13th Mar 2012 07:00
UBM plc
Notification of transactions of directors
UBM plc ("UBM") was notified on 12 March 2012 of the following dealings in its ordinary shares ("Shares") by executive directors of UBM.
1. Bonus Investment Plan ("BIP")
On 9 March 2012 CEO David Levin, and CFO Robert Gray invested in aggregate £ 350,096 of their bonus entitlements for the year ended 31 December 2011 to acquire an interest in Shares as listed below. The acquisition price, which under the rules of the BIP is the Share price at the start of 2011 (being the performance period in respect of which the bonus was earned), was 671.76 pence per Share. The executive directors will become entitled to receive the Deferred Bonus Shares after a period of 3 years, subject to their continued employment in the UBM Group.
They may also become entitled to receive up to the maximum number of Matched Shares indicated below after a period of 3 years, subject to continued employment with the UBM Group and to earnings per share ("EPS") growth targets being met. In order to receive the maximum number of Matched Shares, EPS must increase by an average of at least 9% per annum over the 3 year period.
Name of Deferred Bonus Matched Shares director shares David Levin 34,472 68,944 Robert Gray 17,643 35,286
2. Performance Share Plan ("PSP")
Awards were made to executive directors on 9 March 2012 under the PSP as shown below. The number of Shares awarded was calculated by reference to a price of 586.67 pence per Share, being the average market value of Shares for the 3 trading days prior to the award. The executive directors will become entitled to receive the Shares after a period of 3 years, subject to continued employment with the UBM Group and to the achievement of total shareholder return ("TSR") targets by reference to a comparator group. The number of Shares shown below represents the maximum that may be acquired, if UBM's TSR exceeds the median TSR of its comparator group by at least 10% per annum over the 3 year period.
Name of director No. of shares David Levin 163,635 Robert Gray 115,311 3. Lapse of options
The following awards held by David Levin under the PSP and BIP failed to meet their respective performance conditions and will lapse on 13 March 2012.
Plan Date of grant No. of Shares No. of Shares lapsed vested PSP 13 March 2009 286,421 0 BIP 13 March 2009 69,444 0
4. Total number of options held
The total number of options over Shares held by the executive directors following the above notification is as follows:-
David Levin - 1,324,774 (of which 512,396 have vested or are subject only to continued employment, and 812,378 are required to meet performance conditions).
Robert Gray - 660,859 (of which 49,774 are subject only to continued employment, and 611,085 are required to meet performance conditions).
Anne Siddell
Company Secretary
XLONRelated Shares:
UBM