8th May 2014 15:54
8 May 2014
ROLLS-ROYCE HOLDINGS plc
Rolls-Royce Holdings plc (Company) announces that on 7 May 2014, ordinary shares in the company were transferred to the following persons discharging managerial responsibility (PDMRs) by EES Trustees International Ltd (the trustee of the Rolls-Royce Group 2008 Employee Share Trust) in relation to deferred awards made under the Company's Annual Performance Related Award plan (APRA) in 2012. In addition, the PDMRs sold the number of shares listed below to discharge their tax obligations arising from the release of the shares on 7 May 2014 at 1015.81 pence per share. The details of the PDMRs who immediately sold the shares released to them at 1015.81 pence per share are listed below.
| APRA Award (including dividend enhancement)
| Number of Shares Sold to Discharge Tax Obligations
| Total Shares Released | Total number of shares sold on release |
PDMRs | ||||
J Guyette | 29,216 | 9,873 | 19,343 | - |
M Morris | 6,375 | 2,997 | 3,378 | - |
J Rishton | 46,064 | 21,651 | 24,413 | - |
C Smith | 27,996 | 13,159 | 14,837 | 14,837 |
| ||||
PDMRs | ||||
M Cowdry | 12,306 | 5,169 | 7,137 | 7,137 |
K Durrant | 8,753 | 4,114 | 4,639 | 4,639 |
L Haynes | 21,601 | 10,153 | 11,448 | - |
A Heath | 12,572 | 5,909 | 6,663 | 6,663 |
A Michaelis | 18,215 | 8,562 | 9,653 | - |
A Wood | 20,001 | 9,401 | 10,600 | 10,600 |
The shares have been held in trust for two years and have been released by the trustee in accordance with the rules of APRA.
The Company also transferred ordinary shares to the following executive directors and persons discharging managerial responsibility (PDMRs) in relation to awards made under the Rolls-Royce Group plc Performance Share Plan (PSP) in March 2011. In accordance with the rules of the PSP, the Trustee sold the number of shares listed in column B below to discharge tax obligations arising from the release and, in addition, sold further shares from those released as set out in column D below, all of such sales at a price of 1015.81 pence.
| A | B | C | D |
| Number of Shares vested
| Number of Shares Sold to Discharge Tax Liability
| Total Shares released (A-B) | Total number of released shares sold |
Executive directors | ||||
J Guyette | 123,608 | 51,619 | 71,989 | - |
M Morris | 31,299 | 14,711 | 16,588 | - |
J Rishton | 247,299 | 116,231 | 131,068 | - |
C Smith | 112,220 | 52,744 | 59,476 | 59,476 |
| ||||
PDMRs | ||||
M Cowdry | 57,849 | 24,297 | 33,552 | 33,552 |
K Durrant | 42,146 | 19,809 | 22,337 | 11,168 |
L Haynes | 80,799 | 37,976 | 42,823 | - |
A Heath | 54,864 | 25,787 | 29,077 | 29,077 |
A Michaelis | 66,926 | 31,456 | 35,470 | 35,470 |
A Wood | 61,145 | 28,379 | 32,406 | 19,400 |
All PSP participants must retain 50 per cent of the shares they receive under the PSP scheme until they retire from the Company or achieve a minimum shareholding requirement. The minimum shareholding requirement is 250 per cent of salary for the Chief Executive and 200 per cent for other executive directors. This ensures that the participants have a personal financial interest in the long-term success of the business.
The following shares were released to John Rishton on 7 May 2014 arising from the special grant of shares made to him on joining the Company in March 2011. In addition, the Trustee sold the number of shares listed below to discharge his tax obligations arising from the release of the shares at a price of 1015.81 pence per share.
| No of Shares vested
| Number of Shares Sold to Discharge Tax Liability | Total Shares Released to Certificate |
Performance related shares | 95,096 | 44,696 | 50,400 |
For further information, please contact:-
Simon Goodson - Director - Investor Relations +44 (020) 7227 9237
Related Shares:
Rolls-Royce