Serco Group PLC Director/PDMR Shareholding (4564V)
03 November 2017 - 4:49AM
UK Regulatory
TIDMSRP
RNS Number : 4564V
Serco Group PLC
02 November 2017
1 November 2017
Serco Group plc
Legal Entity Identifier: 549300PT2CIHYN5GWJ21
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, confirms the vesting details of awards granted in
2014 to Angus Cockburn in the form of Nominal Cost Options under
the 2009 Serco Performance Share Plan ('PSP') ('the Performance
Award') and awards granted in connection with his appointment to
the Company to compensate for performance share awards forfeited on
joining Serco ('the Recruitment Award') (together, 'the Awards').
The performance period for the Awards commenced on 1 January 2014
for the EPS performance condition, 31 October 2014 for the
Strategic Objectives performance condition and 27 June 2014 for all
other performance conditions.
The performance measure vesting details are as follows:
-- For the Performance Award:
Proportion of the Measure Outcome Overall outcome
Award
------------------- --------------------------- ------------------ ----------------
Relative TSR -
for the period
ending 22 February
2017 the Company's
TSR ranked below
1/3(rd) median. Lapsed in full 0%
------------------- --------------------------- ------------------ ----------------
2016 EPS - the
Company did not
meet the threshold
level of performance
for EPS for the
period ending 31
1/6(th) December 2016. Lapsed in full 0%
------------------- --------------------------- ------------------ ----------------
Total vesting in 2017 for 2014 Performance
Award 0%
Lapsed 50%
Still to vest 50%
----------------------------------------------- ----------------
As a result of the lapse of the Performance Award vesting on 31
October 2017, Angus Cockburn is not eligible to receive Shares
pursuant to these Awards.
-- In respect of the Recruitment Award:
Proportion of the Measure Outcome Overall outcome
Award
------------------ -------------------------- ----------------- ----------------
Relative TSR -
for the period
ending 22 February
2017 the Company's
TSR ranked below
40% median. Lapsed in full 0%
------------------ -------------------------- ----------------- ----------------
Strategic Objectives
- the Remuneration
Committee determined
that the Strategic
Objectives had
20% been achieved. Vested in full 20%
------------------ -------------------------- ----------------- ----------------
Total vesting in 2017 for 2014 Recruitment
Award 20%
Lapsed 40%
Still to vest 40%
------------------ --------------------------------------------- ----------------
The closing price of an Ordinary Share of Serco Group plc at the
point of vesting on 31 October 2017 was GBP1.166.
The notifications that follow are for Awards made to Persons
Discharging Managerial Responsibilities ('PDMRs') and show the
vesting of the Awards.
1 Details of the person discharging managerial responsibilities
/ person closely associated
---- ------------------------------------------------------------------------------------------
a) Name Angus Cockburn
---- --------------------------------------- -------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------------------
a) Position/status Group Chief Financial Officer
---- --------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
---- --------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------------------------
a) Name Serco Group plc
---- --------------------------------------- -------------------------------------------------
b) LEI 549300PT2CIHYN5GWJ21
---- --------------------------------------- -------------------------------------------------
4 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
---- ------------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 2 pence each ('Ordinary
financial instrument, Shares')
type of instrument ISIN: GB0007973794
----
Identification code
b) Nature of the transaction The number of Ordinary Shares released
on Recruitment Awards granted in
2014 under the Company's 2009 Performance
Share Plan
---- --------------------------------------- -------------------------------------------------
c) Price(s) and volume(s)
---- ---------------------- ----------------------
Price(s) Volume(s)
---- ---------------------- ----------------------
GBP0.02 56,356
------------------------------------------------------------------- ----------------------
d) Aggregated information
----
- Aggregated volume 56,356
- Price GBP0.02
e) Date of the transaction 31/10/2017
---- --------------------------------------- -------------------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
---- --------------------------------------- -------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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