29th Jun 2010 17:36
Vodafone Group Plc ("the Company")
In accordance with Disclosure and Transparency Rule 3.1.4R(1), the Company gives notice of the following changes in share interests of directors and persons discharging managerial responsibilities ("PDMRs") of the Company:
|
|
Number of ordinary shares of US$0.113/7 |
|
|
|
in the capital of Vodafone Group Plc |
|
|
|
A |
B |
|
|
Award of performance shares (1))(2) |
Purchased shares (3) |
|
Vittorio Colao* |
7,078,144 |
541,057 |
|
Michel Combes* |
3,514,341 |
275,960 |
|
Andy Halford* |
4,113,613 |
0 |
|
Steve Pusey* |
2,264,115 |
81,690 |
|
Wendy Becker |
2,006,960 |
286,861 |
|
Warren Finegold |
2,267,654 |
231,514 |
|
Matthew Kirk |
1,077,984 |
27,550 |
|
Morten Lundal |
1,714,823 |
193,195 |
|
Rosemary Martin |
1,149,779 |
103,311 |
|
Nick Read |
1,581,136 |
82,881 |
|
Ronald Schellekens |
1,484,941 |
137,748 |
* Denotes Director of the Company
(1) Conditional awards of shares were granted on 28 June 2010 by the Company. The awards have been granted in accordance with the Vodafone Global Incentive Plan (incorporating co-investment). The vesting of these awards is conditional on continued employment with the Vodafone Group, retention of co-investment and on the satisfaction of a performance condition approved by the Remuneration Committee. The performance measure is based on free cash flow performance with a multiplier that is based on comparative total shareholder return ("TSR") performance. The free cash flow performance is based on a three year cumulative adjusted cash flow figure. The target free cash flow level is set by reference to the Company's three year plan and market expectations; 25% of the award will vest for target performance, rising to 50% vesting for maximum performance. The multiplier is based on the TSR of the Company over the three year performance period 1 April 2010 to 31 March 2013 relative to a peer group of five companies within the European Telecoms sector as well as one emerging market composite. There will be no increase in vesting until TSR performance exceeds median, at which point the multiplier will increase up to two on a linear basis for upper quintile performance. The maximum vesting is 100%, for maximum free cash flow performance (50%) and maximum TSR performance (multiplier of 2). For further details of the Plan, please see pages 59 and 60 of the Company's 2010 Annual Report, available at www.vodafone.com/investor.
(2) The directors and other PDMRs are subject to the Company's share ownership guidelines, which provide that they will acquire and maintain minimum levels of shareholding. The levels are four times salary for the Chief Executive, three times salary for other Board directors and two times salary for the other PDMRs, who are members of the Executive Committee.
(3) The Company was advised on 29 June 2010 by UBS Trustees (Jersey) Limited that on 28 June 2010 the above named directors and PDMRs acquired an interest in the number of shares of US$0.11 3/7 each in the Company shown in column B above at the price of 144.18 pence per share.
As a result of the above, the interests in shares (excluding share options and unvested incentive shares) of the following Directors are as follows:
Vittorio Colao 2,116,624
Michel Combes 668,533
Andy Halford 2,186,891
Steve Pusey 484,289
Related Shares:
Vodafone