Director/PDMR Shareholding

RNS Number : 9566G
Vodafone Group Plc
04 July 2012
 



 

Vodafone Group Plc ("the Company")

 

In accordance with Disclosure and Transparency Rule 3.1.4R(1), the Company gives notice of the following changes in share interests of directors and persons discharging managerial responsibilities ("PDMRs") of the Company:

 


Number of ordinary share of US$0.113/7

in the capital of Vodafone Group Plc


Award of performance shares (1) (2)

Vittorio Colao*

4,511,080

Andrew Halford*

1,287,625

Stephen Pusey*

2,072,397

Warren Finegold

1,742,843

Nicholas Read

1,880,086

Morten Lundal

1,602,163

Ronald Schellekens

1,618,511

Rosemary Martin

892,583

Matthew Kirk

1,275,192

 

* Denotes Director of the Company

 

(1) Conditional awards of shares were granted on 3 July 2012 by the Company. The awards have been granted in accordance with the Vodafone Global Incentive Plan (incorporating co-investment). The vesting of these awards is conditional on continued employment with the Vodafone Group, retention of co-investment and on the satisfaction of a performance condition approved by the Remuneration Committee. The performance condition is based on free cash flow performance with a multiplier that is based on comparative total shareholder return ("TSR") performance. The free cash flow performance is based on a three year cumulative adjusted free cash flow figure. The target adjusted free cash flow level is set by reference to the Company's three year plan and market expectations; 100% of the award will vest for target performance, rising to 150% vesting for maximum performance. The multiplier is based on the TSR of the Company over the three year performance period 1 April 2012 to 31 March 2015 relative to a peer group of five companies within the European Telecoms sector as well as one emerging market composite. There will be no increase in vesting until TSR performance exceeds median, at which point the multiplier will increase up to two on a linear basis for upper quintile performance. The maximum vesting is 300%: for maximum free cash flow performance (150%) and maximum TSR performance (multiplier of 2). For further details of the Plan, please see pages 79 and 80 of the Company's 2012 Annual Report, available at www.vodafone.com/investor.

 

(2)  The Directors and other PDMRs are subject to the Company's share ownership guidelines, which provide that they will acquire and maintain minimum levels of shareholding. The levels are four times salary for the Chief Executive, three times salary for other Board Directors and two times salary for the other PDMRs, who are members of the Executive Committee.

 

In addition, the Company was advised on 3 July 2012 by UBS Trustees (Jersey) Limited that on 2 July 2012 Rosemary Martin acquired an interest in 96,185 shares of US$0.11 3/7 each in the Company at the price of 178.2 pence per share.  These shares will be used for the purpose of co-investment.

 

The Company was notified of these changes on 3 July 2012.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RDSLLFVRDVISIIF
UK 100

Latest directors dealings