RNS Number:9297T
Woolworths Group PLC
07 May 2008
Woolworths Group plc
PDMRs Interests: Share Awards
The Share Awards listed below were made on 6 May 2008 under the Woolworths Group
Annual Incentive Plan and the Woolworths Group Performance Share Plan.
Annual Incentive Plan
The following awards of ordinary shares of 12.5p each nominal in the Company
have been made on 6 May 2008 under the Company's Annual Incentive Plan. These
conditional awards were made at a price of 11.25p per share and will vest,
subject to the rules of the Plan on 6 May 2011, provided also that the PDMR
remains in employment with the Company at that time.
The basic Core Award is as follows:
Conditional
Share Award
Joanne Huddart 120,009
Philip Streatfield 109,573
Michael Thomas 79,154
Graham Barnetson 76,910
Timothy Owrid 87,659
Paul Ludlam 70,440
In accordance with the rules of the Plan additional Matching Shares may be
awarded for achievement of performance targets over the vesting period which
ends on 6 May 2011 and provided that the PDMR remains in employment with the
Company at that time. The following table sets out how any additional Matching
Share award will vary in line with the increase in earnings per share ("EPS").
Less than 2% pa 2% pa 3% pa 4% pa 5% pa
Joanne Huddart Nil 24,002 32,003 40,003 48,004
Philip Streatfield Nil 21,915 29,220 36,524 43,829
Michael Thomas Nil 15,831 21,108 26,384 31,662
Graham Barnetson Nil 15,382 20,510 25,636 30,764
Timothy Owrid Nil 17,532 23,376 29,219 35,064
Paul Ludlam Nil 14,088 18,784 23,480 28,176
No new shares will be issued to satisfy these awards.
Performance Share Plan
The following awards of ordinary shares of 12.5p each nominal in the Company
have been made on 6 May 2008 under the Company's Performance Share Plan. These
conditional awards were made at a price of 11.25p per share and will vest,
subject to the rules of the Plan and the future performance of the Company, on 6
May 2011, provided also that the PDMR remains in employment with the Company at
that time.
The awards for on target performance are as follows:
Conditional
Share
Award*
Joanne Huddart 153,333
Simon Turner 153,333
David Roberts 123,333
Philip Streatfield 140,000
Claire Tiney 101,333
Michael Thomas 101,133
Graham Barnetson 98,267
Timothy Owrid 112,000
Paul Ludlam 90,000
*Assumes on target EPS and TSR performance
In accordance with the rules of the Plan, 50% of the conditional award depends
on the increase in the Company's fully diluted, adjusted earnings per share ("
EPS") over the next three years. The increase in EPS is in addition to the
increase in the Retail Prices Index. The following table sets out how this
element of the awards will vary in line with the increase in EPS.
EPS-Based Award
Less than 2% 2% pa 3% pa 4% pa 5% pa 6% pa
pa
Joanne Huddart Nil 51,111 76,667 102,222 153,334 204,445
Simon Turner Nil 51,111 76,667 102,222 153,334 204,445
David Roberts Nil 41,111 61,667 82,222 123,334 164,445
Phil Streatfield Nil 46,667 70,000 93,334 140,000 186,667
Claire Tiney Nil 33,778 50.667 67,556 101,334 135,111
Michael Thomas Nil 33,711 50,567 67,422 101,134 134,845
Graham Barnetson Nil 32,756 49,134 65,511 98,267 131,022
Timothy Owrid Nil 37,334 56,000 74,667 112,000 149,334
Paul Ludlam Nil 30,000 45,000 60,000 90,000 120,000
In addition, the remaining 50% of the conditional award depends on the Company's
Total Shareholder Return ("TSR") performance over the next three years. The
Comparator group for these purposes is the FTSE General Retailers Index. The
following table sets out how this element of the award will vary in line with
the increase in EPS.
TSR-Based Award
below median median - 61st - 70th 71st - 80th upper
60th percentile percentile quintile
percentile
Joanne Huddart Nil 51,111 76,666 102,222 204,444
Simon Turner Nil 51,111 76,666 102,222 204,444
David Roberts Nil 41,111 61,666 82,222 164,444
Phil Streatfield Nil 46,666 70,000 93,333 186,666
Claire Tiney Nil 33,778 50.666 67,555 135,111
Michael Thomas Nil 33,711 50,566 67,422 134,844
Graham Barnetson Nil 32,755 49,133 65,511 131,022
Timothy Owrid Nil 37,333 56,000 74,666 149,333
Paul Ludlam Nil 30,000 45,000 60,000 120,000
No new shares will be issued to satisfy any of these awards.
The interest of each of the PDMRs in ordinary shares, share options and
conditional share awards following the grant of these awards is:
Conditional Share
Awards
Shares Share options
Joanne Huddart 41,209 93,800 532,470*
Simon Turner Nil Nil 153,333*
David Roberts Nil Nil 123,333*
Phil Streatfield 88,752 115,763 482,681*
Claire Tiney Nil Nil 101,333*
Michael Thomas 63,920 106,577 362,151*
Graham Barnetson Nil 167,113 345,703*
Timothy Owrid 71,855 108,352 299,715*
Paul Ludlam 13,736 118,957 229,908*
*This figure assumes on target performance is achieved.
The company was notified of the awards on 6 May 2008.
7 May 2008
Stephen East
Group Finance Director
For further information contact:
Stephen East, Group Finance Director, Woolworths Group plc 020 7479 5179
Celia Gordon-Chute, Tulchan Communications 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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