National Express Group PLC Director/PDMR Shareholding (5667U)
April 06 2021 - 10:42AM
UK Regulatory
TIDMNEX
RNS Number : 5667U
National Express Group PLC
06 April 2021
NATIONAL EXPRESS GROUP PLC
("Company")
Notification of transactions by a Person Discharging Managerial
Responsibilities ("PDMR")
The Company provides notification of the following transactions
effected on 6 April 2021 relating to the below named PDMR and his
interests in the ordinary shares of nominal value 5p each in the
capital of the Company ("Shares") (ISIN: GB0006215205).
The transactions arise in respect of: (i) the 6.52% vesting on 3
April 2021 of a three-year performance conditioned nil cost option
award over certain Shares granted on 3 April 2018 to the
below-named PDMR under the Company's Long-Term Incentive Plan 2015
("2018 LTIP Option"); and (ii) the exercise by the below-named PDMR
of his 2018 LTIP Option over all vested Shares thereunder and
immediate sale of a sufficient number of Shares to cover his
personal tax liability arising on such exercise.
Name and Number of Shares Number of Beneficial Total other
position vested under vested Shares interest of interest held
of PDMR the 2018 LTIP acquired and PDMR in Shares in
Option on 3 retained on following the Shares following
April 2021 and exercise of transaction the transaction
sold on 6 April the 2018 LTIP (3) (4)
2021(1) Option(2)
9,061 Shares
Chris Davies, vested and 4,268
Group Chief sold at
Financial 329.4 pence
Officer per Share 4,793 253,031 567,835
-------------------- --------------- ---------------- ------------------
(1) Vested Shares under the 2018 LTIP Option have both a
two-year exercise and a two-year compulsory holding period which
run concurrently. The compulsory holding period is subject to an
entitlement to sell a sufficient number of vested Shares to satisfy
tax liabilities arising on exercise of the 2018 LTIP Option. Any
residual vested Shares held beneficially post-exercise of the 2018
LTIP Option must be retained for the remainder of the holding
period. Malus and clawback also apply to such vested Shares for two
years form the date of vesting, including post termination of
employment. Vested Shares qualify on vesting for an accrued
dividend equivalent entitlement from the Company.
(2) All Shares delivered on exercise of the 2018 LTIP Option
were through the transfer of market purchased Shares held in the
Company's Employee Benefit Trust.
(3) Including those held by connected persons.
Represents outstanding awards granted under the Company's
Long-Term Incentive Plan.
1. Details of PDMR / PCA
Full Name Chris Davies
------------------------------- ---------------------------------------------------
Position / status Group Chief Financial Officer, PDMR
------------------------------- ---------------------------------------------------
Initial notification Initial notification
/ amendment
---- ------------------------------- ---------------------------------------------------
2. Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
------------------------------------------------------------------------------------
Name National Express Group PLC
---- --------------------------------- -------------------------------------------------
LEI 213800A8IQEMY8PA5X34
---- --------------------------------- -------------------------------------------------
3. Details of the transaction(s): section to be repeated for (i) each type
of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
------------------------------------------------------------------------------------
Description of the Ordinary shares of 5p each
financial instrument
------------------------------- ---------------------------------------------------
Identification code GB0006215205
------------------------------- ---------------------------------------------------
Nature of the transaction 1. Vest of nil cost option under the Company's
2015 Long-Term Incentive Plan
2. Exercise of vested nil cost option under
the Company's 2015 Long-Term Incentive Plan
and sale of sufficient shares to cover tax
------------------------------- ---------------------------------------------------
Price (s) and volume(s) Price(s) Volume(s) Total
1. GBP n/a 9,061 n/a
--------- ---------- -------------
2. GBP3.294 4,268 GBP14,058.79
--------- ---------- -------------
------------------------------- ---------------------------------------------------
Date of the transaction 6 April 2021
------------------------------- ---------------------------------------------------
Place of the transaction London Stock Exchange
------------------------------- ---------------------------------------------------
This above notice is given in fulfilment of the Company's
obligation under DTR 3.1 and Article 19 of the EU Market Abuse
Regulation 596/2014.
- END -
National Express contact and telephone number for enquiries:
Jennifer Myram, Company Secretary
07880 472885
Melanie Travis, Deputy Company Secretary
07990 802678
Notes:
Legal Entity Identifier: 213800A8IQEMY8PA5X34
Classification: 3.1 (with reference to DTR6 Annex 1R)
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END
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