Last checked at 30 Jul 2014 08:58
QinetiQ Group plc
30 July 2014
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR THEIR CONNECTED PERSONS
Vesting of Awards under Value Sharing Plan
QinetiQ Group plc (the "Company") announces that on 29 July 2014 Executive Directors acquired Ordinary Shares of 1p each in the Company ('Shares') as detailed in the table below as a result of the vesting of awards granted on 29 July 2010 under the QinetiQ Value Sharing Plan ("VSP"):
Director | Number of Shares acquired on vesting on 29 July 2014 | Number of Shares sold on 29 July 2014 | Price per share | Resulting aggregate number of Shares held beneficially (across all accounts) | Total percentage holding |
David Mellors | 154,551 | 154,551 | 208.0035p | 376,208 | 0.058% |
Leo Quinn | 309,102 | 309,102 | 208.0035p | 1,919,291 | 0.295% |
The VSP operates as follows:
The VSP provided executives with a pre-defined number of shares for each £1m of Additional Shareholder Value ("ASV") created. Two performance measures, a TSR-based measure and a PBT-based measure, are used to determine the ASV created during the three-year performance period.
50% of any awards earned vests on the third anniversary of the date of grant and the remaining 50% vests on the fourth anniversary of the date of grant.
This notification is made pursuant to rule 3.1.4R of the FCA Disclosure Rules and Transparency Rules.
END
For further information:
Jon Messent, Company Secretary, QinetiQ Group plc
01252 392000