3rd Apr 2007 15:36
GKN plc Notification of Transactions of Persons Discharging Managerial Responsibility
Awards of conditional rights under the GKN Profit Growth Incentive Plan (PGIP) were made on 2 April 2007 to the following Executives of GKN plc (the `Company') (each a PDMR) deliverable as 50p ordinary shares of the Company:
Name of PDMR and number of shares the subject of the award (at one timesentitlement)Marcus Bryson 20,383Arthur Connelly 26,170Maureen Constantine 18,319Grey Denham 18,319Simon Pryce 28,352Andrew Reynolds Smith 25,340Martyn Vaughan 16,776
The above awards are the first to be granted under the PGIP; there are no prior awards outstanding. The shares, if any, that will become capable of release will depend on the extent to which profit growth targets are satisfied by the Company over the 3 year performance period which commenced on 1 January 2007; the Company's reported profit for 2006 forms the baseline for this performance measure. The above number of shares will be released following the performance period if the minimum targeted profit growth is achieved. A maximum of twice the amount of shares listed above will be released on achievement of the maximum profit target. No shares will be released and the awards will lapse if the minimum profit target is not achieved. Release is also conditional upon the Executive satisfying a personal shareholding requirement. Any awards deliverable under the PGIP will be satisfied from GKN ordinary shares already in issue.
G. DenhamCompany Secretary
3 April 2007
GKN PLCRelated Shares:
GKN PLC