20th Mar 2009 17:22
RNS NOTIFICATION: 20 March 2009
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 20 March 2009 using the middle market closing price of £4.5675 on 19 March 2009.
|
Executive Director |
Number of ordinary shares awarded under PSP on 19 March 2009 |
|
Andrew Sukawaty |
100,667 |
|
Rick Medlock |
70,460 |
|
Rupert Pearce |
54,735 |
|
Perry Melton |
54,735 |
|
Debbie Jones |
30,048 |
|
Alison Horrocks |
28,714 |
The shares will generally vest on the third anniversary of the date of grant, in March 2012 to the extent that performance conditions have been satisfied. Awards were made at nil cost to participants. The performance condition 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 executive directors and PDMRs listed below were each given a monetary award under the Company's Bonus Share Plan.
Subject to the Company meeting its corporate targets for the 2009 financial year, the monetary award will be converted to an award of shares following the announcement of the Company's 2009 financial results, expected in March 2010. 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 2011, March 2012 and March 2013.
The executive directors and PDMRs receiving the BSP award are Andrew Sukawaty, Rick Medlock, Alison Horrocks, Debbie Jones, Perry Melton and Rupert Pearce.
Related Shares:
Inmarsat