2nd Mar 2016 15:33
GKN PLC - Director/PDMR ShareholdingGKN PLC - Director/PDMR Shareholding
PR Newswire
London, March 2
Notification of transactions of Directors/Persons Discharging Managerial Responsibilities (“PDMRs”)
In accordance with DTR 3.1.4R (1), GKN plc (the “Company”) announces that on 1 March 2016, awards were granted over ordinary shares of 10p in the issued share capital of the Company (“Shares”) under the GKN Sustainable Earnings Plan (“SEP”) and the GKN Deferred Bonus Plan (“DBP”) to the PDMRs set out below.
SEP
The following SEP awards were granted:
| Directors & PDMRs | Number of Shares comprised in core award | Number of Shares comprised in sustainability award | Total number of Shares awarded |
| Nigel Stein | 488,201 | 97,640 | 585,841 |
| Kevin Cummings | 303,230 | 60,646 | 363,876 |
| Phil Swash | 303,230 | 60,646 | 363,876 |
| Adam Walker | 342,226 | 68,445 | 410,671 |
| PDMRs | |||
| Monique Carter | 95,931 | 19,186 | 115,117 |
| Chris Fox | 70,875 | 14,175 | 85,050 |
| Peter Oberparleiter | 100,188 | 20,037 | 120,225 |
| Jos Sclater | 94,332 | 18,866 | 113,198 |
Each SEP award consists of a core award and a sustainability award and is subject to EPS performance targets relative to actual end market growth over an initial three year performance period. 50% of any Shares that vest under the core award will be released after the end of this period and the remaining 50% will be released after a further two year deferral period. Sustainability awards will be released after a five year period subject to the highest level of EPS attained in any year of the initial three year period being sustained during this two year deferral period. The vesting of the core and sustainability awards is also subject to the Remuneration Committee’s assessment of both the quality of earnings and EPS performance against shareholder expectations. Malus and clawback provisions will apply.
DBP
The following DBP awards were granted:
| Number of Shares awarded | |
| Directors & PDMRs | |
| Nigel Stein | 6,515 |
| Adam Walker | 4,248 |
| PDMR | |
| Peter Oberparleiter | 16,166 |
DBP awards represent a percentage of the amount earned under the Company’s annual bonus arrangements for 2015 compulsorily deferred and invested into Shares. Subject to the rules of the DBP, the Shares will normally be released after the announcement of the Company’s annual results for the financial year following the year in which the award was granted. Malus provisions will apply.
No consideration was paid for the grant of the SEP and DBP awards and no payment is due on release of any Shares.
2 March 2016
Related Shares:
GKN PLC