30th Jul 2015 16:04
On 29 July 2015, the Company was notified that awards had been granted to Jeremy Darroch and Andrew Griffith, Group Chief Executive Officer and Group Chief Financial Officer respectively (together, the 'Executive Directors'), under the Company's Long Term Incentive Plan, over the following number of ordinary shares of 50 pence each in the capital of the Company ('Ordinary Shares'), at nil-cost per share:
Jeremy Darroch 600,000
Andrew Griffith 350,000
The awards were granted on 29 July 2015 and will vest on 25 July 2017, subject to the achievement of performance targets in respect of average earnings per share growth, operating cash flow, revenue growth and total shareholder return.
Furthermore, the Company was notified on 29 July 2015, that the Executive Directors had exercised LTIP awards, which vested on 28 July 2015, following the achievement of performance targets in respect of average earnings per share growth, operating cash flow and revenue growth for the year ended 30 June 2015 and Total Shareholder Return for the period to 26 July 2015, 93% of the relevant awards vested. Jeremy Darroch disposed of 1,116,000 Ordinary Shares and Andrew Griffith disposed of 595,200 Ordinary Shares at 1,150 pence per share.
These transactions took place in London.
Both Executive Directors have notified the Company of their intention to purchase the maximum number of Ordinary Shares permitted under the Company's Co-Investment Plan - an investment equal to 50% of their annual bonus for 2014/15.
The beneficial interests of the Executive Directors in the Company following this notification are:
Jeremy Darroch 578,269
Andrew Griffith 146,667
Contacts:
Investor Relations:
Ed Steel - Head of Investor Relations
020 7032 2093
Corporate Communications:
Robin Tozer - Corporate Communications Manager
020 7032 0620
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