Senior PLC Director/PDMR Shareholding (0844M)
May 01 2015 - 10:49AM
UK Regulatory
TIDMSNR
RNS Number : 0844M
Senior PLC
01 May 2015
Senior plc (the "Company")
Notification of Transactions by PDMR
This notification is made in accordance with DR
3.1.4R(1)(a).
On 1 May 2015, the Company's Group Chief Executive-designate,
David Squires, was granted the following conditional rights (as
previously disclosed in the Annual Report & Accounts 2014) to
acquire ordinary shares of 10 pence each in the Company:
Award Number of shares comprised within Award
--------------- ----------------------------------------
LTIP Award 219,326
--------------- ----------------------------------------
One-off Award 96,770
--------------- ----------------------------------------
The LTIP Award was granted under the terms of the Senior plc
2014 Long Term Incentive Plan. In the normal course of events, the
LTIP Award shall vest on the third anniversary of grant subject to
David Squires' continued service and to the extent that certain
performance conditions measured over a three-year period are
satisfied. The performance conditions attaching to his award are
the same as those applied to LTIP awards made to other executives
in April 2015.
The following One-off Award was granted under the terms of a
share award agreement agreed in connection with and to facilitate
David Squires' recruitment as Group Chief Executive to partly
compensate him for the loss of certain benefits and share awards
with his previous employer as a result of joining Senior:
i) a one-off award of 4,770 Senior shares;
ii) a long-term incentive award over 32,000 Senior's shares. The
terms of this share award shall mirror the rules and performance
conditions attaching to the LTIP award made to other Senior
executives on 25 March 2013 under the Senior plc 2005 Long-Term
Incentive Plan. This award will ordinarily vest, subject to the
achievement of the associated performance conditions, on or after
25 March 2016; and
iii) a long-term incentive award over 60,000 Senior's shares.
The terms of this share award shall mirror the rules and
performance conditions attaching to the LTIP award made to other
Senior executives on 21 March 2014 under the Senior plc 2005
Long-Term Incentive Plan. This award will ordinarily vest, subject
to the achievement of the associated performance conditions, on or
after 21 March 2017.
No consideration was paid for the grant of these awards and no
consideration is due on the vesting on these awards.
The first tranche of David Squires' one-off award of 4,770
Senior shares vested in accordance with the terms of the One-off
award as set out in the table below. No consideration was payable
in connection with the vesting of the first tranche of the One-off
award.
Name of Director Number of shares acquired on vesting Number of shares sold Price per share at which sold
------------------ ------------------------------------- ---------------------- ------------------------------
David Squires 4,770 0 N/A
------------------ ------------------------------------- ---------------------- ------------------------------
Senior plc was informed by David Squires of the above
transaction on 1 May 2015.
Name of contact and telephone number for queries: Andrew
Bodenham, Tel: 01923 775547.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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