10th Jun 2016 10:36
Aldermore Group PLC (the "Company")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
The Company announces that on 9 June 2016, Dana Cuffe, Chief Operating Officer designate, was granted the following award, in the form of a nil-cost option, to acquire ordinary shares of 10 pence each in the Company. The award was made for nil-consideration.
Plan | Shares |
Performance Share Plan ("PSP") | 131,661 |
The award is made conditional on Mr Cuff receiving appropriate regulatory approvals to take up his post of Chief Operating Officer. If such approvals are not received and Mr Cuff is unable to take up this position, the award shall lapse and cease to be exercisable.
The award is also conditional on the achievement of performance targets (50% based on relative Total Shareholder Return against a comparator group and 50% based on EPS). The performance targets will be measured over a period ending on 31 December 2018. Subject to the performance conditions, the award will vest on 9 June 2019 and will be subject to a further two-year holding period which will expire on 9 June 2021. In addition, PSP awards may be subject to malus and clawback in exceptional circumstances in line with the PSP rules. The amount shown above represents the maximum possible opportunity subject to any additional shares awarded at vesting in lieu of dividends on shares that vest.
The price used to calculate the number of shares awarded is £2.126667, being the average of the mid-market closing price of an Aldermore ordinary share on the three consecutive business days immediately preceding 9 June 2016.
This announcement, in relation to a transaction in London, is made in accordance with the requirements of DTR 3.1.2 R and 3.1.4 R(1)(a).
Rachel Spencer
Company Secretary
10 June 2016
Related Shares:
ALD.L