Director/PDMR Shareholding

RNS Number : 6007V

Burberry Group PLC

31 January 2017

 

Burberry Group plc (the "Company") - Director/PDMR Shareholdings

The Company announces that it was notified on 30 January 2017 of changes in the interests of directors and persons discharging managerial responsibilities ("PDMRs") in the Ordinary Shares of 0.05p each in the Company ("Shares"), as set out below.

1.    As set out in Burberry Group plc's Directors' Remuneration Report 2015/16, published in May 2016, the Company delayed the grant of 2016 Executive Share Plan (the "ESP") awards while new initiatives to deliver productivity and efficiency improvements, also announced in May 2016, were first being implemented. This was to ensure that the ESP performance targets were properly aligned with Burberry's updated strategic goals.

In accordance with the rules of the Burberry ESP, the directors and PDMRs named below were granted nil-cost options or conditional awards over Shares:

PDMRs	Number of Shares
Christopher Bailey	215,318
Julie Brown	126,480
Marco Gentile	60,228
Donald Kohler	70,962
Pascal Perrier	108,562

For the awards granted to Christopher Bailey and Julie Brown, 50% of each award will vest on the third anniversary of grant, and 50% on the fourth anniversary of grant, subject to the achievement of performance conditions as set out below.

For the awards granted to Marco Gentile, Donald Kohler and Pascal Perrier, 50% of each award will vest on 22 July 2019, and 50% on 22 July 2020, subject to the achievement of performance conditions as set out below.

The vesting of these ESP awards is subject to three performance measures, as summarised in the table below.

			Performance level (% of maximum vesting)
ESP performance measure	Definition	Weighting (% of award)	Threshold (25%)	Target (50%)	Maximum (100%)
Group Adjusted Profit Before Tax	3 year growth, calculated on a constant currency basis	50%	1.0% p.a.	2.7% p.a.	6.0% p.a.
Group Revenue	3 year growth, calculated on a constant currency basis	25%	1.0% p.a.	2.5% p.a.	5.5% p.a.
Return on Invested Capital	3 year average	25%	13.9%	14.3%	15.2%

These performance conditions will be measured over the 3 year period, from 1 April 2016 to 31 March 2019.  The targets for all three performance measures have been carefully calibrated by the Remuneration Committee based on Burberry's 3 year financial goals, external expectations for the business and the sector, and to align with long term value creation for shareholders. These ESP performance targets will also be available shortly on the Company's website.

2.   The following directors and PDMRs were granted one off exceptional awards of nil cost options or conditional awards over ordinary Shares:

PDMRs	Number of Shares
Donald Kohler	42,913
Pascal Perrier	43,425

      50% of each award will vest on 15 December 2017, and 50% on 15 December 2018, subject to the achievement of performance conditions and continued employment.

3.   Julie Brown was granted a nil cost option over 25,000 Shares. 33% of this award will vest on 27 March 2018, 33% will vest on 27 March 2019 and 34% will vest on 27 March 2020, subject to continued employment. As set out in the RNS of 11 July 2016, this award was granted as compensation for the incentives Julie Brown forfeited on leaving her previous employer.

4.   Julie Brown was granted a nil cost option over 215,000 Shares. 40% of this award will vest on 22 July 2017, 30% will vest on 22 July 2018 and 30% will vest on 22 July 2019, subject to continued employment. As set out in the RNS of 11 July 2016, this award was granted as compensation for the incentives Julie Brown forfeited on leaving her previous employer.

31 January 2017

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

Notification of dealing form

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Christopher Bailey
2	Reason for the notification
a)	Position/status	Chief Creative and Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 215,318
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 215,318 £3,574,989
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Julie Brown
2	Reason for the notification
a)	Position/status	Chief Operating and Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 126,480
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 126,480 £2,099,985
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marco Gentile
2	Reason for the notification
a)	Position/status	President, EMEIA
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 60,228
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 60,228 £999,983
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Donald Kohler
2	Reason for the notification
a)	Position/status	President, Americas
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of conditional awards over ordinary Shares under the Burberry Group plc Executive Share Plan
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 70,962
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 70,962 £1,178,203
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Pascal Perrier
2	Reason for the notification
a)	Position/status	Chief Executive Officer, Asia Pacific
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of nil-cost options under the Burberry Group plc Executive Share Plan
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 108,562
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 108,562 £1,802,487
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Donald Kohler
2	Reason for the notification
a)	Position/status	President, Americas
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of conditional awards over ordinary Shares as an exceptional share award
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 42,913
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 42,913 £712,497
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Pascal Perrier
2	Reason for the notification
a)	Position/status	Chief Executive Officer, Asia Pacific
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of nil-cost options as an exceptional share award
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 43,425
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 43,425 £720,998
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Julie Brown
2	Reason for the notification
a)	Position/status	Chief Operating and Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Burberry Group plc
b)	LEI	N/A
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 Identification code		Ordinary shares of 0.05 pence each GB0031743007
b)	Nature of the transaction		Grant of nil-cost options
c)	Price(s) and volume(s)		Price(s) Volume(s) £16.6033 25,000 £16.6033 215,000
d)	Aggregated information - Aggregated volume - Price		Aggregate Price Aggregate Volume Aggregate Total £16.6033 240,000 £3,984,792
e)	Date of the transaction		2017-01-30
f)	Place of the transaction		XLON

 

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