Dividend Shares	Total Shares	No. of Shares sold at £15.5115 to meet income tax and National Insurance liabilities	Net Number of Shares transferred to Participant	Total Beneficial Interest following this Notification
Alistair Phillips-Davies, Director	3,440	647	4,087	1,925	2,162	149,883
Gregor Alexander, Director	3,440	647	4,087	1,925	2,162	141,856
Jim McPhillimy, PDMR	2,767	520	3,287	1,544	1,743*	N/A
Will Morris, PDMR	1,612	300	1,912	901	1,011	N/A
Colin Nicol, PDMR	1,120	210	1,330	627	703	N/A
Martin Pibworth, PDMR	2,045	383	2,428	1,144	1,284	N/A

*shares subsequently sold at £15.5115 on 21 June 2016

Vesting of these shares was subject to continuous employment over the three year period from date of grant (or as provided by the DBS Plan Rules).

(ii)          PERFORMANCE SHARE PLAN (PSP)
AWARDS GRANTED 13 JUNE 2013

As stated in the Annual Remuneration Report 2015/16, based on performance targets, there will be no vesting of the 2013 PSP Award in respect of Directors and PDMRs. 

(iii)         LONG TERM INCENTIVE PLAN (LTIP)
GRANT OF AWARD 27 MAY 2011

On 27 May 2011, the Company granted an award to Jim McPhillimy (PDMR) under the LTIP.    Based on performance targets, the plan vested on 21 June 2016 at 41%.  Jim McPhillimy was awarded 23,415 shares, and after selling 11,028 shares at £15.5115 to meet income tax and National Insurance liabilities he received 12,387 shares.

This notification relates to a disclosure made in accordance with DTR3.1.4R which was in force at date of vesting.

 

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