Director/PDMR Shareholding

RNS Number : 1411W

SSE PLC

20 December 2013

 



SSE PLC (SSE/the Company)

TRANSACTIONS BY PDMRS

DISCLOSURE PURSUANT TO DISCLOSURE AND TRANSPARENCY RULE 3.1.4R(1)(a)

PERFORMANCE SHARE PLAN (PSP)

GRANT OF AWARDS 20 DECEMBER 2013

VESTING NO EARLIER THAN PRELIM ANNOUNCEMENT 2016

On 13 June 2013 the Company granted awards under the PSP to PDMRs ("June awards").  On 20 December 2013, the Company granted the following supplementary awards to the CEO and CFO under the PSP to take into account salary increases implemented from 1 July 2013 reflecting their new roles and additional responsibilities.  The aggregate of the two PSP awards does not exceed 150% of their weighted average base salaries for the financial year.

Vesting conditions for the supplementary awards mirror those of the June awards.  Vesting will only take place if the financial performance conditions over the three year performance period 1 April 2013 to 31 March 2016 are satisfied and the participant remains in employment.  No awards have vested under the PSP in two of the last three years.  The earliest date on which participants will normally become entitled to the shares comprised in this award is the date of announcement of results for the financial year ending 31 March 2016, or as otherwise determined by the rules of the PSP.

PDMR                                                            Number of Shares Granted Under Award

Alistair Phillips-Davies                                             17,266

Gregor Alexander                                                     5,367

 

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