1st Apr 2011 14:53
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIESAND CONNECTED PERSONS
In accordance with DTR 3.1.4R (1), GKN plc (the "Company") announces that on 1 April 2011 the Executive Directors and other PDMRs received awards as set out below under the GKN Executive Share Option Scheme 2004 ("ESOS"), the GKN Long Term Incentive Plan 2004 ("LTIP"), the GKN Profit Growth Incentive Plan ("PGIP") and the GKN Deferred Bonus Plan ("DBP") respectively.
ESOS Awards:Director/PDMR Number of options Exercise price Total number of (fixed at time of options held under grant) ESOS Marcus Bryson 168,353 199.58 1,104,438 Andrew Reynolds Smith 168,353 199.58 1,263,749 William Seeger 164,345 199.58 1,138,689 Nigel Stein 200,420 199.58 1,877,614 Judith Felton 36,146 199.58 183,699 Gerard Lavery 65,136 199.58 65,136 Douglas McIldowie 45,518 199.58 282,738 Walter Rohregger 61,509 199.58 467,425The options can be exercised between 1 April 2014 and 31 March 2021 to theextent to which the total shareholder return targets are satisfied by theCompany over a three year performance period, which commenced on 1 January2011, and subject to the satisfaction by the Executive Director/PDMR of apersonal shareholding requirement. No consideration was paid for the grant ofthe options.LTIP Awards:Director& PDMR Number of shares Total number of share awards held under LTIP Marcus Bryson 343,558 925,330 Andrew Reynolds Smith 343,558 938,707 William Seeger 335,378 921,452 Nigel Stein 408,997 1,123,558
The shares, if any, that will be capable of release will depend on the extent to which EPS growth targets are satisfied by the Company over the three year performance period which commenced on 1 January 2011. Release is also conditional upon the satisfaction by the Executive Director of a personal shareholding requirement. Any shares that are capable of release will be subject to a one year deferment period with the earliest possible release date being 1 April 2015. No consideration was paid for the grant of the awards and no payment is due on release of the awards.
PGIP Awards:PDMR Number of shares Total number of share awards held under PGIP Judith Felton 36,146 80,967 Gerard Lavery 65,136 65,136 Douglas McIldowie 45,518 101,960 Walter Rohregger 61,509 138,300The shares, if any, that will be capable of release will depend on the extentto which profit growth targets are satisfied by the Company over the three yearperformance period which commenced on 1 January 2011. The above number ofshares will be released following the performance period if the minimumtargeted profit growth is achieved. A maximum of twice the amount of shareslisted above will be released on achievement of the maximum profit growthtarget. No shares will be released and the awards will lapse if the minimumprofit growth target is not achieved. Release is also conditional upon thesatisfaction by the PDMR of a personal shareholding requirement. Noconsideration was paid for the grant of the awards and no payment is due onrelease of the awards.DBP Awards:Director& PDMR Number of shares Total number of share awards held under DBP Kevin Smith 143,013 143,013 Marcus Bryson 57,918 57,918 Andrew Reynolds Smith 82,172 82,172 William Seeger 77,477 77,477 Nigel Stein 94,009 94,009 Judith Felton 33,496 33,496 Douglas McIldowie 42,182 42,182 Walter Rohregger 60,126 60,126
The DBP awards represent a percentage of the amount earned under the Company's annual bonus arrangements for 2010 compulsorily deferred and invested into GKN shares. Subject to the Rules of the DBP, shares will normally be released after a two year deferral period during which time any dividends earned are accrued and an equivalent cash amount paid on release of the shares.
1 April 2011
vendorRelated Shares:
GKN PLC