Source - LSE Regulatory
RNS Number : 5667U
National Express Group PLC
06 April 2021
 

 

NATIONAL EXPRESS GROUP PLC

 ("Company")

 

Notification of transactions by a Person Discharging Managerial Responsibilities ("PDMR")

 

The Company provides notification of the following transactions effected on 6 April 2021 relating to the below named PDMR and his interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).

 

The transactions arise in respect of: (i) the 6.52% vesting on 3 April 2021 of a three-year performance conditioned nil cost option award over certain Shares granted on 3 April 2018 to the below-named PDMR under the Company's Long-Term Incentive Plan 2015 ("2018 LTIP Option"); and (ii) the exercise by the below-named PDMR of his 2018 LTIP Option over all vested Shares thereunder and immediate sale of a sufficient number of Shares to cover his personal tax liability arising on such exercise.

 

Name and position of PDMR

Number of Shares vested under the 2018 LTIP Option on 3 April 2021 and sold on 6 April 2021¹

Number of vested Shares acquired and retained on exercise of the 2018 LTIP Option²

Beneficial interest of PDMR in Shares following the transaction 3

 

Total other

interest held in

Shares following the transaction 4

 

Chris Davies, Group Chief Financial Officer

 

 

9,061 Shares vested and 4,268 sold at

329.4 pence                per Share

 

 

4,793

 

253,031

 

567,835

¹ Vested Shares under the 2018 LTIP Option have both a two-year exercise and a two-year compulsory holding period which run concurrently. The compulsory holding period is subject to an entitlement to sell a sufficient number of vested Shares to satisfy tax liabilities arising on exercise of the 2018 LTIP Option. Any residual vested Shares held beneficially post-exercise of the 2018 LTIP Option must be retained for the remainder of the holding period. Malus and clawback also apply to such vested Shares for two years form the date of vesting, including post termination of employment. Vested Shares qualify on vesting for an accrued dividend equivalent entitlement from the Company.

² All Shares delivered on exercise of the 2018 LTIP Option were through the transfer of market purchased Shares held in the Company's Employee Benefit Trust.

³ Including those held by connected persons.

⁴ Represents outstanding awards granted under the Company's Long-Term Incentive Plan.

 

 

 

1.           

Details of PDMR / PCA


Full Name

Chris Davies


Position / status

Group Chief Financial Officer, PDMR


Initial notification / amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

 

 

 

 

Name

National Express Group PLC

LEI

213800A8IQEMY8PA5X34

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted


Description of the financial instrument

 

Ordinary shares of 5p each

 

 

 

 


Identification code

GB0006215205

 


Nature of the transaction

1.   Vest of nil cost option under the Company's 2015 Long-Term Incentive Plan

2.   Exercise of vested nil cost option under the Company's 2015 Long-Term Incentive Plan and sale of sufficient shares to cover tax


Price(s) and volume(s)


Price(s)

Volume(s)

Total

1.

£ n/a

9,061

n/a

2.

£3.294

4,268

£14,058.79


Date of the transaction

6 April 2021


Place of the transaction

London Stock Exchange

 

This above notice is given in fulfilment of the Company's obligation under DTR 3.1 and Article 19 of the EU Market Abuse Regulation 596/2014.

 

-     END -

 

National Express contact and telephone number for enquiries:

 

Jennifer Myram, Company Secretary

07880 472885

 

Melanie Travis, Deputy Company Secretary

07990 802678

 

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 rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHDKABQPBKDKQK
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJBell logo

Related Charts