Last checked at 22 Mar 2010 16:29
Director and PDMR Shareholdings
Taylor Wimpey plc: Taylor Wimpey Performance Share Plan and Taylor Wimpey 2008 Executive Incentive Scheme - Share Deferral
The Company announces conditional awards made under the Taylor Wimpey Performance Share Plan ("TWPSP") and also the number of shares that certain Executives have been required to defer under the Taylor Wimpey 2008 Executive Incentive Scheme ("TWEIS")
TWPSP 2010 Awards
Conditional performance share awards have today been granted to three Executive Directors and one Person Discharging Managerial Responsibility ("PDMR") as set out in the table below.
Due to the later timing of the grant of the 2009 long term incentive awards to Executives, 2010 awards are to be made in two equal instalments. The second instalment will be made and announced as soon as practicably possible after the Company's announcement of its 2010 half year results.
|
Name | Director/ PDMR | TWPSP Shares Awarded |
| Pete Redfern | Director | 1,574,606 |
| Chris Rickard | Director | 854,786 |
| Sheryl Palmer | Director | 454,499 |
| James Jordan | PDMR | 548,300 |
The price used to calculate the above awards was 40.01 pence being the average mid-market close price for Taylor Wimpey plc 1p Ordinary Shares for the three days prior to the date of these awards on 22 March 2010.
The vesting of awards under the TWPSP will be subject to the achievement of performance criteria based on Total Shareholder Return and Return on Capital Employed which will be measured at the end of the applicable three year performance period in respect of each award made.
TWEIS
In accordance with Disclosure Rule 3.1.4R(1), the Company also announces that SG Hambros Trust Company (Channel Islands) Limited, as Trustee of the TWEIS has on 19th March 2010 set aside nine hundred and ninety eight thousand, one hundred and nineteen shares out of its balance of Ordinary Shares in the Company, for use under the Scheme, at 39.59 pence per share (being the mid market closing share price for the Company's shares on the London Stock Exchange on that day).
Under the TWEIS, certain participants are required to defer for a period of three years a proportion of their bonus into shares in the Company. Accordingly, the Executives listed below have the following interest in the Shares held on trust with each amount equivalent to 25% of their cash bonus earned for performance in 2009:
|
Name | Director/ PDMR | Shares Deferred |
| Pete Redfern | Director | 497,284 |
| Chris Rickard | Director | 269,954 |
| James Jordan | PDMR | 230,882 |
James Jordan
Group Company Secretary and General Counsel - 22 March 2010