2nd Mar 2017 14:24
GKN PLC - Director/PDMR ShareholdingGKN PLC - Director/PDMR Shareholding
PR Newswire
London, March 2
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND CONNECTED PERSONS
GKN plc (the ‘Company’) announces that it has been notified of the following transactions in the Company’s ordinary10p shares undertaken by persons discharging managerial responsibilities (‘PDMRs’).
GKN Sustainable Earnings Plan (‘SEP’)
Awards under the SEP comprise a core award and a sustainability award. On 28th February 2017 the remaining 50% of the 2012 core award shares that vested in 2015 were released to the PDMRs listed below. At the same time, shares that vested under the associated 2012 sustainability award were also released. The sustainability award vested at 50% of the maximum in respect of the two year performance period that ended on 31 December 2016.
The release of the vested core award and vested sustainability award shares includes additional dividend equivalent shares based on the value of dividends that would have been paid on the shares from the date of grant to the date of release.
Shares were sold at £3.597352 per share by each PDMR to satisfy their tax liabilities.
| PDMRs | Core award shares released in 2017* | Sustainability shares released in 2017* | Total shares released under the 2012 SEP in 2017 | Shares sold | Shares retained |
| Nigel Stein | 194,624 | 38,921 | 233,545 | 110,153 | 123,392 |
| Kevin Cummings | 37,600 | 7,516 | 45,116 | 18,279 | 26,837 |
| Phil Swash | 27,454 | 5,488 | 32,942 | 15,538 | 17,404 |
*Including dividend shares
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Nigel Stein | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Release of the Core 2 and Sustainability Awards under the GKN 2012 SEP | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 233,545 0 | ||||
| Date and time of the transaction | 2017/02/28 | ||||
| Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Nigel Stein | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Sale of shares to cover the tax withholding due on the release of the Core 2 and Sustainability Awards under the GKN 2012 SEP | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 110,153 £3.597352 | ||||
| Date and time of the transaction | 2017/02/28 | ||||
| Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Kevin Cummings | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive GKN Aerospace | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Release of the Core 2 and Sustainability Awards under the GKN 2012 SEP | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 45,116 0 | ||||
| Date and time of the transaction | 2017/02/28 | ||||
| Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Kevin Cummings | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive GKN Aerospace | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Sale of shares to cover the tax withholding due on the release of the Core 2 and Sustainability Awards under the GKN 2012 SEP | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 18,279 £3.597352 | ||||
| Date and time of the transaction | 2017/02/28 | ||||
| Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Phil Swash | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive GKN Driveline | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Release of the Core 2 and Sustainability Awards under the GKN 2012 SEP | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 32,942 0 | ||||
| Date and time of the transaction | 2017/02/28 | ||||
| Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
| Notification of Transactions | |||||
| Details of the Person Discharging Managerial Responsibilities/ Person Closely Associated With | |||||
| Name | Phil Swash | ||||
| Reason for the notification | |||||
| Position/status | Chief Executive GKN Driveline | ||||
| Initial notification /Amendment | Initial | ||||
| Details of the issuer | |||||
| Name | GKN plc | ||||
| LEI | 213800QNZ22GS95OSW84 | ||||
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| Description of the financial instrument, type of instrument Identification code | GKN plc ordinary shares of 10p each GB0030646508 | ||||
| Nature of the transaction | Sale of shares to cover the tax withholding due on the release of the Core 2 and Sustainability Awards under the GKN 2012 SEP | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | 15,538 £3.597352 | ||||
| Date and time of the transaction | 2017/02/28 | ||||
| Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
02 March 2017
LEI: 213800QNZ22GS95OSW84
Classification of Information: Additional regulated information required to be disclosed under the laws of a member state
Related Shares:
GKN PLC