18th Mar 2008 16:12
Galiform PLC18 March 2008 GALIFORM PLC - DISCLOSURE OF TRANSACTIONS CONDUCTED ON PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY'S OWN ACCOUNT; OPERATION OF THE COMPANY'S SHARE INCENTIVE PLANS. Release of shares from former Senior Management Co-Investment Plan The Company was notified on 17 March 2008 that the following Persons DischargingManagerial Responsibility (PDMR) have increased their shareholding in theCompany due to a release of shares previously committed to a Senior Management Co-Investment Plan (the "Plan"). The Plan under which grants were made from2002 - 2005 allowed selected senior executives to defer all or some of theirannual bonus into the Plan. The deferred amounts were converted into shares ("Commitment Shares") which were then held conditionally on behalf of theexecutives by the Company's Employee Benefit Trust for a three year period. Atthe end of the period, assuming performance criteria had been met, a matchingshare award of 1.5 times the number of Commitment Shares would be made. Although the matching shares have not been awarded in this instance due to theperformance criteria not having been met, the Commitment Shares were yesterdayreleased from the Plan thus increasing the individual shareholdings of the following PDMRs. Executive Directors Commitment Shareholding Shares following Released release Gerard Hughes 25,388 217,240Persons discharging managerial responsibilityRobert Fenwick 6,544 18,200Andrew Witts 8,795 33,159Chris Youell 10,684 10,684 This announcement is made in accordance with the requirements of Disclosure Rule3.1.4.R Enquiries should be directed to: Caroline Bishop, Company Secretary: 020 7535 1140 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Howden Joinery