24th Jul 2007 17:39
Vodafone Group Plc24 July 2007 STOCK EXCHANGE ANNOUNCEMENT Vodafone Group Plc ("the Company") In accordance with Disclosure and Transparency Rule 3.1.4R(1), I have to informyou of the following changes in share interests of directors and PDMRs of theCompany: Number of ordinary shares of US$0.113/7 in the capital of Vodafone Group Plc ------------------------------------------ Award of performance Grant of share shares options (1) (3) (2) (3) Arun Sarin* 3,065,872 5,912,753Vittorio Colao* 1,557,409 3,003,575Andrew Nigel Halford* 1,190,305 2,295,589Paul Michael Donovan 894,293 1,724,709Warren Finegold 596,775 1,150,923Alan Paul Harper 590,768 1,139,338Terry Kramer 438,021 844,755Simon David Lewis 438,670 846,007Steve Pusey 491,325 947,556Frank Rovekamp 457,952 883,194Stephen Roy Scott 483,639 932,732 * Denotes Director of the Company (1) Conditional awards of shares were granted on 24 July 2007 by the Company.The awards have been granted in accordance with the Vodafone Global IncentivePlan. The vesting of these awards is conditional on continued employment withthe Vodafone Group and on the satisfaction of a performance condition approvedby the Remuneration Committee. The performance measure is comparative totalshareholder return (TSR). The TSR of Vodafone Group Plc over the three yearperformance period, 1 April 2007 to 31 March 2010, is compared to thosecompanies in the top 50% of the FTSE Global Communications index by marketcapitalisation and companies are ranked by reference to their relative TSRperformance. If Vodafone's TSR performance is such as to position it in the tophalf of the performance ranking of the constituent companies, 25% of the awardwill vest rising on a straight line basis to full vesting if the Company'sperformance is within the top 20% of companies in the peer group. (2) The share options were granted on 24 July 2007 by the Company inaccordance with the Vodafone Global Incentive Plan. The options will beexercisable at a price per share of 167.8p, subject to continued employment withthe Vodafone Group and the satisfaction of a performance condition approved bythe Remuneration Committee. The performance condition is that the compoundannual growth in adjusted earnings per share over the three-year performanceperiod must be at least 5% per annum. If annualised EPS growth of 5% per annumis achieved, 25% of the option will vest rising on a straight line basis to fullvesting for achievement of annualised EPS growth of at least 8% per annum. Theoptions are normally exercisable at any time between three and ten years fromthe date of grant. (3) These awards are also conditional on the directors and other PDMRs beingcompliant with the Company's share ownership guidelines, which provide that theywill acquire and maintain minimum levels of shareholding. The levels are fourtimes salary for the Chief Executive, three times salary for other Boarddirectors and two times salary for the other PDMRs, who are members of theExecutive Committee. Stephen ScottGroup General Counsel and Company Secretary This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Vodafone