9th Jul 2013 10:18
ELECTROCOMPONENTS PLC (the "Company")
Deferred Share Bonus Plan (the "Plan") - Vesting of 2011 Awards
Electrocomponents announces the following:
On 5 July 2011, the Remuneration Committee awarded 100,483 ordinary 10 pence shares in the Company ("Shares") to Ian Mason (Group Chief Executive) and 66,989 Shares to Simon Boddie (Group Finance Director) under the Plan, subject to a two year retention period and, normally, continued employment with the Company.
On 5 July 2013, the shares vested in full. No consideration is payable for the Shares.
The Company was informed on 8 July 2013 that Shares were sold on behalf of Ian Mason and Simon Boddie as follows at a price of 242.42p in order to meet their income tax and National Insurance liabilities (and associated dealing costs) on the vesting of the Awards:
Ian Mason 47,322 Shares
Simon Boddie 31,548 Shares
Following these transactions, Ian Mason has an interest in a total of 420,996 Shares and Simon Boddie has an interest in a total of 259,644 Shares, together representing 0.16% of the issued share capital and voting rights of the Company.
This announcement relates to transactions notified in accordance with DTR 3.1.2R.
Ian Haslegrave
Company Secretary
9 July 2013
Related Shares:
ECM.L