Director/PDMR Shareholding

RNS Number : 8685J

Domino's Pizza Group PLC

22 December 2015

 

DIRECTOR/PDMR SHAREHOLDING

Domino's Pizza Group plc (the "Company") was advised today that awards were granted by the Remuneration Committee under two of the Company's employee share schemes on 21 December 2015 as explained below.   This grant follows the ending of the prohibited period which had applied throughout the time while the Company was in negotiations in relation to its German operations (the "Transaction"), the successful conclusion of which was announced to the market on 15 December 2015.

Deferred Share Bonus Plan ("Deferral Plan")

As shareholders are aware, bonuses payable to executive directors are settled 2/3 in cash and 1/3 in shares, the receipt of the latter being deferred for two years.   Due to the prohibited period explained above the Company has previously been unable to grant an award under the Company's Deferral Plan which forms the deferred, share-settled component of annual bonus, though the face value of this award was explained in the 2014 annual report.  

The Remuneration Committee granted an award under the Deferral Plan on 21 December 2015 to David Wild, the CEO and a director of the company, as follows:

Name	Status	Number of shares under award
David Wild	Director/PDMR	13,366

This award is structured as a nil cost option over ordinary shares of 1.5625p and the vesting of the award and release of shares is not subject to any further post-grant performance condition other than continued service.

Ordinarily, the Company would have expected to make this award on 27 February 2015, being the day following the announcement of the Company's results for the 2014 financial year.   Given the delay caused by the prohibited period, the Remuneration Committee has used discretions available to it under the rules of the Deferral Plan to determine (a) that the strike price used to calculate the number of shares comprised in the award should be the closing mid-market quote of 730p for the Company's shares on 26 February 2015 and (b) that the Normal Vesting Date should be 27 February 2017; in each case this would have been the case if this award had been made as originally intended.

Dividend equivalents will be payable on vesting.

No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards.

2012 Long Term Incentive Plan

Awards were made on 21 December 2015 under this plan to a number of employees who had inside information in relation to the Transaction including David Wild, the CEO and a director of the company, and one other person discharging managerial responsibility:

Name	Status	Number of shares under award
David Wild	Director/PDMR	75,893
Simon Wallis	PDMR	22,642

The vesting of these awards, which are structured as Conditional Awards over ordinary shares of 1.5625p in the Company, will ordinarily occur on the third anniversary of the date of grant, subject to the satisfaction of stretching performance conditions and continued service.   As previously explained to shareholders, the performance conditions comprise a relative total shareholder return component and an underlying earnings per share component, in each case assessed over three financial years commencing with the current financial year of the Company and measured independently of each other.

Dividend equivalents will be payable on the number any shares that may ultimately vest.

No consideration was paid for the grant of the awards and no consideration is due on the maturity of the awards.

ENDS

For further information, please contact:

Domino's Pizza Group plc

Rob Bellhouse, Company Secretary (Interim)

01908 580000

Maitland

Greg Lawless, Robbie Hynes

020 7379 5151

Notes to Editors:

Domino's Pizza Group plc is the leading player in the fast-growing pizza market and holds the exclusive master franchise to own, operate and franchise Domino's Pizza stores in the UK, Republic of Ireland, Switzerland, Liechtenstein and Luxembourg, and will ultimately hold a strategic stake in a joint venture which owns the largest pizza delivery business in Germany. The first UK store opened in Luton in 1985 and the first Irish store opened in 1991.

 

END

 

 

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