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Barclays PLC (BARC)

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Friday 19 March, 2010

Barclays PLC

Director/PDMR Shareholding

RNS Number : 8693I
Barclays PLC
19 March 2010
 



19 March 2010

 

Director/PDMR Shareholding: Disclosure and Transparency Rules 3.1.4R(1)(a)

 

1.   Following a recommendation made by Barclays PLC ("the Company") on 15 March 2010, the independent trustee of the Barclays Group (PSP) Employees' Benefit Trust (the "PSP Trust") notified the Company on 18 March 2010 that on 16 March 2010 it had resolved to grant the following new awards under the Performance Share Plan ('PSP') to Directors of the Company:

 

Director

Allocation of performance shares (a)

 

Maximum number of shares potentially releasable

RE Diamond Jnr

1,854,634

5,563,902

CG Lucas

309,106

927,318

 

Note:

 

(a)

 

Under PSP, awards are granted as a provisional allocation and do not give rise to any entitlement to the shares.  At the third anniversary, shares may be released by the trustee subject to performance conditions being satisfied.

 

The calculation of the initial award allocation was based on a share price of £3.235140, which was the average price paid for the Company's shares by the trustee between 16 February 2010 and 15 March 2010.  No consideration was paid for the grant of any award.

 

 

2.   The independent trustee of the PSP Trust notified the Company on 18 March 2010 that on 15 March 2010 it had resolved to release the following shares under the 2007-2009 PSP following the satisfaction of the performance target to the following Directors and Persons Discharging Managerial Responsibility (PDMRs) of the Company:

 

Directors/

PDMRs

Shares released

to Director/

PDMR

Shares sold on

behalf of  Director/PDMR  to satisfy  withholding  liabilities

 

Shares sold in the market by Director/ PDMR

Share  price at award[1] (pence)

Market price at date of release [2] (pence)

Shares retained by Director/

PDMR

J Del Missier

46,786

19,188

0

733.00

347.9031

27,598

RE Diamond Jr

1,602,345

792,576

0

733.00

347.9031

809,769

MD Harding

29,243

11,993

17,250

733.00

347.9031

0

A Jenkins

46,786

19,188

0

733.00

347.9031

27,598

TL Kalaris

46,786

19,399

0

733.00

347.9031

27,387

R Le Blanc

29,243

11,993

17,250

733.00

347.9031

0

CG Lucas

142,160

58,302

0

733.00

347.9031

83,858

R Ricci

46,786

19,399

0

733.00

347.9031

27,387

CL Turner

15,206

6,237

0

733.00

347.9031

8,969

JS Varley

280,702

115,120

0

733.00

347.9031

165,582

 

Separately, the executive Directors (RE Diamond Jr, CG Lucas and JS Varley) will independently agree to voluntary clawback arrangements to operate for a two-year period following vesting of their awards. By this voluntary agreement, the executive Directors will repay the value of the shares (net of taxes deducted) at the end of the two-year period should a performance condition, to be agreed and assessed by the Remuneration Committee, not be met. There will be no opportunity to receive shares in excess of the vested shares.

 

 

3.   The independent trustee of the Barclays Group (ESAS) Employees' Benefit Trust (the "ESAS Trust") notified the Company on 18 March 2010 that it had on 15 March 2010 exercised its discretion and released shares following provisional allocations made during the past five years by the trustee over the Company's ordinary shares. Of these shares the following were released to directors and PDMRs of the Company:

 

 

Directors/

PDMRs

Shares released

to Director/

PDMR

Shares sold on

behalf of  Director/PDMR  to satisfy  withholding  liabilities

 

Shares sold in the market by Director/ PDMR

Share  price at award [3] (pence)

Market price at date of release 2 (pence)

Shares retained by Director/

PDMR

J Del Missier

6,126,088

2,512,381

0

226.1595

347.9031

3,613,707

RE Diamond Jr

750,208

371,079

0

715.4220

347.9031

379,129

MD Harding

119,508

49,013

70,495

379.8765

347.9031

0

A Jenkins

797,910

327,234

0

243.1097

347.9031

470,676

TL Kalaris

2,518,841

1,044,346

0

245.7816

347.9031

1,474,495

R Le Blanc

267,146

109,560

157,586

546.6839

347.9031

0

R Ricci

5,470,570

2,268,170

0

172.2701

347.9031

3,202,400

CL Turner

94,293

38,672

0

334.5137

347.9031

55,621

JS Varley

119,634

49,064

0

658.3629

347.9031

70,570

 

 

4.   The independent trustee of the ESAS Trust notified the Company on 18 March 2010 that it had on 15 March 2010 granted rights in the form of nil cost options to the directors and PDMRs of the Company listed below under the ESAS to acquire ordinary shares in the Company. The ESAS options are exercisable from grant until 15 March 2012 and are granted over a proportion of the shares which were provisionally allocated by the trustee under ESAS on 21 March 2007 to the directors and PDMRs listed below. 

 

The trustee also notified the Company on 18 March 2010 that the Directors and PDMRs of the Company exercised options detailed below.  The number of shares under option that has been exercised includes the options granted on 15 March 2010 and options previously granted on 9 April 2009 under ESAS which were granted over a proportion of the shares which were provisionally allocated by the trustee under ESAS on 21 March 2006.

 

The number of shares under option includes an additional number of shares which have been accrued in respect of dividends received by the trustee from March 2006. The total exercise price payable on any exercise of an ESAS option is £1.

 

Directors/

PDMRs

Number of shares granted under option to Director /PDMR 

Number of shares under option that has been exercised

Share  price at award 3

(pence)

Market price at date of exercise2 (pence)

Shares sold on

behalf of  Director/PDMR to satisfy  withholding  liabilities

 

Shares retained by Director/

PDMR

MD Harding

42,106

42,106

733.00

347.9031

17,269

24,837

R Le Blanc

121,638

250,897

690.23

347.9031

102,897

148,000

CL Turner

19,883

33,635

699.06

347.9031

13,796

19,839

JS Varley

100,585

202,341

691.26

347.9031

82,984

119,357

 

 

5.   The following PDMRsof the Company, notified the Company on 18 March 2010 that they, or their connected person, had sold the following ordinary shares in the Company:

 

PDMR

Number of shares

Price (pence per share)

Date of transaction

MD Harding

25,000

358.60

17 March 2010

MD Harding

25,000

359.90

17 March 2010

R Le Blanc

100,000

353.39

18 March 2010

 

 

        

The revised total shareholding for each director following these transactions is as follows:

 

Director    

Total Beneficial Holding



RE Diamond Jr     

9,522,708    

CG Lucas

185,555

JS Varley

977,927

 

 

 

 



[1] The price shown reflects the average price paid by the independent trustee of the PSP Trust to purchase ordinary shares to satisfy the award.

[2] This is the price at which shares were sold to satisfy withholding liabilities and in the market.

[3] This is a weighted average price as the awards were made over a number of years.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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