Director/PDMR Shareholding

RNS Number : 9031F

Vodafone Group Plc

16 November 2015

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

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, persons discharging managerial responsibilities ("PDMRs") of the Company and their connected persons:

	Number of ordinary share of US$0.20 20/21 in the capital of Vodafone Group Plc
	Award of shares
Hannes Ametsreiter(1)	1,022,928
Hannes Ametsreiter(2)	159,895
	Acquisition of shares
Hannes Ametsreiter(3)	212,883
	A	B	C
	Vesting of long term incentive award (4)	No. of vested shares sold (5)	No. of shares transferred (6)
Antonio Coimbra	56,708	26,111	30,597

Also, the Company gives notice that it was advised by Computershare Plan Managers on 16 November 2015 that Matthew Kirk acquired 6,233 ordinary shares of US$0.20 20/21 in the Company on 16 November 2015, at the price of 144.37 pence per share in connection with the 2012 3 year Sharesave plan.

Furthermore, the Company gives notice that an award over 1,421,538 shares granted in accordance with the Vodafone Global Incentive Plan to Philipp Humm on 14 November 2012 lapsed on 16 November 2015

(1) Conditional awards of shares were granted on 13 November 2015 by the Company. The awards have been granted in accordance with the Vodafone Global Incentive Plan.  The vesting of these awards is conditional on continued employment with the Vodafone Group 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 125% vesting for maximum performance. The multiplier is based on the TSR of the Company over the three year performance period 1 April 2015 to 31 March 2018 relative to a peer group of seven companies within the Telecoms sector. 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 250%: for maximum free cash flow performance (125%) and maximum TSR performance (multiplier of 2). For further details of the Plan, please see page 90 of the Company's 2015 Annual Report, available at www.vodafone.com/investor.

(2) An additional conditional award of shares was granted on 13 November 2015 by the Company.  The award was granted in accordance with the rules of the Vodafone Global Incentive Plan, will vest in two years from grant and is conditional on continued employment with the Vodafone Group.

(3) An interest in Ordinary Shares of US$0.20 ²⁰/₂₁ each was acquired in the Company, at the price of 220.15 pence per share on 16 November 2015.  These shares will be held for the purpose of co-investment.

(4) This share award which was granted on 14 November 2012 has vested.  The award was granted in accordance with the rules of the Vodafone Global Incentive Plan. The award was based on continued employment over the vesting period and vested entirely.

(5) The figure in column B is the number of shares of those listed in column A that the Company has been advised by UBS (London) ("UBS") were sold on behalf of the PDMR on 16 November 2015, inter alia, to satisfy the tax liabilities arising on the vesting of the awards.  This share sale was made at the price of 219.12 pence per share.

(6) The figure in column C is the number of shares that the Company has been advised by UBS were on 16 November 2015 transferred to the PDMRs in satisfaction of the vesting of the award disclosed in column A, after deduction of shares sold as disclosed in column B.

The Company was notified of these changes on 16 November 2015.

 

END

 

 

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