Director/PDMR Shareholding

RNS Number : 0456D

Vodafone Group Plc

01 July 2016

 

VODAFONE GROUP PLC

('the Company')

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY OR CONNECTED PERSONS

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
	Acquisition of Ordinary shares (1)	Award of performance shares (2) (3)
Vittorio Colao*		3,078,938
Nick Read*		1,432,123
Johan Wibergh	223,016	1,075,162
Hannes Ametsreiter	245,722	1,172,625
Antonio Coimbra	18,785	1,036,369
Aldo Bisio	91,414	1,126,960
Jeroen Hoencamp		779,760
Nick Jeffery		1,118,170
Matthew Kirk		531,045
Rosemary Martin		1,021,118
Ronald Schellekens		1,064,413
Serpil Timuray		1,180,865

^* Denotes Director of the Company

(1) An interest in Ordinary Shares of US$0.20 20/21 each was acquired at the price of 222.64 pence on 30 June 2016.  These shares will be used for the purpose of co-investment.

(2) Conditional awards of shares were granted on 30 June 2016 by the Company. The awards have been granted in accordance with the Vodafone Global Incentive Plan, and incorporates co-investment.  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 2016 to 31 March 2019 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 80 of the Company's 2016 Annual Report, available at www.vodafone.com/investor.

(3) 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.

The Company was notified of these changes on 30 June 2016.

 

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