Serco Group PLC Director/PDMR Shareholding (9258B)
April 07 2017 - 4:05AM
UK Regulatory
TIDMSRP
RNS Number : 9258B
Serco Group PLC
07 April 2017
7 April 2017
Serco Group plc
Legal Entity Identifier: 2138005O9XJIJN4JPN90
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ACCORDANCE WITH ARTICLE 19
OF THE EU MARKET ABUSE REGULATION 596/2014
Serco Group plc ('Serco' or 'the Company'), the international
service company, advises that, on 6 April 2017, the individuals
named below, each a PDMR, were granted options to acquire at
nominal cost (with the exception of Ed Casey who has been granted a
conditional share award) the following number of ordinary shares of
2p each in the Company (ISIN: GB0007973794), through participation
in the Serco Group plc Performance Share Plan ('the PSP'):
Name Grant Date Position of Maximum number
PDMR of shares
over which
options granted
---------------- -------------- --------------------- -----------------
Group Chief
Rupert Soames 6 April 2017 Executive 1,504,424
---------------- -------------- --------------------- -----------------
Group Chief
Operating
Ed Casey 6 April 2017 Officer 1,328,107
---------------- -------------- --------------------- -----------------
Group Chief
Financial
Angus Cockburn 6 April 2017 Officer 774,336
---------------- -------------- --------------------- -----------------
CEO, Local
& Regional
Liz Benison 6 April 2017 Government 283,185
---------------- -------------- --------------------- -----------------
CEO, Central
Kevin Craven 6 April 2017 Government 353,982
---------------- -------------- --------------------- -----------------
CEO Middle
David Greer 6 April 2017 East 305,551
---------------- -------------- --------------------- -----------------
Mark Irwin 6 April 2017 CEO AsPac 350,427
---------------- -------------- --------------------- -----------------
Risk & Acquisitions
Guy Leach 6 April 2017 Director 255,000
---------------- -------------- --------------------- -----------------
Geoff Lloyd 6 April 2017 Group HR Director 255,221
---------------- -------------- --------------------- -----------------
Group General
Counsel &
David Eveleigh 6 April 2017 Company Secretary 256,637
---------------- -------------- --------------------- -----------------
Group Strategy
& Communications
Kate Steadman 6 April 2017 Director 159,292
---------------- -------------- --------------------- -----------------
The grants of options have been made in London and are based on
the closing share price on the London Stock Exchange on 5 April
2017 of 113p per share.
The number of shares that will vest under the PSP is conditional
upon the satisfaction of three independent, equally weighted,
performance measures as follows:
Performance Weighting of Performance Target
Measure Measure
------------ ------------ ------------------------------------------------------------------------------------------
EPS 1/3(rd) Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid
on a cash basis) of 13.5p (threshold, 25% vesting) to 16.5p (maximum, 100% vesting),
measured
as an aggregate over the three-year performance period ending 31 December 2019.
------------ ------------ ------------------------------------------------------------------------------------------
TSR 1/3(rd) Total Shareholder Return (TSR) of median (threshold, 25% vesting) to upper quartile
(maximum,
100% vesting) when ranked relative to companies in the FTSE250 (excluding investment
trusts),
measured over the three-year performance period ending 31 December 2019.
------------ ------------ ------------------------------------------------------------------------------------------
ROIC 1/3(rd) Pre-tax Return on Invested Capital (ROIC) of 8.4% (threshold, 25% vesting) to 10.2%
(maximum,
100% vesting), measured as an average over the three-year performance period ending 31
December
2019.
------------ ------------ ------------------------------------------------------------------------------------------
In exceptional circumstances the Remuneration Committee retains
discretion to change performance measures and targets and the
weightings attached to performance measures part-way through the
performance period if there is a significant event such as a major
transaction.
For the Executive Directors, any shares that vest will be
subject to a post-vesting holding requirement that takes the total
term of the award to a minimum of five years. Post-vesting clawback
also applies to the Executive Directors awards. Awards to all
participants are subject to pre-vesting malus.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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