Director/PDMR Shareholding

RNS Number : 4606O

Vodafone Group Plc

19 September 2013

 



Vodafone Group Plc ("the Company")

In accordance with Disclosure and Transparency Rule 3.1.4R(1), the Company gives notice of the following changes in share interests of directors and persons discharging managerial responsibilities ("PDMRs") of the Company:

	Number of ordinary shares of US$0.113/7 in the capital of Vodafone Group Plc
	Award of performance shares (1) (2)
Vittorio Colao*	1,644,444
Andrew Halford*	1,037,037
Stephen Pusey*	851,850
Paolo Bertoluzzo	810,000
Warren Finegold	789,666
Philipp Humm	1,037,037
Nick Jeffery	666,666
Matthew Kirk	375,000
Rosemary Martin	614,814
Nick Read	851,850
Ronald Schellekens	733,332

^* Denotes Director of the Company

 (1) Conditional awards of shares were granted on 18 September 2013 by the Company. The awards have been granted in accordance with the Vodafone Global Incentive Plan (incorporating co-investment). The vesting of these awards is conditional on continued employment with the Vodafone Group, retention of co-investment and on the satisfaction of a performance condition approved by the Remuneration Committee. The performance condition is based on free cash flow performance with a multiplier that is based on comparative total shareholder return ("TSR") performance. The free cash flow performance is based on a three year cumulative adjusted free cash flow figure. The target adjusted free cash flow level is set by reference to the Company's three year plan and market expectations; 100% of the award will vest for target performance, rising to 150% vesting for maximum performance. The multiplier is based on the TSR of the Company over the three year performance period 1 April 2013 to 31 March 2016 relative to a peer group of six companies within the European Telecoms sector as well as one emerging market composite. There will be no increase in vesting until TSR performance exceeds median, at which point the multiplier will increase up to two on a linear basis for upper quintile performance. The maximum vesting is 300%: for maximum free cash flow performance (150%) and maximum TSR performance (multiplier of 2). For further details of the Plan, please see page 76 of the Company's 2013 Annual Report, available at www.vodafone.com/investor

(2)  The Directors and other PDMRs are subject to the Company's share ownership guidelines, which provide that they will acquire and maintain minimum levels of shareholding. The levels are four times salary for the Chief Executive, three times salary for other Board Directors and two times salary for the other PDMRs, who are members of the Executive Committee.

The Company was notified of these changes on 18 September 2013.

Further, the Company was advised on 18 September 2013 by Computershare Trustees Limited that, on 11 September 2013, the following Director and PDMRs acquired an interest in the following number of ordinary shares of US$0.11³/₇ each in the Company at the price of 210p per share pursuant to the rules of the Vodafone Share Incentive Plan:

Andrew Halford^*                                        118
Nick Jeffery                                                118
Matthew Kirk                                             118
Ronald Schellekens                                118

In addition, the Company was advised on 19 September 2013 by UBS Trustees (Jersey) Limited that on
19 September 2013 Philipp Humm acquired an interest in 326,206 shares of US$0.11 ³/₇ each in the Company at the price of 209.2 pence per share.  These shares will be used for the purpose of co-investment.

 

END

 

 

RDSLLFVSARIALIV