Director/PDMR Shareholding

RNS Number : 0767C

easyJet PLC

13 January 2015

 

easyJet plc ("the Company")

Director/PDMR shareholding

13 January 2015

The Company announces that on 12 January 2015, the PDMR set out below exercised her award under the easyJet Long Term Incentive Plan ('LTIP') and subsequently sold and retained the resulting number of ordinary shares of 27 and 2/7 pence ('Shares') set out against her name:

Name	Number of awards exercised	Number of Shares sold	Sale Price per Share	Number of shares retained	Total holding following transaction	% of total voting rights following transaction
Cath Lynn	238,213	112,241	£16.2454	125,972	228,951	0.058%

The total number of shares exercised consists of 166,467 LTIP performance awards granted on 31 March 2011 (the '2011 LTIP'), 114,562 LTIP performance awards granted on 4 January 2012 and 7,124 LTIP matching awards granted on 4 January 2012 (the LTIP awards granted in January 2012 together being the '2012 LTIP').

The 2011 LTIP award was granted based on a share price of £3.379. The LTIP award vested on 31 March 2014 at 100% of the total award. This 100% vesting required easyJet's Return on Capital Employed (ROCE) to achieve the target of 12% (if the award was the equivalent of up to 100% salary) or 13% (if the award was the equivalent of between 100% and 200% of salary). The ROCE targets were based on ROCE (excluding operating lease adjustments) for the financial year ending 30 September 2013. The Company achieved a ROCE target of 23.0% in the 2013 financial year.

The 2012 LTIP award was granted based on a share price of £3.928. The LTIP award vested on 4 January 2015 at 100% of the total award. This 100% vesting required easyJet's Return on Capital Employed (ROCE) to achieve the target of 12% (if the award was the equivalent of up to 100% salary) or 13% (if the award was the equivalent of between 100% and 200% of salary). The ROCE targets were based on three year average ROCE (excluding operating lease adjustments) performance for the years ended 30 September 2012, 30 September 2013 and 30 September 2014. The Company achieved an average ROCE target of 22.0% for the three financial years ended 30 September 2014.

This notification is made pursuant to the requirements of the Disclosure and Transparency Rule 3.1.2R and 3.1.4R. The Company received notification of this transaction on 13 January 2015.

For further details, please contact:

Institutional investors and analysts

Will MacLaren, Investor Relations	07961 763 879
Michael Barker	07985 890 939

Media:

Paul Moore, Corporate Communications

07860 794 444

 

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