Director/PDMR Shareholding

RNS Number : 8144D
Land Securities Group PLC
11 July 2016
 

Land Securities Group PLC 

("Company")

 

Notification of transactions by

Persons Discharging Managerial Responsibilities ("PDMRs")

 

 

The Company provides notification of the following transactions effected on 8 July 2016 in respect of the following Executive Directors and other PDMRs relating to their interests in the ordinary shares of nominal value 10p each in the capital of the Company ("Shares").

 

The transactions arise from the partial vesting, and subsequent part or all sale, of Shares pursuant to certain performance conditioned awards made to the PDMRs on 8 July 2013 under the rules of the Company's Long-Term Incentive Plan ("LTIP") and Matching Share Plan ("MSP"), as applied at the time.

 

Vesting, sale and retention of Shares on   8 July 2016 of LTIP and MSP awards

 

Name (title)

Total number of Shares vesting¹²

Shares compulsorily sold at 962p per share³

Shares voluntarily

sold at 962p per share

Shares

retained

Robert Noel,

(Chief Executive)

29,596

13,939

-

15,657

Martin Greenslade

(Chief Financial Officer)

20,020

9,411

10,609

-

Colette O'Shea

(MD, London Portfolio)

  7,578

3,569

-

4,009

Scott Parsons

(MD, Retail Portfolio)

  6,471

3,048

-

3,423

¹ Satisfied through the transfer of market purchased Shares from the Company's Jersey-based Employee Benefit Trust.

² Both the LTIP and MSP awards normally vest on the third anniversary of grant subject to the Company's achievement of certain Total Shareholder Return and Total Property Return performance conditions (which apply to each 50% of the award) for the three-year financial period ended 31 March 2016, as more particularly set out in the Directors' Remuneration Report to the Company's 2016 Annual Report. The Company's performance achievement resulted in an aggregate vesting of 13.1% of the maximum award (as reported).

³ To cover the individual's personal tax and social security liability that arises on vesting.

 

As a result of and including the above transactions, the outstanding aggregate interest in Shares held by each individual is as follows:

 

 

 

 

 

Name

Interest in Shares under option⁴

Interest in Shares under long-term incentives⁵

Shares owned

(including those held by connected persons)

Robert Noel

-

666,117

293,849⁶

Martin Greenslade

1,938

439,453

386,233⁶

Colette O'Shea

2,195

224,037

  43,168

Scott Parsons

4,366

212,580

  53,490

⁴ Pursuant to the rules of the Company's all-employee Savings-Related Share Option Plan.

⁵ Pursuant to the rules of the Company's discretionary Long-Term Incentive Plan, Matching Share Plan and Deferred Share Bonus Plan (as applicable).

⁶ These interests are in significantly in excess of the holding levels required under the Company's share ownership guidelines (i.e. 250% x salary for the Chief Executive and 200% x salary for the Chief Financial Officer).

 

 

This notice is given in fulfilment of the Company's obligation under DTR 3.1.2R.

 

 

END

 

Land Securities contact:

 

Michael Arnaouti +44 (0)20 7024 5219

Deputy Company Secretary


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