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National Express (NEX)

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Friday 25 February, 2011

National Express

Director/PDMR Shareholding

RNS Number : 9077B
National Express Group PLC
25 February 2011
 



NATIONAL EXPRESS GROUP PLC

 

National Express Group PLC (the "Company") announces that on Friday 25 February 2010 the following Executive Directors were awarded rights comprising forfeitable ordinary shares of 5 pence each under the National Express Group Executive Deferred Bonus Plan (the "Plan") as summarised below:

 

Executive Director

Number of forfeitable shares comprised within the award

Dean Finch

49,427

Jez Maiden

39,541

 

Subject to the terms of the Plan, the risk of forfeiture attached to the shares comprised within the awards will be released on the first anniversary of the grant of the awards contingent on the relevant grantee's continued employment within the Company's group of companies until such time.  No consideration was paid for the grant of these awards and no consideration is due on the vesting on these awards.

 

Also on 25 February 2010 the following awards of the Company's ordinary 5 pence shares were made to the Executive Directors of the Company (the 'Awards').  The Awards have been made in accordance with the rules of the Company's Long Term Incentive Plan approved at the 2005 AGM.  The Awards are granted as nil cost options; the calculations of the number of shares awarded being based on the middle market price on 24 February 2011 of 247 pence per share.  The awards will vest under normal circumstances, subject to the achievement of the performance conditions, in three years from the date of grant.

 

2011 LTIP Award

Existing Holdings


Performance Shares

Matching Shares

 

 

Executive Share Awards

National Express Group PLC shares

Dean Finch

222,672

267,204

500,846

68,275

Jez Maiden

170,040

204,048

713,497

116,347

 

National Express Group PLC was informed by the Executive Directors of the above transaction on 25 February 2011.

 

This notification is made in accordance with DR 3.1.4R(1)(a) and LR 12.6.4.

Name of contact and telephone number for queries:

Tony McDonald, Company Secretary & Group Legal Director

For and on behalf of National Express Group PLC.

A J McDonald

Date: 25 February 2011

 


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