1st Sep 2010 18:00
Transactions by Person Discharging Managerial Responsibilities
Disclosure Rules DR 3.1.4R
We hereby inform you that on 27 August 2010, Dr Martin Mackay, a person discharging managerial responsibilities, was granted awards under the terms of the AstraZeneca Investment Plan (AZIP) and the AstraZeneca Performance Share Plan (AZPSP) over the Company's USD0.25 Ordinary Shares as follows:
|
Shares awarded under AZIP |
Shares awarded under AZPSP |
Award price |
|
14,572 |
87,434 |
3227p |
The AZIP was approved by shareholders at the Company's AGM on 29 April 2010. This AZIP award is subject to a four-year performance period and a subsequent four-year holding period.
The performance hurdle that applies to this AZIP award relates to dividends and dividend cover. A summary of the AZIP, including a more detailed explanation of the performance hurdle, can be found in the AstraZeneca Annual Report and Form 20-F Information 2009 and the Notice of AGM 2010, both of which are available on the Company's website www.astrazeneca.com.
The AZPSP was approved by shareholders at the Company's AGM in 2005. Awards made under the AZPSP may not generally vest before the third anniversary of the relevant date of grant, nor unless the specified performance target(s) have been met at the end of the three-year performance period which, for this award, is 1 January 2010 to 31 December 2012.
The performance target that applies to this AZPSP award relates to relative total shareholder return and cash flow. A summary of the AZPSP, including a more detailed explanation of the performance target, can be found in the AstraZeneca Annual Report and Form 20-F Information 2009 and the Notice of AGM 2010, both of which are available on the Company's website www.astrazeneca.com.
These awards are in respect of Dr Mackay's 2010 annual long-term incentive plan on commencement with the Company.
Separately, Dr Mackay was granted an award under the AstraZeneca Restricted Share Plan (AZRSP) as follows:
|
Shares awarded under AZRSP |
Award price |
|
81,217 |
3227p |
The AZRSP was introduced in 2008 and provides for the grant of restricted share awards with variable vesting dates. This AZRSP award will vest in three tranches with the final tranche vesting in 2013 subject to continued employment with the Company.
This award is in respect of a range of stock related compensation built up over his career with his previous employer.
A C N Kemp
Company Secretary
1 September 2010
Related Shares:
Astrazeneca