BAE Systems PLC

Director's Dealing • Apr 16, 2015

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RNS Number : 3647K

BAE SYSTEMS PLC

16 April 2015

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR THEIR CONNECTED PERSONS

Notifications made in accordance with Rule 3.1.4R(1)(a) of the Disclosure Rules and Transparency Rules.

BAE Systems plc announces that certain Persons Discharging Management Responsibility (PDMRs) have exercised share option and performance share awards granted under the Company's long-term incentive plans, and that a number of the shares were subsequently sold.  The Company was notified of these transactions yesterday, 15 April 2015.

The details of these transactions, which took place on the London Stock Exchange, are set out below.  

Performance Share Plan

The following PDMRs exercised awards granted under the Performance Share Plan to acquire ordinary shares of 2.5p each in BAE Systems plc at nil consideration on 15 April 2015 as set out below.  As indicated, a number of the shares were subsequently disposed of on 15 April 2015.

Performance Share Plan
	Number of shares exercised	Number of shares sold	Sale price (per share)
Philip Bramwell	20,078	10,989*	530.49 pence
Guy Griffiths	4,735	2,592*	530.49 pence
Ian King	20,622	11,286*	530.49 pence
Peter Lynas	22,119	12,105*	530.49 pence
Kevin Taylor	14,135	7,736*	530.49 pence
Nigel Whitehead	5,134	5,134	530.49 pence

* Sufficient shares were sold to pay national insurance and income tax falling due on exercise and the balance of shares retained.

Executive Share Option Plan

The following PDMRs exercised options to acquire ordinary 2.5p shares in BAE Systems plc on 15 April 2015 at the option prices stated below.  As indicated, a number of the shares were subsequently disposed of on 15 April 2015. 

	Number of shares under option exercised	Option price (per share)	Shares sold	Shares retained	Sale price (per share)
Tom Arseneault	182,626	£3.01	67,559*	11,445	530.49 pence
Philip Bramwell	199,210	£3.01	86,178*	Nil	530.49 pence
Alan Garwood	180,175	£3.01	77,943*	Nil	530.49 pence
Guy Griffiths	183,716  90,698	£3.01 £4.30	79,475* 90,698	Nil Nil	530.49 pence 530.49 pence
Ian King	145,443 173,960	£4.28 £4.57	145,443 173,960	Nil Nil	530.49 pence 530.49 pence
Peter Lynas	145,297 13,386 75,887 73,522	£3.01 £3.56 £4.28 £4.57	62,855* 13,386 75,887 73,522	Nil Nil Nil Nil	530.49 pence 530.49 pence 530.49 pence 530.49 pence
Kevin Taylor	172,757	£3.01	74,734*	Nil	530.49 pence
Nigel Whitehead	199,210	£3.01	86,178*	Nil	530.49 pence

* Share option settled on net settled basis, ie the Company only issued shares to the value of the difference between the option price and the market price on exercise.  This only applies to options awarded since 2012.

Sale of shares by PDMR and PDMR's Connected Person

Philip Bramwell, a PDMR, yesterday sold 160,294 ordinary shares of 2.5p each in BAE Systems plc at a sale price of 530.49 pence per share.  Elizabeth Bramwell, a person connected to Mr Bramwell, yesterday sold 45,681 ordinary shares of 2.5p each in BAE Systems plc at a sale price of 530.49 pence per share.  These sale transactions took place on the London Stock Exchange.

PDMR Shareholdings

Following the above transactions, each of the PDMRs listed holds shares in excess of their minimum shareholding requirements.  The Company's senior executives are subject to minimum shareholding requirements (MSR) that require the individual to retain a certain value of shares when exercising long-term incentive plan awards unless they already hold shares in excess of their MSR.  Except for the Chief Executive and the President & CEO of BAE Systems, Inc., executive PDMRs have MSRs of 200% of base salary.  For the Chief Executive the requirement is 300% of base salary, and for the President & CEO of BAE Systems, Inc. it is 350%.

Following the above transactions the personal shareholdings of the two executive directors have increased, and are currently as follows:

Ian King - 1,795,304 shares

Peter Lynas - 364,511 shares

Enquiries:

Investors:

Andrew Wrathall

Tel: +44 (0)1252 383455

Email:Andrew.wrathall@baesystems.com

Media:

Richard Webster-Smith

Tel: +44 (0)7801 717739

Email: Richard.webster-smith@baesystems.com

This information is provided by RNS

The company news service from the London Stock Exchange

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