9th Feb 2012 14:00
ARM Holdings plc
9 February 2012
ARM Holdings plc (the "Company") announces that, following the significant out- performance of ARM against an international peer group over the last 3 years, the relevant performance conditions under the Long Term Incentive Plan ("LTIP") were satisfied in full, giving rise to the vesting of 200% (plus dividend shares) of the conditional awards made in 2009. Details of the number of shares vesting and of shares sold automatically in order to satisfy tax liabilities are listed below.
In addition shares representing 50% of annual bonus earned in respect of the financial year ended 31 December 2008 and awarded in February 2009 have been released under the Deferred Annual Bonus Plan ("DAB"). Under the DAB, 50% of bonus earned is paid in cash and 50% is compulsorily deferred into shares which vest 3 years after the award date. The relevant performance conditions were fully satisfied and matching shares have been triggered in the ratio of 2:1 in respect of these shares.
The LTIP vesting and DAB release took effect on 8 February 2012
Name | Total number of shares vested under the 2009 LTIP | Total number of shares vested under the 2008 DAB | Number of shares sold* to satisfy tax liabilities under the LTIP | Number of shares sold* to satisfy tax liabilities under the DAB | Total net shares received | Total resultant share- holding |
Warren East | 859,428
| 434,875
| 446,903
| 226,135
| 621,265
| 1,836,956 |
Tim Score | 745,528
| 386,516
| 387,675
| 200,989
| 543,380
| 849,153 |
Tudor Brown | 442,658
| 261,314 | 230,183
| 135,884
| 337,905
| 895,814 |
Mike Inglis | 517,729
| 268,414
| 269,220
| 139,576
| 377,347
| 491,651 |
Mike Muller | 507,373
| 256,731
| 263,834
| 133,501
| 366,769
| 1,538,894 |
Simon Segars | 517,729
| 268,414
| 269,220
| 139,576
| 377,347
| 655,160 |
Bill Parsons | 372,764
| 193,256
| 193,838
| 100,494
| 271,688
| 276,998 |
Graham Budd | 383,119
| 193,860
| 199,222
| 100,808
| 276,949
| 540,577 |
Patricia Alsop | 352,055
| 178,141
| 183,069 | 92,634
| 254,493
| 358,253 |
Philip David | 341,701
| 172,900
| 177,685
| 89,908
| 247,008
| 249,511 |
Lance Howarth | 269,219
| 162,849
| 139,994
| 84,682
| 207,392
| 207,651 |
John Cornish | 289,928
| 102,043
| 150,763
| 53,063
| 188,145
| 202,556 |
Ian Drew | 341,701
| 99,101
| 177,685
| 51,533
| 211,584
| 232,051 |
Antonio Viana | 498,883
| 296,965
| 232,879
| 138,624
| 424,345
| 424,345 |
Tom Lantzsch | 263,046
| 88,122
| 122,790 | 41,136
| 187,242
| 222,589 |
*The price at which the tax shares are sold will be confirmed separately
2012 LTIP and 2011 Deferred Annual Bonus ("DAB") Awards
Also with effect from 8 February 2012 annual conditional awards were made under the LTIP and deferred shares were awarded under the DAB in relation to performance during the financial year ended 31 December 2011 to directors and PDMRs as follows:
Name | Number of shares conditionally awarded under the LTIP | Total number of conditional awards now held under the LTIP | Number of deferred shares awarded under the DAB | Total number of deferred shares now held under the DAB |
Warren East | 86,267
| 373,764 | 62,720
| 191,729 |
Tim Score | 70,422
| 313,593 | 50,572
| 162,789 |
Tudor Brown | 0
| 142,348 | 29,049
| 94,775 |
Mike Inglis | 49,295
| 220,314 | 35,651
| 113,465 |
Simon Segars | 49,295
| 219,011 | 35,387
| 112,784 |
Mike Muller | 48,415
| 216,177 | 34,991
| 111,270 |
Graham Budd | 41,373
| 174,940 | 29,049
| 87,883 |
Bill Parsons | 35,211
| 156,960 | 25,418
| 81,219 |
Patricia Alsop | 33,450
| 148,602 | 24,031
| 76,760 |
Philip David | 33,450
| 148,602 | 24,031
| 75,454 |
Lance Howarth | 28,169
| 124,268 | 20,466
| 61,932 |
John Cornish | 29,049
| 128,406 | 21,126
| 65,151 |
Antonio Viana | 41,926
| 182,588 | 30,162
| 95,015 |
Ian Drew | 33,890
| 149,533 | 24,427
| 76,131 |
Tom Lantzsch | 35,682
| 159,467 | 26,338
| 63,150 |
The mid market closing price on 7 February 2012, being the business day prior to the date of these awards, was 568 pence per share.
Under the DAB, the deferred shares and any matching shares earned (which would be subject to achievement of an EPS performance condition) will normally be released 3 years from the date of award. Under the LTIP, the vesting of shares conditionally awarded is subject to achievement of a TSR performance condition and they will normally vest 3 years from the date of award.
ENDS
Related Shares:
ARM.L