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National Express (LON:NEX)

National Express (LON:NEX)


Share Price
421.00 p
Change
1.2 (0.29 %)
Market Cap
£2,154.42 m
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National Express RNS Release

Director/PDMR Shareholding


RNS Number : 1748P
National Express Group PLC
24 May 2018
 

National Express Group PLC

24 May 2018

NATIONAL EXPRESS GROUP PLC

 ("Company")

 

Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

 

The Company provides notification of the following transactions effected on 23 May 2018 relating to Dean Finch, PDMR, and his respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

 

The transactions arise from: (i) the vesting and exercise of a nil cost option over certain Shares pursuant to the 5-year performance conditioned award granted to him on 23 May 2013 under the terms of the Company's 2005 (as amended) Long-Term Incentive Plan ("LTIP"), and (ii) the immediate subsequent sale on the London Stock Exchange of the Shares acquired under (i) above. Full details of the award, the applicable performance conditions and the vesting levels are set out in the Directors Remuneration Report to the Company's 2017 Annual Report which is available on its website at www.nationalexpressgroup.com.  

 

Name and position of PDMR

Number of Shares over which original award granted

Number of Shares vesting and acquired on exercise of nil cost option

Number of acquired Shares sold at 420.88p per share

 

Total beneficial interest held in Shares following transactions

 

Total other interest held in Shares following transactions

 

Dean Finch, Group Chief Executive⁵

 

 

257,973

 

189,222¹

 

189,222²

 

249,483³

 

1,342,102

                                                                                               

¹ All Shares delivered through the transfer of market purchased Shares from the Company's Employee Benefit Trust. No malus and clawback and no holding period restrictions apply to the vested Shares. All unvested Shares automatically lapse.

² Including Shares sold on a compulsory basis to cover the immediate personal tax and social security liability arising on vesting.

³ Including Shares held by connected persons.

⁴ Including interests under the Company's LTIP and Executive Deferred Bonus Plan ("EDBP").

Post the above transactions, Mr Finch has a residual shareholding value (comprising his beneficially owned Shares and the forfeitable Shares in which he has an interest under the EDBP) which is greater than the 200% of salary value which he is required to attain by 2020 under the Company's share ownership guidelines.

 

The Company can confirm that Mr Finch has complied with his obligation under the EU Market Abuse Regulation to notify the Financial Conduct Authority in respect of the above transactions.

 

-     END    -

 

National Express contact and telephone number for enquiries

Michael Arnaouti, Group Company Secretary: ++44 (0) 207 805 3807

 

Notes

Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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