1st Apr 2019 14:30
1 April 2019
ITV plc
ITV Share Award Plans
In accordance with DTR 3.1.2 ITV announces details of recent share awards and releases/exercises in respect of its PDMRs as set out below.
Awards released
Awards made in March 2015 under the ITV Long-Term Incentive Plan (LTIP) and in March 2016 under the ITV Deferred Share Award Plan (DSA) were released as follows:
PDMR | Date of release/exercise | Options exercised under the LTIP
| Awards released under the DSA | Shares sold (to cover tax and NICs)
| Share price at date of sale | Total holding after both events | Percentage of issued share capital |
Julian Bellamy | 27/03/19 | 74,318 |
| 34,930 | 126.48p | 153,905 | 0.00382% |
29/03/19 |
| 62,382 | 29,320 | 126.66p | |||
Kevin Lygo | 27/03/19 | 101,586 |
| 47,746 | 126.48p | 1,574,720 | 0.03912% |
29/03/19 |
| 101,983 | 47,933 | 126.66p | |||
David Osborn | 27/03/19 | 27,610 |
| 12,977 | 126.48p | 100,482 | 0.00250% |
29/03/19 |
| 32,313 | 15,188 | 126.66p | |||
Rufus Radcliffe | 27/03/19 | 30,476 |
| 14,324 | 126.48p | 114,701 | 0.00285% |
29/03/19 |
| 12,538 | 5,893 | 126.66p | |||
Mark Smith | 29/03/19 |
| 23,341 | 10,971 | 126.66p | 122,501 | 0.00304% |
Kelly Williams | 27/03/19 | 49,085 |
| 23,070 | 126.48p | 284,284 | 0.00706% |
29/03/19 |
| 74,794 | 35,154 | 126.66p |
Transactions undertaken in London.
No shares were sold other than to cover tax and NICs.
Awards made
On 28 March 2019 the following awards were made under the DSA, the ITV Performance Share Plan (PSP) and the LTIP as follows:
PDMR | DSA awards
| PSP awards | LTIP awards
|
Note a.
| Note b.
| Note c. | |
Julian Ashworth | 42,991 | 202,778 | - |
Julian Bellamy | 166,028 | 687,570 | - |
Chris Kennedy | - | - | 1,175,121 |
Kevin Lygo | 210,213 | 750,075 | - |
Carolyn McCall | 309,860 | - | 1,934,498 |
Paul Moore | 29,855 | 219,000 | - |
Kyla Mullins | - | 445,122 | - |
David Osborn | 67,365 | 375,038 | - |
Rufus Radcliffe | 70,678 | 375,038 | - |
Mark Smith | 44,535 | 249,269 | - |
Kelly Williams | 124,311 | 512,551 | - |
Notes:
a. DSA - These awards were made as restricted shares and the amount awarded was based on the achievement of performance targets under annual bonus arrangements in respect of the period 1 January 2018 to 31 December 2018. Under the rules of the DSA the shares will not release until 28 March 2022.
b. PSP - These awards were made as nil-cost options and are subject to achievement of performance conditions over the three-year period to 31 December 2021. Awards will be exercisable from 28 March 2022 but any portion of the award that does not meet the performance conditions will lapse.
c. LTIP - These awards were made as for the PSP shown above. In addition, any portion of the award that meets the performance conditions will be subject to a further two-year holding period and will become exercisable from 28 March 2024. Any portion of the award that does not meet the performance conditions will lapse.
Buyout Arrangements
On 28 March 2019 the following awards were made to compensate for forfeited awards on leaving previous employers:
PDMR | Restricted Share Awards | Long term incentive awards | ||||
Award | Release date | Award | Release date | Award | Release date | |
Note a. |
| Note b. |
| Note c. |
| |
Julian Ashworth | 19,890 | 22/06/2020 | - | - | - | - |
Chris Kennedy | 166,179 | 28/03/2021 | - | - | - | - |
24,532 | 02/09/2021 | - | - | - | - | |
147,187 | 02/09/2021 | - | - | - | - | |
Carolyn McCall | - | - | 1,520,249 | 28/03/2020 | - | - |
Kyla Mullins | 122,991 | 02/09/2019 | - | - | 612,479 | 28/03/ 2020 |
24,333 | 19/12/2019 | - | - | 473,200 | 28/03/ 2021 | |
50,965 | 19/12/2020 | - | - | - | - | |
50,773 | 28/03/2022 | - | - | - | - | |
a. DSA - The awards were made as restricted shares in line with the rules of the DSA.
b. LTIP - The awards were made as nil cost options in line with the rules of the LTIP and subject to performance conditions over the period from 1 January 2018 to the relevant release date. Any portion of the award that meets the performance conditions will be subject to a holding period and will become exercisable from 19 December 2021. Any portion of the award that does not meet the performance conditions will lapse.
c. PSP - The awards were made as nil cost options in line with the rules of the PSP and subject to performance conditions. Any portion of the award that does not meet the performance conditions will lapse.
Further information can be found in the Remuneration report in the Annual Report and Accounts for the year ended 31 December 2018 available on the Company's website at www.itvplc.com/investors/results-centre
For further enquiries please contact:
For further enquiries please contact:
Investor Relations
Pippa Foulds +44 20 7157 6555 or +44 7778 031097
Charlotte Parker +44 20 7156 6476
Media Relations
Paul Moore +44 7860 794444
Jenny Cummins +44 20 7157 3017
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