2nd Oct 2008 15:45
ITV plc
2 October 2008
Share Awards made to Ian Griffiths
On 2 October 2008 ITV granted the following awards to Ian Griffiths, an executive director of ITV plc, in accordance with the terms of his contract of employment.
ITV Turnaround Plan
An award of 4,023,669 nil-cost options over ITV plc shares.
The number of nil cost options awarded was calculated using 42.25p the closing price of ITV plc shares on 1 October 2008.
The award will vest subject to the achievement of performance conditions as follows:
25% of the total award may vest on 31 December 2009 subject to the achievement of Total Shareholder Return "TSR" performance. Any portion of this 25% that does not vest will lapse.
2. 75% of the total award may vest on 31 December 2011:
25% subject to TSR performance
50% subject to four strategic targets split equally between Share of Commercial Impacts, Revenue Growth, EPS and Share Price.
Any portion of this 75% that does not vest will lapse.
Full details of the performance conditions are set out in the Remuneration Report contained in our Report and Accounts 2007 which are available on our website at www.itvplc.com.
ITV Deferred Share Award Plan
An award of 177,515 nil-cost options over ITV plc shares.
The number of nil cost options awarded was calculated using 42.25p the closing price of ITV plc shares on 1 October 2008.
The award will vest in full on 31 December 2009 subject to Ian Griffiths' continued employment within ITV.
For further enquiries please contact:
ITV plc
Tel: 020 7156 6000
Press enquiries
Ruth Settle - Director of Corporate Communications
Louise Evans - Head of Press - Financial and Commercial
Investor enquiries
Christy Swords - Director of Investor Relations
Pippa Strong - Head of Investor Relations
Tulchan Communications
Tel: 0207 353 4200
Andrew Grant
Susannah Voyle
Lizzie Morgan
Website: www.itv.com; investor information: www.itvplc.com
Editor's Notes
Ian Griffiths' contract of employment is subject to 12 months notice on either side. His basic salary is £425,000 per annum. Ian will be eligible to participate in the ITV annual bonus scheme on the same basis as other senior executives. He will also receive a contribution to his private pension scheme, life assurance, permanent health and medical insurance and a car allowance.
Related Shares:
ITV