15th May 2017 15:05
GKN PLC - Director/PDMR ShareholdingGKN PLC - Director/PDMR Shareholding
PR Newswire
London, May 15
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’).
GKN Sustainable Earnings Plan (‘SEP’)
On 11 May 2017, the following SEP awards were granted:
| PDMRs | Number of Shares awarded |
| Nigel Stein | 464,135 |
| Kevin Cummings | 286,919 |
| Phil Swash | 286,919 |
| Adam Walker | 325,175 |
The SEP awards are subject to EPS performance targets relative to actual end market growth over a three year 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.
No consideration was paid for the grant of the SEP awards and no payment is due on release of any Shares.
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 | Nigel Stein | ||||
| 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 | 464,135 0 | ||||
| Date and time of the transaction | 2017/05/11 | ||||
| Place of the transaction | Outside a trading venue | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Kevin Cummings | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive GKN Aerospace | ||||
| 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 | 286,919 0 | ||||
| Date and time of the transaction | 2017/05/11 | ||||
| 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 Driveline | ||||
| 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 | 286,919 0 | ||||
| Date and time of the transaction | 2017/05/11 | ||||
| Place of the transaction | Outside a trading venue | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Adam Walker | ||||
| 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 | 325,175 0 | ||||
| Date and time of the transaction | 2017/05/11 | ||||
| Place of the transaction | Outside a trading venue | ||||
15 May 2017
LEI: 213800QNZ22GS95OSW84
Classification of Information: Additional regulated information required to be disclosed under the laws of a member state
Related Shares:
GKN PLC