4th Apr 2016 10:30
4 April 2016
Centrica plc (‘the Company’)
Notification of Transactions of Directors / Persons Discharging Managerial Responsibility
The Company was notified on 1 April 2016 of the following transactions which took place in London and are in respect of Centrica plc ordinary shares of 614/81pence (‘Shares’).
Grant of Awards
Awards over Shares were granted on 1 April 2016 to Executive Directors (‘Executives’) and Persons Discharging Managerial Responsibility (‘PDMRs’). The awards were granted under the terms of the Centrica Long Term Incentive Plan 2015 (‘LTIP’) and the Centrica On Track Incentive Plan 2015 (‘OTIP’) and consisted of conditional awards and forfeitable shares.
Conditional Awards Granted Under the LTIP
| Name | Number of Shares subject to award | ||
| Jeff Bell | 726,296 | ||
| Iain Conn | 1,221,498 | ||
| Mark Hanafin | 825,336 | ||
| Mark Hodges | 825,336 | ||
The above awards are subject to the satisfaction of performance conditions over a 3 year period commencing with 2016, and continued employment, in accordance with the approved Remuneration Policy.
Forfeitable Shares Acquired Under the LTIP
| Name | Number of Shares acquired | ||
| Jeff Bell | 122,384 | ||
| Iain Conn | 256,944 | ||
| Mark Hanafin | 159,795 | ||
| Mark Hodges | 124,619 | ||
The above Shares were acquired at 226.2p with deferred Annual Incentive Plan (‘AIP’) funds and have mandatory holding periods of 3 and 4 years.
Conditional Awards granted under the OTIP
| Name | Number of Shares subject to award | ||
| Grant Dawson | 204,331 | ||
| Badar Khan | 355,803 | ||
| Jill Shedden | 291,090 | ||
Release of Shares
On 1 April 2016, Shares were released to Executives and PDMRs from the Centrica Long Term Incentive Scheme 2014 (‘LTIS 2014’) and the Centrica Share Award Scheme 2006 (‘SAS’).
| Number of | Number of | Number of Shares | Sale Price per | ||||||
| Shares | Shares | Sold to Cover | Share | ||||||
| Released From | Released From | Statutory Withholding | |||||||
| LTIS 2014 | SAS | Liabilities | |||||||
| Iain Conn | 282,634 | - | 133,305 | 223.5p | |||||
| Jeff Bell | - | 27,490 | 12,599 | 223.5p | |||||
| Badar Khan | - | 31,074 | 8,248 | 223.5p | |||||
This announcement is made following notification under Disclosure Rule 3.1.2.
Nicola Carroll Head of Secretariat, Centrica plc
Enquiries: Centrica Investor Relations: +44 (0)1753 494900 Centrica Media Relations: +44 (0)1753 494105
View source version on businesswire.com: http://www.businesswire.com/news/home/20160404005569/en/
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