National Express Group PLC
10 May 2018
NATIONAL EXPRESS GROUP PLC
Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")
The Company provides notification of the following transaction effected on 10 May 2018 outside of a trading venue relating to Chris Davies (a PDMR) and his interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).
The transaction arises following the vesting of Mr Davies' First Recruitment Incentive Award ("Award") granted to him under the terms of the Company's Long-Term Incentive Plan 2015 ("LTIP") on 10 May 2017 when he joined the Company. The performance-conditioned Award vested at a rate of 96.7% on 10 May 2018. (Full details of the Award, the performance conditions and vesting are set out in the Directors Remuneration Report to the Company's 2017 Annual Report.)
Name and position of PDMR
Number of Shares subject to original Award
Number of Shares vested under option¹
Number of Shares lapsed
Total beneficial interest held in Shares following the transaction2
Total other interest held in Shares following the transaction3
Chris Davies, Group Finance Director
¹ The Award was granted in the form of a nil cost option. Malus and clawback apply to the vested Shares for two years form the date of vesting. Upon exercise, all Shares will be delivered through the transfer of market purchased Shares from the Company's Employee Benefit Trust.
2 Including those held by connected persons.
3 Under the Company's Executive Deferred Bonus Plan and LTIP.
The Company can confirm that Chris Davies has complied with his obligation to notify the Financial Conduct Authority in respect of the above transaction as is his requirement under the EU Market Abuse Regulation.
- END -
National Express contact and telephone number for enquiries:
Michael Arnaouti, Group Company Secretary
++44 (0) 207 805 3807
Legal Entity Identifier: 213800A8IQEMY8PA5X34
Classification: 3.1 (with reference to DTR6 Annex 1R)
This information is provided by RNS