Last checked at 4 Apr 2017 11:00
4 April 2017
Centrica plc ('the Company')
Notification of Transactions of Directors
The Company was notified on 3 April 2017 of the following transactions which took place in London and are in respect of Centrica plc ordinary shares of 614/81pence (Shares).
Grant of Awards
Awards over Shares were granted on 1 April 2017 to Executive Directors ('Executives'). The awards were granted under the terms of the Centrica Long Term Incentive Plan (LTIP) and consisted of conditional awards and forfeitable shares.
Conditional Awards Granted Under the LTIP
Number of Shares subject to award | |
Jeff Bell | 755,702 |
Iain Conn | 1,270,953 |
Mark Hanafin | 858,752 |
Mark Hodges | 858,752 |
The above awards are subject to the satisfaction of performance conditions over a 3 year period commencing with 2017, and continued employment, in accordance with the approved Remuneration Policy. Post vesting, the shares are subject to an additional 2 year holding period.
Forfeitable Shares Acquired Under the LTIP
Number of Shares acquired | |
Jeff Bell | 194,097 |
Iain Conn | 347,632 |
Mark Hanafin | 220,565 |
Mark Hodges | 249,208 |
The above Shares were acquired at 218.2p with deferred Annual Incentive Plan (AIP) funds and are subject to a mandatory holding period of 3 years for two-thirds of the Shares and 4 years for the balance.
Release of Shares
On 3 April 2017, Shares were released to Executives from the Centrica Deferred and Matching Share Scheme (DMSS), the Centrica Share Award Scheme (SAS) and the Centrica On Track Incentive Plan (OTIP).
Number of Shares released from DMSS | Number of Shares released from SAS | Number of Shares released from OTIP | Number of Shares sold to cover statutory withholding liabilities | Sale price per Share | |
Jeff Bell | 12,542 | 29,123 | 83,112 | 58,764 | 215.5p |
Mark Hanafin | 47,832 | - | - | 22,527 | 215.5p |
This announcement is made following notification under Disclosure Rule 3.1.2.