Director/PDMR Shareholding

RNS Number : 4049X
Serco Group PLC
05 May 2016
 

Serco Group plc ('Serco' or 'the Company') advises that, on 3 May 2016, the individuals named below, each a person discharging managerial responsibility, were awarded a Matching Share Award, under the terms of the Company's Deferred Bonus Plan, as follows:

 


Investment Shares Purchased

Matching Share Award (Maximum)

Rupert Soames

303,825

1,154,540

Angus Cockburn

154,891

588,589

Liz Benison

70,272

267,041

Kevin Craven

25,417

96,592

David Eveleigh

10,392

39,494

Geoff Lloyd

10,392

39,494

 

The Investment Shares were purchased at 95.5471 pence per share each on the London Stock Exchange.  The number of Matching Shares that will vest under the Deferred Bonus Plan is conditional upon the satisfaction of a three-year EPS performance target: Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 7.5p (threshold) to 9.1p (maximum), measured as an aggregate over the three-year performance period ending 31 December 2018.  At threshold, a value equivalent to half of the gross investment will be converted to Matching Shares, increasing to a maximum of two times the gross investment at the maximum performance target level.  Pre-vesting malus and post-vesting clawback will also apply to the Matching Share Award.  In exceptional circumstances the Remuneration Committee retains discretion to change performance measures and targets part-way through the performance period if there is a significant event such as a major transaction.

 

This announcement replaces the announcement made on 3 May 2016, which stated incorrectly the number of Investment Shares purchased by Angus Cockburn as 169,503.

 

This notice is given in fulfilment of obligations under DTR3.1.4R(1)(a).


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Serco Group (SRP)
UK 100

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