Source - RNS
RNS Number : 7677L
TUI AG
05 October 2016
 

TUI AG

PDMR INTEREST IN SHARES

 

Awards of Phantom Shares Under Long Term Incentive Programmes

 

TUI AG ("the Company") announces that phantom share awards ("Awards") were granted to the PDMRs set out in the table below under the TUI AG Long Term Incentive Plan. The Awards were granted at a base price of € 12.36 ¹ per share on 1 October 2016:

 

Name of the PDMR

Corporate Body

Number of Phantom Shares

Friedrich Joussen

Executive Board

119741

Horst Baier

Executive Board

54612

David Burling

Executive Board

40453

Sebastian Ebel

Executive Board

40453

Dr Elke Eller

Executive Board

33981

Wolfgang Flintermann 2

Supervisory Board

9709

 

 

The Awards granted to the Executive Board members were granted in accordance with the terms of their respective service contracts and will vest and be paid in cash subject to (i) a TSR performance target determined over a 4-year performance period; and (ii) the share price at the date of vesting.

 

The Award granted to Mr Flintermann was made under the Senior Management Long Term Incentive Plan with the same performance conditions but measured over a three year period rather than four.

 

The Company also announces that, following a resolution of its Supervisory Board, the rights of former TUI Travel PLC´s Executive Directors who are now PDMRs of the Company under TUI AG´s Long Term Incentive Plan (the "Plan") were settled early. As part of the merger between the Company and the former TUI Travel PLC ("PLC") in December 2014 all non-vested rights of the participants under the PLC share plans were exchanged for equivalent rights over TUI AG shares. The rights of David Burling (over 139,280 phantom shares) and Peter Long (over 455,604 phantom shares) were settled on 30 September 2016 at a price of € 12.50 per share.

 

In addition, the Supervisory Board also resolved to settle the award over 161,859 phantom shares granted to Peter Long under TUI AG´s Long Term Incentive Plan for the period 01 October 2014 to 09 February 2016 at a price of € 12.50 per share.

 

 

1       Average XETRA price of TUI AG shares over the 20 trading days prior to the date of grant.

2       Wolfgang Flintermann is an Employee Representative on the Supervisory Board and is, according to his role as Group Director Accounting, entitled to participate in a Senior Management LTIP scheme.

Dated:  05 October 2016


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

Related Charts

TUI AG (TUI)

+18.00p (+1.69%)
delayed 08:13AM