21st Sep 2010 17:30
HomeServe plc
Vesting of awards under the Deferred Bonus Plan ('DBP')
This notification is made in accordance with DTR 3.1.4R(1)(a).
In 2007, a number of Directors and other Persons Discharging Managerial Responsibility (together "PDMRs") received part of their annual bonus in the form of a Deferred Bonus Share Award over ordinary shares of 2.5 pence in the Company ("Shares"). Those Deferred Bonus Share Awards vested on 21 September 2010, following the end of the three year vesting period, triggering a tax and NIC liability.
On 21 September 2010, the Matching Share Awards which were granted to certain PDMRs at the same time as their Deferred Bonus Share Awards, vested following the satisfaction of stretching comparative TSR related performance criteria. Vesting of these awards has triggered an income tax and social security liability. No consideration was paid for the Shares acquired on the vesting of these Matching Share Awards.
Further details of the individual transactions under the DBP are set out in the table below:
|
Name |
Status |
No of Shares acquired on the vesting of Deferred Bonus Share Award ("DBSA") |
No of Shares acquired on vesting of Matching Share Award ("MSA") |
No of Shares sold to meet tax and social security liability arising on vesting of DBSA and MSA² |
|
Richard Harpin |
Director |
84,925 |
210,610 |
151,101 |
|
Rachael Hughes |
PDMR |
¹5,945 |
24,564 |
³Nil |
|
Jonathan King |
Director |
²7,105 |
17,625 |
8,900 |
¹ For tax reasons, Miss Hughes purchased Shares from her net bonus in 2007 and those Shares were subject to a three-year holding period which has now ended. Miss Hughes was not granted a Deferred Bonus Share Award.
² Mr King did not receive a bonus in 2007 but purchased a limited number of Shares from his net income. Those Shares were subject to a three-year holding period which has now ended. Mr King was not granted a Deferred Bonus Share Award.
³ Miss Hughes will meet the tax and social security liability without selling shares.
Shares were sold on the London Stock Exchange on 21 September 2010 at an average price of £4.7193.
21 September 2010
Related Shares:
HSV.L