19th May 2011 16:30
RNS NOTIFICATION: 19 May 2011
SHARE AWARDS TO EXECUTIVE DIRECTORS AND PDMRs
These notifications are made in accordance with DR 3.1.4.R.
PERFORMANCE SHARE PLAN
The following contingent awards have been made under the Performance Share Plan ("PSP") on 18 May 2011 using the price of £6.11 from 17 May 2011.
Name | Number of ordinary shares awarded under PSP on 18 May 2011 |
Andrew Sukawaty* |
100,613 |
Rick Medlock* |
54,147 |
Rupert Pearce |
42,987 |
Perry Melton |
42,062 |
James Parm |
44,756 |
Debbie Jones |
24,212 |
Alison Horrocks |
22,771 |
*Denotes executive director. All other executives are those who are considered Persons Discharging Managerial Responsibility.
The shares will generally vest on the third anniversary of the date of grant, in May 2014 to the extent that performance conditions have been satisfied. Awards were made at nil cost to participants. The performance conditions will be based on the Company's TSR and EBITDA growth over the three-year period.
BONUS SHARE PLAN ("BSP")
On the same date, the following executive directors and PDMRs were each given a monetary award under the Company's Bonus Share Plan: Andrew Sukawaty, Rick Medlock, Alison Horrocks, Debbie Jones, Perry Melton, Rupert Pearce and James Parm.
Subject to the Company meeting its corporate targets for the 2011 financial year, the monetary award will be converted to an award of shares following the announcement of the Company's 2011 financial results, expected in March 2012. If the targets are achieved, an announcement as to the number of shares to be awarded will be made at that date. If an award of shares is made, the shares will vest in three tranches in March 2013, March 2014 and March 2015.
Related Shares:
Inmarsat