Director/PDMR Shareholding

RNS Number : 9289C

Schroders PLC

14 March 2011

 



Schroders plc

Notification of Transactions of Directors and Persons Discharging Material Responsibility and Connected Persons

In accordance with Rule 3.1.2R of the Disclosure and Transparency Rules, Schroders plc was notified on 11 March 2010 of certain transactions by Directors in shares or rights to shares of the Company.  In compliance with Rule 3.1.4R of the Disclosure and Transparency Rules, Schroders plc notifies the market of details of the following transactions:

Equity Compensation Plan - Award of Rights to Shares

The following Directors of Schroders plc acquired rights to ordinary shares of £1 each or non-voting ordinary shares of £1 each in Schroders plc as a result of an Equity Compensation Plan ('ECP') award granted on 11 March 2011: 

	ECP grant over ordinary shares	% of ordinary share class (at close of business on 11 March 2011)	ECP grant over non-voting ordinary shares	% of non-voting ordinary share class (at close of business on 11 March 2011)
Michael Dobson	108,916	0.048	-	-
Alan Brown	43,949	0.019	-	-
Philip Mallinckrodt	-	-	25,245	0.039
Kevin Parry	37,260	0.016	-	-
Massimo Tosato	57,514	0.025	-	-

Awards under the Equity Compensation Plan are granted for nil consideration.  They do not give rise to any immediate entitlement to shares and are at risk of forfeiture in whole or in part before the fifth anniversary of the grant.  The award price for the ordinary shares was £17.44 and £13.86 for the non-voting ordinary shares.

Long Term Incentive Plan - Award of Rights to Shares

The following Directors of Schroders plc acquired rights to ordinary shares of £1 each or non-voting ordinary shares of £1 each in Schroders plc as a result of an award under the Long Term Incentive Plan ('LTIP') award granted on 11 March 2011: 

	LTIP grant over ordinary shares	% of ordinary share class (at close of business on 11 March 2011)	LTIP grant over non-voting ordinary shares	% of non-voting ordinary share class (at close of business on 11 March 2011)
Michael Dobson	45,871	0.0203	-	-
Alan Brown	17,201	0.0076	-	-
Kevin Parry	17,201	0.0076	-	-
Massimo Tosato	17,201	0.0076	-	-
Philip Mallinckrodt	-	-	21,645	0.0335

Awards under the LTIP are granted for nil consideration.  The LTIP is designed as a forward looking plan which incentivises future performance and increases a participant's shareholding in the Company.  Awards are subject to performance criteria measured over a four year cycle.  This first award will vest, if and to the extent that the performance criteria have been met at the end of the four year period, in March 2015 on notification of our results for 2014.  The first four year measurement period will cover the years 2011 to 2014.  The two performance targets are net new business inflows and earnings per share growth relative to a market proxy.  Both net new business and earnings growth over the long term are key drivers of shareholder value, and by using a relative measure for earnings growth the impact of market movements on earning are excluded.  The award price for the ordinary shares was £17.44 and £13.86 for the non-voting ordinary shares.

Release of Restricted Shares

On 8 March 2010 there was an exercise of awards under the ECP which were satisfied by the award of ordinary shares, subject to restrictions.  These restrictions were removed on 10 March 2011 and shares were transferred to the following participants.

	Release of  ordinary shares  (number of shares)	Number of ordinary shares now held (number of shares)	% of ordinary shares held
Michael Dobson	138,517	281,558	0.125
Massimo Tosato	70,266	122,470	0.054

Helen Horton

Deputy Company Secretary

London

14 March 2011

 

END

 

 

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