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.

 

END

 

 

RDSGGURUWUPUGPB