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Inmarsat PLC (ISAT)

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Friday 30 March, 2012

Inmarsat PLC

Director/PDMR Shareholding

RNS Number : 5080A
Inmarsat PLC
30 March 2012
 

RNS NOTIFICATION: 30 March 2012

 

SHARE AWARDS TO EXECUTIVE DIRECTORS AND PDMRs

 

These notifications are made in accordance with DR 3.1.4.R.

 

PERFORMANCE SHARE PLAN

 

The following contingent awards have been made under the Performance Share Plan ("PSP") on 30 March 2012 using the mid-market closing price of £4.54 from 29 March 2012.

 

Name

Number of ordinary shares awarded under PSP on 30 March 2012

 

Andrew Sukawaty*

 

304,663

 

Rupert Pearce*

 

135,462

 

Rick Medlock*

 

72,872

 

Jim Parm

 

65,802

 

Ruy Pinto

 

50,660

 

Leo Mondale

 

53,472

 

Perry Melton

 

41,559

 

Debbie Jones

 

32,585

 

Alison Horrocks

 

30,645

 

Rich Harris

 

32,416

 

*Denotes executive director.  All other executives are those who are considered Persons Discharging Managerial Responsibility.

 

The shares will generally vest on the third anniversary of the date of grant, in March 2015 to the extent that performance conditions have been satisfied.  Awards were made at nil cost to participants.   The two performance conditions are the Company's relative TSR performance against companies in the FTSE350 and EBITDA growth over a three-year period.

 

BONUS SHARE PLAN ("BSP")

On the same date, the following executive directors and PDMRs were each given a monetary award under the Company's Bonus Share Plan: Andrew Sukawaty, Rupert Pearce, Rick Medlock, Jim Parm, Ruy Pinto, Leo Mondale, Perry Melton, Debbie Jones, Alison Horrocks and Rich Harris.

 

Subject to the Company meeting its corporate targets for the 2012 financial year, the monetary award will be converted to an award of shares following the announcement of the Company's 2012 financial results, expected in March 2013.  If the targets are achieved, an announcement as to the number of shares to be awarded will be made at that date.  If an award of shares is made, the shares will vest in three tranches in March 2014, March 2015 and March 2016.

 

PDMR TRANSACTION IN SHARES

The Company has been advised that Mr Rich Harris, a PDMR, purchased 25,000 shares at £4.5595 on 29 March 2012.  His beneficial interest in the Company's shares is now 29,752 Ordinary Shares.

 


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