29th Apr 2015 12:49
WHITBREAD PLC
SENIOR EXECUTIVE SHARE AWARDS
LONG TERM INCENTIVE PLAN
Under the terms of the Long Term Incentive Plan of Whitbread PLC, conditional awards at nil cost were made on 28 April 2015 to certain senior executives of the Company in respect of the 3-year performance period 27 February 2015 to 1 March 2018. The maximum number of Whitbread PLC 76 122/153p Ordinary Shares, which each executive could potentially receive in respect of this performance period is as follows:
Number of Shares
Simon Barratt 6,063
Nicholas Cadbury 11,317
Paul Flaum 8,469
Christopher Rogers 12,696
Louise Smalley 7,940
The vesting of the awards will be based on Whitbread's EPS growth above RPI per annum of 4% to 10% on a sliding scale with a one-third multiplier based on ROCE in 2017/18 of 12% to 18%. The ROCE measure also acts as a hurdle.
In accordance with the rules of the Plan, the awards were based on a share price of £51.95, being the average of the mid-market closing price of the Company's shares for the five dealing days preceding 1 March 2015.
The awards will be subject to a two-year holding period post vesting.
WHITBREAD DIRECTORS' INCENTIVE SCHEME
Under the terms of the Whitbread Directors' Incentive Scheme, the following awards of shares were made on 28 April 2015 to senior executives of the Company in respect of the financial year of the Company ended 26 February 2015.
Number of Shares
Simon Barratt 5,309
Nicholas Cadbury 7,946
Paul Flaum 6,638
Andy Harrison 12,674
Christopher Rogers 8,304
Louise Smalley 5,575
Notes
* The number of shares have been calculated by dividing such part of the executive's incentive as the executive is entitled to receive in Ordinary Shares of 76 122/153p each in the capital of Whitbread PLC by the average of the middle -market closing price of the shares during the five dealing days preceding 1 March 2015 (£51.95).
* The awards made under the Directors' Incentive Scheme are not subject to any performance conditions. Under normal circumstances, the awards will vest in full subject to the executive remaining an employee of Whitbread until the third anniversary of the Award Date, as defined in the rules of the scheme.
Daren Lowry
Head of Secretariat & Risk Management
Tel: 01582 889346
29 April 2015
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Whitbread