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BAE Systems PLC — Director's Dealing 2017
Mar 28, 2017
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Director's Dealing
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RNS Number : 7945A
BAE SYSTEMS PLC
28 March 2017
Director/PDMR Shareholding
BAE Systems plc announces that certain Persons Discharging Management Responsibility (PDMRs) have:
· exercised options to acquire ordinary 2.5p shares in BAE Systems plc;
· acquired ordinary 2.5p shares derived from performance and restricted share awards granted under the Company's long-term incentive plans at nil consideration;
and a number of the shares were subsequently sold.
The details of these transactions, which took place on the London Stock Exchange, are set out below.
In addition, Elizabeth Bramwell, a Closely Associated Person to a PDMR, yesterday sold 5,000 ordinary 2.5p shares in BAE Systems at a price of 640.6643 pence per share. This transaction also took place on the London Stock Exchange.
1. BAE Systems Executive Share Option Plan
| Number of shares under option exercised | Option price (per share) | Shares sold* | Shares retained | Sale price (per shares) |
|
| Philip Bramwell | 150,092 | 411.5 pence | 53,587 | Nil | 640.0 pence |
| Alan Garwood | 135,749 | 411.5 pence | 26,561 | 21,796 | 639.20 pence |
| Guy Griffiths | 298,167 | 411.5 pence | 106,228 | Nil | 639.245 pence |
* Share options 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.
2. BAE Systems Performance Share Plan
| Number of shares exercised | Number of shares sold | Sale price (per share) | |
| Thomas Arseneault* | 11,474 | 9,980 | 645.65 pence |
| Guy Griffiths | 4,735 | 4,735 | 639.245 pence |
*This relates to a contingent award, rather than an option.
3. BAE Systems Restricted Share Plan
| Number of shares acquired | Number of shares sold | Sale price (per share) | |
| Thomas Arseneault | 84,105 | 73,154 | 645.65 pence |
| Jerry DeMuro | 157,440 | 75,288 | 645.65 pence |
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Tom Arseneault
2
Reason for the notification
a)
Position/status
Chief Operating Officer, BAE Systems, Inc.
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
BAE Systems plc
b)
LEI
8SVCSVKSGDWMW2QHOH83
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 financial instrument, type of instrument
Identification code
Ordinary shares of 2.5p each in BAE Systems plc
GB0002634946
b)
Nature of the transaction
Acquisition of shares under the Restricted Share Plan and Performance Share Plan, the subsequent disposal of some of those shares and retention of the balance of shares
c)
Price(s) and volume(s)
| Price | Volume | |
| Acquisition of shares on release of share awards | Nil | 95,579 |
| Sale of shares, including those sold to satisfy tax liabilities | £6.4565 | 83,134 |
| Shares retained | 12,445 | |
d)
Aggregated information
- Aggregated volume
- Price
| Acquisition Volume: 95,579 Price GBP: Nil |
| Shares sold (including those sold to satisfy tax liabilities) Volume: 83,134 Price GBP: £536,754.67 |
e)
Date of the transaction
2017-03-27
f)
Place of the transaction
XLON - London Stock Exchange
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Philip Bramwell
2
Reason for the notification
a)
Position/status
Group General Counsel
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
BAE Systems plc
b)
LEI
8SVCSVKSGDWMW2QHOH83
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 financial instrument, type of instrument
Identification code
Ordinary shares of 2.5p each in BAE Systems plc
GB0002634946
b)
Nature of the transaction
Exercise of share options and the subsequent disposal of those shares
c)
Price(s) and volume(s)
| Price | Volume | |
| Acquisition of shares on exercise of share option | £4.115 | 150,092 |
| Shares retained to settle the cost of exercise | £6.40 | 96,505 |
| Sale of shares, including those sold to satisfy income tax and NIC liability | £6.40 | 53,587 |
| Shares Retained | Nil |
d)
Aggregated information
- Aggregated volume
- Price
Aggregated volume:
| Exercise Volume: 150,092 Price GBP: £617,628.58 |
| Shares retained to settle the cost of exercise Volume: 96,505 Price GBP: £617,632.00 |
| Shares sold (including those sold to satisfy income tax and NIC liability) Volume: 53,587 Price GBP: £342,956.80 |
e)
Date of the transaction
2017-03-27
f)
Place of the transaction
XLON - London Stock Exchange
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Elizabeth Bramwell |
| 2 | Reason for the notification | |
| a) | Position/status | Closely Associated Person to Philip Bramwell, Group General Counsel |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | BAE Systems plc |
| b) | LEI | 8SVCSVKSGDWMW2QHOH83 |
| 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 financial instrument, type of instrument Identification code |
Ordinary shares of 2.5p each in BAE Systems plc GB0002634946 |
| b) | Nature of the transaction | Disposal of shares |
| c) | Price(s) and volume(s) | Volume: 5,000 Price GBP: £6.406643 |
| d) | Aggregated information - Aggregated volume - Price |
Aggregated volume: 5,000 £32,033.22 |
