26th Feb 2016 11:49
GKN PLC - Director/PDMR ShareholdingGKN PLC - Director/PDMR Shareholding
PR Newswire
London, February 26
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND CONNECTED PERSONS
GKN plc (the ‘Company’) announces the release of ordinary shares of 10p each in the Company (the ‘Shares’) to Directors and other Persons Discharging Managerial Responsibilities (together the ‘PDMRs’) under the GKN Deferred Bonus Plan (‘DBP’) as set out below.
DBP
On 25 February 2016, the Company was notified by the Trustee of its Employee Share Ownership Trust of the transfer of Shares to the PDMRs listed below. The Shares released represent a percentage of the amount earned under the Company’s 2013 annual bonus arrangements (awarded in 2014) which was compulsorily deferred and invested into Shares. Shares were released after a two year deferral period; during this period, dividends earned on the Shares were accrued and an equivalent cash amount paid on release of the Shares.
| Directors and PDMRs | Number of Shares released | Number of Shares sold | Number of Shares retained |
| Nigel Stein | 32,569 | - | 32,569 |
| Kevin Cummings | 10,081 | 4,089 | 5,992 |
| Chris Fox | 8,892 | 4,188 | 4,704 |
| Peter Oberparleiter | 25,578 | 12,819 | 12,759 |
| Jos Sclater | 8,092 | 3,811 | 4,281 |
| Phil Swash | 8,057 | 3,795 | 4,262 |
Nigel Stein self-financed his tax liabilities. Shares to satisfy the tax liabilities for the remaining PDMRs noted above were sold at £2.600547 per Share with the exception of Peter Oberparleiter whose Shares were sold at £2.694657 per Share.
Directors’ Interests
Following these transactions, the interests of the PDMRs listed above and of their connected persons in Shares are as follows:
| Directors and PDMRs | No. of shares | % of issued share capital |
| Nigel Stein | 2,004,024 | 0.1169% |
| Kevin Cummings | 158,986 | 0.0093% |
| Chris Fox | 18,474 | 0.0011% |
| Peter Oberparleiter | 178,458 | 0.0104% |
| Jos Sclater | 23,064 | 0.0013% |
| Phil Swash | 92,589* | 0.0054% |
\* The figure for Phil Swash includes a correction to the announcement released on 26 August 2015. The correct number of Shares held at that date was 88,327.
This announcement is made in accordance with Disclosure and Transparency Rule 3.1.4R (1).
26 February 2016
Related Shares:
GKN PLC