28th Feb 2013 15:29
GKN PLC - Director/PDMR ShareholdingGKN PLC - Director/PDMR Shareholding
PR Newswire
London, February 28
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND CONNECTED PERSONS
GKN plc (the "Company") has today been notified by the Trustee of its EmployeeShare Ownership Trust of the transfer of ordinary 10p shares in the Company toPersons Discharging Managerial Responsibilities ("PDMRs") under the GKNDeferred Bonus Plan ("DBP") and the GKN Profit Growth Investment Plan ("PGIP")as set out below.
DBP
The shares released represent a percentage of the amount earned under theCompany's 2010 annual bonus arrangements which were compulsorily deferred andinvested into GKN shares. Shares were released after a two year deferralperiod; during this period, dividends earned on the shares were accrued and anequivalent cash amount paid on release of the shares.
A number of shares were subsequently sold at a price of £2.63075 per share,principally to settle tax liabilities arising from the release of the shares;these are detailed below.
Director & PDMR Shares Shares Shares released sold retained Marcus Bryson 57,918 30,178 27,740 Andrew Reynolds 82,172 42,816 39,356Smith William Seeger 77,477 27,794 49,683 Nigel Stein 94,009 - 94,009* Judith Felton 33,496 17,453 16,043 Douglas McIldowie 42,182 42,182 -* Subsequently transferred to Mrs. J. Stein, a connected person of
Mr. N. Stein. PGIPShares under the PGIP were released following the satisfaction of profit growthtargets measured over a three year performance period which commenced on 1January 2010. A number of shares were subsequently sold at a price of £2.63075per share in order to settle tax liabilities arising from the release of theshares; these are detailed below.
PDMR Shares Shares Shares released sold retained Judith Felton 89,642 46,708 42,934 Douglas 112,884 58,818 54,066McIldowie Directors' InterestsAs a result of these transactions, the interests of the PDMRs listed above andof their connected persons in GKN shares are as follows:
Director & PDMR No.of shares % of issued share capital Marcus Bryson 268,215 0.016 Andrew Reynolds Smith 343,639 0.021 William Seeger 386,843 0.024 Nigel Stein 964,241 0.059 Judith Felton 232,056 0.014 Douglas McIldowie 106,903 0.007This announcement is made in accordance with DTR 3.1.4R (1).
28 February 2013
Related Shares:
GKN PLC