| e) | Date of the transaction | 2017-03-27 |
| f) | Place of the transaction | XLON - London Stock Exchange |
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Jerry DeMuro
2
Reason for the notification
a)
Position/status
President & Chief Executive Officer, BAE Systems, Inc. and Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
BAE Systems plc
b)
LEI
8SVCSVKSGDWMW2QHOH83
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 financial instrument, type of instrument
Identification code
Ordinary shares of 2.5p each in BAE Systems plc
GB0002634946
b)
Nature of the transaction
Acquisition of shares under the Restricted Share Plan, the subsequent disposal of some of those shares and retention of the balance of shares
c)
Price(s) and volume(s)
| Price | Volume | |
| Acquisition of shares on release of share award | Nil | 157,440 |
| Sale of shares, including those sold to satisfy tax liabilities | £6.4565 | 75,288 |
| Shares retained | 82,152 | |
d)
Aggregated information
- Aggregated volume
- Price
| Acquisition Volume: 157,440 Price GBP: Nil |
| Shares sold (including those sold to satisfy tax liabilities) Volume: 75,288 Price GBP: £486,096.97 |
e)
Date of the transaction
2017-03-27
f)
Place of the transaction
XLON - London Stock Exchange
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Alan Garwood
2
Reason for the notification
a)
Position/status
Group Business Development Director
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
BAE Systems plc
b)
LEI
8SVCSVKSGDWMW2QHOH83
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 financial instrument, type of instrument
Identification code
Ordinary shares of 2.5p each in BAE Systems plc
GB0002634946
b)
Nature of the transaction
Exercise of share options, the sale of some of those shares and retention of the balance of shares
c)
Price(s) and volume(s)
| Price | Volume | |
| Acquisition of shares on exercise of share option | £4.115 | 135,749 |
| Shares retained to settle the cost of exercise | £6.392 | 87,392 |
| Sale of shares, including those sold to satisfy income tax and NIC liability | £6.392 | 26,561 |
| Shares retained | 21,796 | |
d)
Aggregated information
- Aggregated volume
- Price
Aggregated volume:
| Exercise Volume: 135,749 Price GBP: £558,607.14 |
| Shares retained to settle the cost of exercise Volume: 87,392 Price GBP: £558,609.66 |
| Shares sold (including those sold to satisfy income tax and NIC liability) Volume: 26,561 Price GBP: £169,777.91 |
e)
Date of the transaction
2017-03-27
f)
Place of the transaction
XLON - London Stock Exchange
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Guy Griffiths
2
Reason for the notification
a)
Position/status
Group Managing Director, International
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
BAE Systems plc
b)
LEI
8SVCSVKSGDWMW2QHOH83
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 financial instrument, type of instrument
Identification code
Ordinary shares of 2.5p each in BAE Systems plc
GB0002634946
b)
Nature of the transaction
Exercise of share options and the subsequent disposal of those shares
c)
Price(s) and volume(s)
| Price | Volume | |
| Acquisition of shares on exercise of share option | £4.115 | 298,167 |
| Shares retained to settle the cost of exercise | £6.39245 | 191,939 |
| Sale of shares, including those sold to satisfy income tax and NIC liability | £6.39245 | 106,228 |
| Share Retained | Nil |
d)
Aggregated information
- Aggregated volume
- Price
Aggregated volume:
| Exercise Volume: 298,167 Price GBP: £1,226,957.21 |
| Shares retained to settle the cost of exercise Volume: 191,939 Price GBP: £1,226,960.46 |
| Shares sold (including those sold to satisfy income tax and NIC liability) Volume: 106,228 Price GBP: £679,057.18 |
e)
Date of the transaction
2017-03-27
f)
Place of the transaction
XLON - London Stock Exchange
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Guy Griffiths
2
Reason for the notification
a)
Position/status
Group Managing Director, International
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
BAE Systems plc
b)
LEI
8SVCSVKSGDWMW2QHOH83
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 financial instrument, type of instrument
Identification code
Ordinary shares of 2.5p each in BAE Systems plc
GB0002634946
b)
Nature of the transaction
Exercise of nil cost options under the Performance Share Plan and the subsequent disposal of those shares
c)
Price(s) and volume(s)
| Price | Volume | |
| Acquisition of shares on exercise of share option | Nil | 4,735 |
| Sale of shares, including those sold to satisfy income tax and NIC liability | £6.39245 | 4,735 |
| Shares Retained | Nil |
d)
Aggregated information
- Aggregated volume
- Price
Aggregated volume:
| Exercise Volume: 4,735 Price GBP: Nil |
| Shares sold (including those sold to satisfy income tax and NIC liability) Volume: 4,735 Price GBP: £30,268.25 |
e)
Date of the transaction
2017-03-27
f)
Place of the transaction
XLON - London Stock Exchange
This information is provided by RNS
The company news service from the London Stock Exchange
END
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