26th Jun 2009 17:30
Directors' and PDMRs' share interests
In 2005 Bodycote plc (`the Company') adopted the Short Term Stock Bonus Plan (STSBP'). Awards were made in March 2006 shortly after the remuneration committee had assessed the Company's total shareholder return performance for 2005 and the vesting of the awards was also contingent on the participants continuing in service with the Company for a three year period after the award had been made.
The awards have now vested in full for those participants who remained employed by the Company during the vesting period. The Company therefore announces the following transactions in relation to Executive Directors and PDMRs.
Director/PDMR Vested Shares sold Net shares to cover acquired Shares tax and social security liabilities
John Hubbard Former Chief Executive 69,154 21,085 48,069 David Finance Director 45,748 17,605 28,143Landless Derek Sleight Former Corporate Development 34,528 13,454 21,074
Director Jan Elwart European Thermal Processing PDMR 27,886 - 27,886 Michael UK and Nordic Thermal Processing 31,279 12,038 19,241Hallas PDMR Martyn Wilton Global HIP PDMR 35,200 35,200 -* Dan McCurdy* North American and Asian 15,202 15,202 - automotive and commercial Thermal Processing PDMR
In accordance with the rules of the STSBP, the Company has cash settled certain awards made to participant Executive Directors and PDMRs tax resident in the US (marked *).
The Bodycote Incentive Plan (`BIP') is a long term incentive plan approved byshareholders and adopted by the Company in 2006. Awards have now vestedfollowing the performance targets being met in full. The Company thereforeannounces the following transactions in relation to Executive Directors andPDMRsDirector/PDMR Vested Shares sold Net to cover tax shares Shares and social acquired security liabilities
John Hubbard Former Chief Executive 219,313 68,665 150,648 David Finance Director 145,083 58,089 86,994Landless Derek Sleight Former Corporate Development 108,645 43,500 65,145
Director Jan Elwart European Thermal Processing PDMR 25,323 13,271 12,052 Michael UK and Nordic Thermal Processing 28,342 13,349 14,993Hallas PDMR Shares sold at 141.5p each
Martyn Wilton Global HIP PDMR 29,991 29,991 -
Dan McCurdy North American and Asian 8,095 8,095 - automotive and commercial Thermal Processing PDMR
On 9 June 2009 PDMR Michael Hallas exercised 42,780 share options granted in 2002 and expiring in September 2009 at 125.76p each and sold 39,414 shares at 150p on the same day sufficient only to cover the costs (e.g. tax, primary and secondary national insurance) associated with exercising the options.
The share interests of the current executive directors and PDMRs as a consequence of the listed transaction are now as follows:
Director/PDMR Shares now held John Hubbard Former Chief Executive 879,410
David Finance Director 153,381Landless Jan Elwart European Thermal Processing PDMR 90,576 Michael UK and Nordic Thermal Processing PDMR 183,053Hallas
Martyn Wilton Global HIP PDMR 50,145 Dan McCurdy North American and Asian automotive and 9,367 commercial Thermal Processing PDMR
The Company also transferred 198,717 ordinary shares out of treasury to John Hubbard in relation to the awards made to him under the STSBP and BIP. A further 14,133 ordinary shares were also transferred from treasury to US employees (who are not executive directors or PDMRs) of the Company who also received an award under the BIP, and a balance of 6,468 shares were transferred out of treasury to the Bodycote International Employee Benefit Trust. The Company now holds no shares in treasury.
26 June 2009
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Bodycote