29th Jul 2016 15:00
29 July 2016
intu properties plc ("intu")
Executive Director/PDMR Vesting of Performance Share Plan ("PSP") Awards
The first awards under the PSP were made in 2013. Each Executive Director/PDMR received three separate awards - the first with a three year performance period from 1 January 2013 to 31 December 2015; the second with a four year performance period from 1 January 2013 to 31 December 2016 and the third with a five year performance period from 1 January 2013 to 31 December 2017.
The awards were made in accordance with intu's Remuneration Policy and were subject to strict performance conditions.
The first awards under intu's PSP vested in part on 21 May 2016. The overall vesting percentage for these three year awards was 37.63%. The balance of each of these three year awards has lapsed. Participants have a six month period from vesting in which to exercise the underlying zero-cost options.
On 29 July 2016, Executive Directors and PDMRs exercised their zero-cost options. All have sold sufficient of the shares to meet the income tax and national insurance liabilities which arose on exercise of the options and all are retaining the balance of the shares arising from exercise.
The resultant changes to Executive Directors' and PDMRs' interests in the Company's shares are set out in the following table:
Executive Directors | Zero-Cost Option (number of Shares)
| Shares sold to meet tax and NI liability at £2.969 per share | Shares Retained & % of Issued Share Capital | Total Holding & % of Issued Share Capital | ||
David Fischel | 79,095 | 37,175 | 41,920 | 0.003% | 1,035,454 | 0.077% |
Matthew Roberts | 60,842 | 28,596 | 32,246 | 0.002% | 259,487 | 0.019% |
PDMRs
| Shares Vested | Shares sold at £2.969 per share | Shares Retained & % of Issued Share Capital | Total Holding & % of Issued Share Capital | ||
Hugh Ford | 25,102 | 11,798 | 13,304 | 0.001% | 85,676 | 0.006% |
Susan Marsden | 8,530 | 4,009 | 4,521 | - | 24,060 | 0.002% |
Trevor Pereira | 17,399 | 8,178 | 9,221 | 0.001% | 52,158 | 0.004% |
Also on 29 July 2016, Hugh Ford transferred 7,982 shares into his wife's name, Mrs Susan Ford. She will also be the registered owner of the 13,304 shares to be retained by Hugh Ford arising from the exercise of the zero-cost option, as set out above.
Susan Marsden
Company Secretary
29 July 2016
Related Shares:
INTU.L