British Land Co PLC Director/PDMR Shareholding (1841G)
August 03 2016 - 10:45AM
UK Regulatory
TIDMBLND
RNS Number : 1841G
British Land Co PLC
03 August 2016
Matching Share Plan ("MSP") - Vesting
The British Land Company PLC (the "Company") announces that on
03 August 2016 it received notification from the Trustees of The
British Land Employee Share Trust of the partial vesting on 02
August 2016 of the MSP Matching Share awards granted to Chris
Grigg, Lucinda Bell, Charles Maudsley and Tim Roberts, Executive
Directors of the Company, and to Nigel Webb, a Person Discharging
Managerial Responsibilities of the Company ("PDMR"), on 02 August
2013. The Matching Share awards vested at 50% as the MSP's Gross
Income Growth performance test had been fully attained whereas the
Total Shareholder Return performance test had not been met.
In accordance with the terms of the MSP, the MSP Bonus Shares
that were purchased by the MSP participants on 02 August 2013 using
proportions of their retained Annual Incentive awards were released
on 02 August 2016.
Matching Shares Bonus Shares
Vesting Released
------------------ ---------------- -------------
Chris Grigg 63,548 31,296
------------------ ---------------- -------------
Lucinda Bell 27,360 13,474
------------------ ---------------- -------------
Charles Maudsley 29,714 14,633
------------------ ---------------- -------------
Tim Roberts 29,714 14,633
------------------ ---------------- -------------
Nigel Webb 13,974 6,882
------------------ ---------------- -------------
Following the vesting Chris Grigg sold 29,928 shares, Lucinda
Bell sold 12,886 shares, Charles Maudsley sold 13,994 shares, Tim
Roberts sold 13,994 shares and Nigel Webb sold 6,582 shares, all at
a price of GBP6.6088 per share, to cover their respective tax
liabilities. Tim Roberts transferred 15,720 shares to his wife,
Sarah Roberts, and Nigel Webb transferred 7,392 shares to his wife,
Philippa Webb.
Fund Managers Performance Plan ("FMPP") - Vesting
The Company further announces that on 02 August 2016 the third
tranche of the FMPP awards granted to Darren Richards and Nigel
Webb, each a PDMR, on 02 August 2013 vested.
FMPP Shares
Vesting
----------------- ------------
Darren Richards 7,122
----------------- ------------
Nigel Webb 26,711
----------------- ------------
Following the vesting Darren Richards sold 3,355 shares and
Nigel Webb sold 12,580 shares, both at a price of GBP6.6088 per
share, to cover their respective tax liabilities. Nigel Webb
transferred the remaining 14,131 shares to his wife, Philippa
Webb.
The above transactions took place in London.
This notification is made in accordance with the requirements of
DTR 3.1.4 R
Enquiries:
Camilla Wiseman
Company Secretariat,
British Land 020 7486 4466
This information is provided by RNS
The company news service from the London Stock Exchange
END
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