18th Mar 2010 16:19
United Business Media Limited
Notification of transactions of directors
United Business Media Limited ("UBM") was notified on 18 March 2010 of the following dealings in its ordinary shares ("Shares") by executive directors of UBM.
1. Bonus Investment Plan
Under the terms of the Bonus Investment Plan ("BIP"), David Levin invested £ 338,789 of his bonus entitlement for the year ended 31 December 2009 to acquire an interest in Shares on 17 March 2010. The number of Shares subject to the Automatic deferral is based on a Share price of 463.76 pence, being the price at the start of 2009 (the performance period in respect of which the bonus was earned). The number of Shares subject to the Elected deferral reflects a price of 513.166 pence, being the average market value of Shares for the 3 trading days prior to the award. Mr. Levin will become entitled to receive the Shares after a period of 3 years, subject to his continued employment in the UBM group. He may also become entitled to receive up to the maximum number of matched Shares shown below, 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 matched BIP 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 Automatic Elected deferral No. of matched director deferral BIP Shares David Levin 40,708 29,230 139,876
2. Performance Share Plan
Awards were made to executive directors on 17 March 2010 under the Performance Share Plan ("PSP") as shown below. The number of Shares awarded was calculated by reference to a price of 513.166 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 176,305 Robert Gray 38,973 3. Lapse of options
The following awards held by David Levin under the PSP and BIP failed to meet their performance condition in whole or in part and lapsed on 7 March 2010:
PSP award: 107,573 Shares
BIP Matched Share award: 52,251 Shares
4. Total number of options held
The total number of options over Shares held by the executive directors following the above notification (including the deferred Shares acquired through investment of cash bonuses as described in paragraph 1 above) is as follows:-
David Levin 1,597,429 (of which 518,086 have vested or are subject only to continued employment, and 1,079,343 are required to meet performance conditions).
Robert Gray 163,704 (of which 20,788 are subject only to continued employment, and 142,916 are required to meet performance conditions).
Anne Siddell
Company Secretary
vendorRelated Shares:
UBM