Director/PDMR Shareholding

RNS Number : 8473H

Smith (DS) PLC

17 July 2012

 



DS Smith Plc (the "Company")

In pursuance of the Company's obligations under Disclosure Rule 3.1.4R (i)(a), the Company hereby notifies that the following Directors and PDMR share transactions occurred on 16 July 2012.

1) Miles Roberts, Steve Dryden and Gary Saunders notified the Company on 16 July 2012 that, as a result of being granted an award under the DS Smith Deferred Share Bonus Plan (the "Bonus Plan"), they have acquired a conditional right to receive the number of Shares set out below.  The award under the Bonus Plan referred to above will normally vest on the third anniversary of the date of grant, being 16 July 2015.

The awards were granted by reference to the closing middle market quotation of a Share on 13 July 2012 of 148.05 pence, and operate subject to the conditions set out in the rules of the Bonus Plan.  

A matching element of 1.5x the Bonus Plan for the Executive Directors and 1x the Bonus Plan for other senior executives was awarded under the Share Matching Plan.  The awards operate subject to the conditions set out in the rules of the Share Matching Plan.  They will normally vest, subject to the satisfaction of performance conditions, on the third anniversary of the date of grant, being 16 July 2015.  If a Bonus Plan award lapses before the vesting of the related matching award then that matching award will lapse at the same time.

Deferred Share Bonus Plan

Name	Status	No. of Deferred Shares subject to award		Maximum No. of Matching Shares subject to award
Miles Roberts	Director	192,502	288,753
Steve Dryden	Director	120,567	180,850
Gary Saunders	PDMR	41,003	41,003

No consideration was paid for the grant of the award. No price is payable on the vesting of the award.  

2) The PDMRs listed below notified the Company on 16 July 2012 that, as a result of being granted an award under the DS Smith Performance Share Plan (the "Performance Share Plan"), they have each acquired a conditional right to receive the number of Shares listed below.

The awards were granted by reference to the closing middle market quotation of a Share on 13 July 2012 of 148.05 pence, and operate subject to the conditions set out in the rules of the Performance Share Plan.  They will normally vest, subject to the satisfaction of performance conditions, on the third anniversary of the date of grant, being 16 July 2015.  

Performance Share Plan

Name	Status	Maximum No. of Shares
Miles Roberts	Director	577,507
Steve Dryden	Director	361,702
Gary Saunders	PDMR	182,370

No consideration was paid for the grant of the awards. No price is payable on the vesting of the awards.

For and on behalf of DS Smith Plc

Company Official Responsible for making this notification:

Matthew Jowett, Company Secretary

Date of this notification: 17 July 2012

 

END

 

 

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