Director/PDMR Shareholding

RNS Number : 3954Z

London Stock Exchange Group PLC

05 February 2014

 



London Stock Exchange Group plc ("the Company")

5 February 2014

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS

DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMR") OR CONNECTED PERSONS

Acquisition of shares under the London Stock Exchange Group Long Term Incentive Plan for Suneel Bakhshi

The Company has received notification that on 3 February 2014 Suneel Bakhshi ("the executive") who is a PDMR purchased 7,938 ordinary shares of 6 79/86 pence each in the Company.

The executive is participating in the London Stock Exchange Group Long Term Incentive Plan for Suneel Bakhshi ("LTIP") whereby the executive undertakes to purchase Shares in the Company (Invested Shares) and, in return, is granted a matching award of Shares. 

In return for the executive purchasing Invested Shares the Company granted the executive a matching award in the form of a nil cost option under the LTIP on 5 February 2014 over the number of Shares as set out below which equals two times the number of ordinary shares that the executive could have purchased had the investment been made on a pre-tax basis (the Matching Award).

PDMR	Date of Purchase of Invested Shares	Number of Invested Shares Purchased	Number of ordinary shares conditionally awarded under the Matching Award on 5 February 2014
Suneel Bakhshi	3 February 2014	7,938 ordinary shares at a price of £18.36 per share	29,891

To be eligible for the Matching Award to vest, the executive must hold the Invested Shares and remain in employment until 1 March 2017.  The actual number of Shares transferred to the executive on the vesting of the Matching Award will depend on the extent to which specified corporate performance targets are satisfied over the applicable performance periods.

The Company also granted the executive a Performance Share award under the LTIP on 5 February 2014 in the form of a nil cost option to acquire ordinary shares in the Company (the "Performance Award").

PDMR	Number of ordinary shares awarded for no consideration under the Performance Award on 5 February 2014
Suneel Bakhshi	54,347

To be eligible for the Performance Award to vest, the executive must remain in employment until 1 March 2017. The actual number of Shares transferred to the executive on the vesting of the Performance Award will depend on the extent to which specified corporate performance targets are satisfied over the applicable performance periods.

The performance targets applied to the Matching Award and the Performance Award under the LTIP are the same as the targets applied to awards granted to participants of the Company's LTIP in 2013/14 financial years.

Full details of the Company's LTIP are provided in the Directors Remuneration Report in the London Stock Exchange Group plc 2013 Annual Report.

Additionally the Company granted a restricted share award in the form of a nil cost option to the executive on 5 February 2014 under the London Stock Exchange Group Restricted Share Award Plan 2008.  The shares will vest in 2 equal tranches. The first tranche will vest automatically subject to the executive remaining in employment until 1 March 2015 and the second tranche will vest automatically subject to the executive remaining in employment until 1 March 2016.

PDMR	Number of ordinary shares awarded for no consideration under the Restricted Share Award on 5 February 2014
Suneel Bakhshi	29,891

This notification relates to a disclosure made in accordance with Disclosure Rule 3.1.4R (1) (a).

Name of contact and telephone number for queries

Lisa Condron, Group Company Secretary Tel: [phone]

Name and signature of duly authorised officer of issuer responsible for making notification

Lisa Condron

Date of notification

5 February 2014

 

END

 

 

RDSLLFEEFEIEIIS