Director/PDMR Shareholding

RNS Number : 2360Q

easyJet PLC

04 June 2018

 

easyJet plc ("the Company")

Director/PDMR shareholding

The Company announces that on 4 June 2018, the following Executive Director and PDMR as set out in the table below, were granted awards over 27 2/7 p ordinary shares in the capital of the Company under the Company's relevant Long Term Incentive Plan (LTIP).

GRANT OF LTIP AWARDS
Name	Number of Shares under LTIP Awards
Andrew Findlay (Executive Director, Chief Financial Officer)	14,585
Ella Bennett (PDMR, Group People Director)	27,129

The LTIP Awards will vest and become exercisable on the third anniversary of their grant date (i.e. on 4 June 2021) subject to the grantee's continued employment and to the extent to which the average Return of Capital Employed (ROCE), total headline Earnings Per Share (EPS) and relative total shareholder return (TSR) performance conditions set for the LTIP Awards are met.  These targets are identical to those set for Awards made on 19 December 2017.

In addition, as disclosed in the Company's 2017 Annual report and accounts, as an Executive Director, Mr Findlay is required to retain the after-tax value of any shares under the LTIP award for a further two years from the vesting date (i.e. until 4 June 2023). Executive Directors are also expected to build and maintain a shareholding over a five year period following appointment which, for the Chief Financial Officer, is equivalent to at least 175% of salary.

The LTIP Awards were granted as nil cost option awards.  Further details relating to the operation of the LTIP can be found within the 2017 Annual report and accounts which are available on the Company's website.

Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the LTIP.

For further details, please contact:

Stuart Morgan, Investor Relations	[phone]
Michael Barker, Investor Relations	[phone]
Paul Moore, Corporate Communications	[phone]

1.	Details of the person discharging managerial responsibilities/ person closely associated
a)	Name	Ella Bennett
2.	Reason for the notification
a)	Position/status	Group People Director
b)	Initial notification/ Amendment	This is an initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	easyJet plc
b)	LEI	2138001S47XKWIB7TH90
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary share of 27 2/7p ISIN: GB00B7KR2P84
b)	Nature of the transaction	Grant of LTIP Award under the easyJet Long Term and Matching Share Plan. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
c)	Price(s) and volume(s)	Price(s) Volume(s) LTIP Performance Award Nil 27,129
d)	Aggregated information Aggregated volume Price	Aggregated volume: 27,129 GBP Nil
e)	Date of the transaction	2018-06-04
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/ person closely associated
a)	Name	Andrew Findlay
2.	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	This is an initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	easyJet plc
b)	LEI	2138001S47XKWIB7TH90
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary share of 27 2/7p ISIN: GB00B7KR2P84
b)	Nature of the transaction	Grant of LTIP Award under the easyJet Long Term and Matching Share Plan. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
c)	Price(s) and volume(s)	Price(s) Volume(s) LTIP Performance Award Nil 14,585
d)	Aggregated information Aggregated volume Price	Aggregated volume: 14,585 GBP Nil
e)	Date of the transaction	2018-06-04
f)	Place of the transaction	Outside a trading venue

 

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