Information  X 
Enter a valid email address

Inmarsat PLC (ISAT)

  Print      Mail a friend       Annual reports

Wednesday 12 June, 2019

Inmarsat PLC

Director/PDMR Shareholding

RNS Number : 0029C
Inmarsat PLC
12 June 2019
 

12 June 2019

 

 

Inmarsat plc: Director share dealings

 

2019 Performance Share Award (PSA)

 

In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notifications are set out at the end of this announcement.

 

The following contingent awards were made to the two executive directors under the Performance Share Award (PSA) on 2 May 2019 using the mid-market closing price of £5.412 from 1 May 2019.

 

Name

Number of ordinary shares awarded under PSA on 2 May 2019

Rupert Pearce

277,346

Tony Bates

227,180

 

The PSA awards for 2019 will vest after three years based upon the following three performance conditions, measured over the three years to 31 December 2021:

1.    Three-year TSR vs. FTSE 250 (excluding investment trusts).  Weighting: 50% of maximum award.  Below median results in nil vesting; median equates to 25% vesting; and upper quarter results in 100% vesting.  There is straight-line vesting between median and upper quartile.

 

2.    Aggregate Free Cash Flow. Weighting 25% of maximum award. Less than US$50m results in nil vesting; US$50m equates to 25% vesting and US$150m results in 100% vesting. Straight line vesting applies between US$50m and US$150m.

 

3.    Strategic objectives.  Weighting: 25% of maximum award.  Key performance targets:

-      Delivery of market leading, profitable maritime broadband service

-      Protection of legacy FB customer base

-      Delivery of market leading, profitable aviation broadband business

-      Transformation of our global network infrastructure

 

Alison Horrocks

Company Secretary

 

 



 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Rupert Pearce

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

Initial

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Inmarsat plc

b)

 

LEI

 

213800QU7UAKT6KMRF41

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

Ordinary shares of Euro 0.0005 each

 



Identification code

ISIN: GB00B09LSH68 



b)

 

Nature of the transaction

 

Conditional PSA 2019 share award which will vest after three years based upon three performance conditions, measured over the three years to 31 December 2021.

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil consideration

277,346







d)

 

Aggregated information




- Aggregated volume

277,346



- Price

Nil consideration



e)

 

Date of the transaction

 

2 May 2019

f)

 

Place of the transaction

 

Outside of trading venue

 



 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Tony Bates

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer

b)

 

Initial notification /Amendment

 

Initial

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Inmarsat plc

b)

 

LEI

 

213800QU7UAKT6KMRF41

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

Ordinary shares of Euro 0.0005 each

 



Identification code

ISIN: GB00B09LSH68 



b)

 

Nature of the transaction

 

Conditional PSA 2019 share award which will vest after three years based upon three performance conditions, measured over the three years to 31 December 2021.

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil consideration

227,180







d)

 

Aggregated information




- Aggregated volume

227,180



- Price

Nil consideration



e)

 

Date of the transaction

 

2 May 2019

f)

 

Place of the transaction

 

Outside of trading venue

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DSHGGUGUQUPBGWP

a d v e r t i s e m e n t