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ITV PLC (ITV)

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Monday 29 March, 2010

ITV PLC

Director/PDMR Shareholding

RNS Number : 3661J
ITV PLC
29 March 2010
 



29 March 2010

 

 

ITV plc Deferred Share Award Plan (the "DSA")

 

Awards made under the DSA

 

On 26 March 2010 a number of directors and executives of the Company were granted awards over ordinary shares of the Company under the DSA. The awards were based on the achievement of performance targets in respect of the period from 1 January 2009 to 31 December 2009.

 

Directors of the Company received awards in the form of restricted shares as set out below, which, under the rules of the DSA will not vest until 31 December 2010 (50%) and 31 December 2011 (50%).

 

Name

Number of Shares

 

John Cresswell

356,867

Ian Griffiths

383,724

Rupert Howell

262,663

 

PDMRs of the Company received awards in the form of restricted shares as set out below, which, under the rules of the DSA will not vest until 31 December 2010 (100%).

 

Name

Number of Shares

 

Lee Bartlett

273,302

Andy Doyle

69,452

Carolyn Fairbairn

217,223

Peter Fincham

340,316

Andrew Garard

140,678

 

Award vesting under the DSA

 

Awards are granted over ordinary shares of ITV plc under the DSA based on the achievement of performance targets. On 26 March 2010 awards previously made in respect of the 2008 financial year were exercised by Peter Fincham, a PDMR of the Company.

 

On 26 March 2010 the Trustee sold sufficient shares at 59.5617p per share to satisfy income tax, national insurance liabilities and costs, and the balance have been retained by Mr Fincham. Details of the transaction are set out below:

 

Name

Date nil cost option Awarded

Option exercised over shares

Shares sold for income tax, NICs & associated costs

Shares retained

Peter Fincham

24 April 2009

534,492

219,586

314,906

 

 

ITV Performance Share Plan (the "PSP")

 

On 26 March 2010 a number of directors and executives of the Company were granted nil-cost options over ITV plc ordinary shares under the PSP as follows:

 

Directors of the Company

 

Name

Number of nil-cost options awarded

 

Ian Griffiths

933,820

Rupert Howell

791,001

 

PDMRs of the Company

 

Name

Number of nil-cost options awarded

 

Lee Bartlett

791,001

Andy Doyle

351,556

Carolyn Fairbairn

615,223

Peter Fincham

861,312

Andrew Garard

597,645

 

 

The options will become exercisable on the third anniversary of the grant of the Award, subject to the achievement of performance conditions. 

 

75% of the Award may vest subject to the achievement of Total Shareholder Return "TSR" performance.

 

25% of the Award may vest subject to the achievement of strategic conditions.  

 

Any portion of the award that does not vest on the third anniversary of the grant of the Award will lapse.

 

 

For further enquiries please contact:

 

ITV plc

Tel: 020 7157 3000

 

Investor enquiries

Christy Swords

020 7157 6572 or 07881 505783

Pippa Foulds                

020 7157 6555 or 07778 031097

Media enquiries


Ruth Settle                   

020 7157 3707 or 07946 346698

Louise Evans    

020 7157 3710 or 07825 680994

Tulchan Communications


Andrew Grant / Susanna Voyle, Tulchan

020 7353 4200

 

Website: www.itv.com; investor information: www.itvplc.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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