12th Aug 2010 11:48
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIESAND CONNECTED PERSONS
In accordance with DTR 3.1.4R (1), GKN plc (the "Company") announces that on 11 August 2010 the Executive Directors and other PDMRs received awards as set out below under the GKN Long Term Incentive Plan 2004 ("LTIP") and the GKN Profit Growth Incentive Plan ("PGIP") respectively.
LTIP Awards:Director& PDMR Number of shares Total number of share awards held under LTIP Sir Kevin Smith 678,383 1,078,383 Marcus Bryson 381,125 581,772 Andrew Reynolds Smith 381,125 595,149 William Seeger 372,050 586,074 Nigel Stein 453,720 714,561
The shares, if any, that will be capable of release will depend on the extent to which EPS growth targets are satisfied by the Company over the three year performance period which commenced on 1 January 2010. Release is also conditional upon the satisfaction by the Executive Director of a personal shareholding requirement. Any shares that are capable of release will be subject to a one year deferment period with the earliest possible release date being 11 August 2014. No consideration was paid for the grant of the awards and no payment is due on release of the awards.
PGIP Awards:PDMR Number of shares Total number of share awards held under PGIP Judith Felton 44,821 44,821 Douglas McIldowie 56,442 56,442 Walter Rohregger 76,791 76,791
The shares, if any, that will be capable of release will depend on the extent to which profit growth targets are satisfied by the Company over the three year performance period which commenced on 1 January 2010. The above number of shares will be released following the performance period if the minimum targeted profit growth is achieved. A maximum of twice the amount of shares listed above will be released on achievement of the maximum profit target. No shares will be released and the awards will lapse if the minimum profit target is not achieved. Release is also conditional upon the satisfaction by the PDMR of a personal shareholding requirement. No consideration was paid for the grant of the awards and no payment is due on release of the awards.
12 August 2010
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GKN PLC