28th Mar 2011 14:48
28 March 2011
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Cobham plc announces that on 25 March 2011 the executive directors sold a number of shares listed below to satisfy certain tax and national insurance liabilities:
Mr A Stevens 49,507 ordinary 2.5 pence shares
Mr W Tucker 82,829 ordinary 2.5 pence shares
The shares were sold at 228.677 pence per share.
Mr Stevens retained the balance of the shares transferred under his Bonus Co-Investment Plan entitlement of 46,362 ordinary 2.5 pence shares.
Mr Tucker sold the balance of the shares transferred to him of 79,580 ordinary 2.5 pence shares at 228.677 pence per share.
Mr Tucker also sold 48,723 ordinary 2.5 pence shares in the company at 229.197 pence per share, these shares represented his matured investment in the Plan.
The Plan works by giving participants (the executive directors and other senior executives) the opportunity to earn a matching award of shares against their gross bonus invested on an up to 2:1 basis. Purchased shares under the Plan are released when the matching awards vest. Matching awards vest after three years subject to the achievement of economic profit targets.
All shares sold were registered in the name of Lynchwood Nominees Limited.
Name of contact and telephone number for queries:
Julian Wais
Director of Investor Relations
01202 852998
Related Shares:
Cobham