30th Apr 2021 10:41
Date: 30 April 2021
Meggitt PLC
(the "Company")
Director/PDMR Shareholding
Grant of awards under the Meggitt 2014 Long Term Incentive Plan ("LTIP")
On 29 April 2021, the following awards were granted over ordinary shares of 5p each in Meggitt PLC under the LTIP. The awards were based on an award price of £4.7154.
The Performance Share Award will be released as soon as practicable after 29 April 2024 and the vested shares will be subject to a further two year holding period. The Restricted Share Award will vest on a phased basis over a three-year period, i.e. a third annually, and the vested shares will be subject to a holding period that ends five years after grant.
Name | Restricted Share Award | Performance Share Award |
Tony Wood Chief Executive Director/PDMR | Award over shares 87,876 | Award over shares 175,753 |
Louisa Burdett Chief Financial Officer Director/PDMR | Award over shares 55,668 | Award over shares 111,337 |
LTIP - Performance Share Awards - Performance Measures and Targets
As at the date of publishing our 2020 Directors' Remuneration Report, the targets for our LTIP performance share awards had not been finalised. The Remuneration Committee has now approved the following performance measures and targets (ranges mentioned are threshold - for which 25% of that element shall vest - to stretch):
· 3-year cumulative Earnings per share (weighted 33.3% of LTIP performance share award), range from 57.4p to 77.7p
· 3-year average ROCE (weighted 33.3% of LTIP performance share award), range from 5.3% to 8.3%
· Programme excellence (weighted 11.1% of LTIP performance share award), measured by programme performance on NPI and AR&T programme health, and progress with sustainable technology programmes, range from 2 to 4
· Meggitt's High Performance System (weighted 11.1% of LTIP performance share award), measured by quality and delivery outcomes averaged based on our company performance
· Inventory Turns (weighted 11.1% of LTIP performance share award), range from 2.3 to 3.3
Full details of the targets will be published in the 2021 Directors' Remuneration Report.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Tony Wood
| ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Chief Executive, Director/PDMR | ||||
b)
| Initial notification / Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Meggitt PLC | ||||
b)
| LEI
| YMFO3TKB4UAWQTDZJJ31
| ||||
4
| Details of the transaction(s): | |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of 5p each
GB0005758098 | ||||
b)
| Nature of the transaction
| Grant of Performance Share Award under the Meggitt 2014 Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
175,753 £4.7154 | ||||
e)
| Date of the transaction | 29 April 2021 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Tony Wood
| ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Chief Executive, Director/PDMR | ||||
b)
| Initial notification / Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Meggitt PLC | ||||
b)
| LEI
| YMFO3TKB4UAWQTDZJJ31
| ||||
4
| Details of the transaction(s): | |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of 5p each
GB0005758098 | ||||
b)
| Nature of the transaction
| Grant of Restricted Share Award under the Meggitt 2014 Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
87,876 £4.7154 | ||||
e)
| Date of the transaction | 29 April 2021 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Louisa Burdett
| ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Chief Financial Officer, Director/PDMR | ||||
b)
| Initial notification / Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Meggitt PLC | ||||
b)
| LEI
| YMFO3TKB4UAWQTDZJJ31
| ||||
4
| Details of the transaction(s): | |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of 5p each
GB0005758098 | ||||
b)
| Nature of the transaction
| Grant of Performance Share Award under the Meggitt 2014 Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
111,337 £4.7154 | ||||
e)
| Date of the transaction | 29 April 2021 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Louisa Burdett
| ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Chief Financial Officer, Director/PDMR | ||||
b)
| Initial notification / Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Meggitt PLC | ||||
b)
| LEI
| YMFO3TKB4UAWQTDZJJ31
| ||||
4
| Details of the transaction(s): | |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of 5p each
GB0005758098 | ||||
b)
| Nature of the transaction
| Grant of Restricted Share Award under the Meggitt 2014 Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
55,668 £4.7154 | ||||
e)
| Date of the transaction | 29 April 2021 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
Enquiries:
Meggitt PLC +44(0) 2476 826 900
Marina Thomas, Group Company Secretary ([email protected])
Katie Lewis, Senior Assistant Company Secretary ([email protected])
Simon Grant, Assistant Company Secretary ([email protected])
Related Shares:
MGGT.L