19th Mar 2018 15:59
GKN PLC - Director/PDMR ShareholdingGKN PLC - Director/PDMR Shareholding
PR Newswire
London, March 19
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND CONNECTED PERSONS
GKN plc (the ‘Company’) announces that it has been notified of the following transaction in the Company’s ordinary shares of 10p each (‘Shares’) undertaken by persons discharging managerial responsibilities (‘PDMRs’).
On 16 March 2018, awards were granted under the GKN Sustainable Earnings Plan (‘SEP’) and GKN Deferred Bonus Plan (‘DBP’) to the PDMRs set out below:
SEP awards
| PDMRs | Number of SEP Shares awarded |
| Anne Stevens | 390,634 |
| Jos Sclater | 231,144 |
| Phil Swash | 261,193 |
SEP awards are subject to i) EPS performance targets relative to actual end market growth over a three year performance period and ii) the Board’s assessment of successful shareholder value creation over the performance period. Any Shares that vest at the end of the performance period will be subject to an additional two-year holding period prior to release. The vesting of SEP awards is also subject to the Remuneration Committee’s assessment of both the quality of earnings and EPS performance against shareholder expectations. Malus and clawback provisions will apply.
DBP awards
| PDMRs | Number of DBP Shares awarded |
| Jos Sclater | 2,168 |
| Phil Swash | 13,228 |
DBP awards represent 33% of the Company’s annual bonus arrangements for 2017 that are compulsorily deferred and invested into Shares. Subject to the rules of the DBP, the Shares will normally be released after the announcement of the Company’s annual results for the financial year following the year in which the award was granted. Malus provisions will apply to the award.
No consideration was paid for the grant of the SEP and DBP award and no payments are due on release of any Share under either of the awards.
Further details of the transaction can be found in the Notification of Dealing Form for the PDMRs set out below.
This notification is made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Anne Stevens | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Award of shares under the GKN Sustainable Earnings Plan | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 390,634 0 | ||||
| Date and time of the transaction | 2018/03/16 | ||||
| Place of the transaction | Outside a trading venue | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Jos Sclater | ||||
| Reason for the notification | |||||
| Position/status | Group Finance Director | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Award of shares under the GKN Sustainable Earnings Plan | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 231,144 0 | ||||
| Date and time of the transaction | 2018/03/16 | ||||
| Place of the transaction | Outside a trading venue | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Phil Swash | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive GKN Automotive | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Award of shares under the GKN Sustainable Earnings Plan | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 261,193 0 | ||||
| Date and time of the transaction | 2018/03/16 | ||||
| Place of the transaction | Outside a trading venue | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Jos Sclater | ||||
| Reason for the notification | |||||
| Position/status | Group Finance Director | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Award of shares under the GKN Deferred Bonus Plan | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 2,168 0 | ||||
| Date and time of the transaction | 2018/03/16 | ||||
| Place of the transaction | Outside a trading venue | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Phil Swash | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive GKN Automotive | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Award of shares under the GKN Deferred Bonus Plan | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 13,228 0 | ||||
| Date and time of the transaction | 2018/03/16 | ||||
| Place of the transaction | Outside a trading venue | ||||
19 March 2018
LEI: 213800QNZ22GS95OSW84
Classification of Information: Additional regulated information required to be disclosed under the laws of a member state
Related Shares:
GKN PLC