Director/PDMR Shareholding

RNS Number : 9507U

Vodafone Group Plc

01 July 2009

 



Vodafone Group Plc ('the Company')

In accordance with Disclosure and Transparency Rule 3.1.4R(1), I have to inform you 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
	A	B	C
	Award of performance  shares (1)(2)	Purchased  shares (3)	Award of AllShares(4)
Vittorio Colao*	6,382,861	438,476	340
Michel Combes*	3,305,625	156,014	340
Warren Finegold	2,131,383	126,498	340
Andy Halford*	4,201,690	323,457	340
Matthew Kirk	916,821	42,166	340
Terry Kramer	2,384,436	205,039	340
Morten Lundal	1,713,458	86,905	340
Steve Pusey*	2,383,697	92,765	340
Nick Read	1,458,925	23,657	340
Frank Rovekamp	2,399,344	199,995	340
Ronald Schellekens	1,345,997	85,491	340
Stephen Scott	1,791,959	0	340

* Denotes Director of the Company

• Conditional awards of shares were granted on 30 June 2009 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 measure 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 cash flow figure. The target free cash flow level is set by reference to the Company's three year plan and market expectations, 12.5% of the award will vest for target performance, rising further to 50% vesting for maximum performance. The multiplier is based on the TSR of the Company over the three year performance period 1 April 2009 to 31 March 2012 relative to a peer group of five 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 100% for maximum free cash flow performance (50%) and maximum TSR performance (multiplier of 2). For further details of the Plan, please see pages 59 and 60 of the Company's 2009 Annual Report, available at www.vodafone.com/investor.

• These awards are also conditional on the directors and other PDMRs being compliant with 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 advised by UBS Trustees (Jersey) Limited that on 30 June 2009 the above named directors and PDMRs acquired an interest in the number of shares of US$0.11 3/7 each in the Company shown in column B above at the price of 117.75 pence per share.

• On 30 June 2009 the Company has granted a conditional award of 340 shares on an all employee basis under the Vodafone Global Incentive Plan. The vesting of these awards is conditional on continued employment with the Vodafone Group until 30 June 2011.

As a result of the above, the interests in shares (excluding share options and unvested incentive shares) of the following Directors are as follows:

Vittorio Colao        1,575,247

Michel Combes     390,444

Andy Halford         1,697,867

Steve Pusey         402,279

The Company was notified of these changes on 30 June and 1 July 2009.

P R S Howie
Deputy Group Company Secretary

 

END

 

 

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