Dunelm Group PLC

Remuneration Information • Oct 8, 2013

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RNS Number : 9375P

Dunelm Group plc

08 October 2013

DUNELM GROUP plc

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY AND CONNECTED PERSONS

8 October 2013

LTIP awards to Executive Directors

Conditional awards under the Company's Long-Term Incentive Plan (LTIP) have been granted on 7 October 2013 over ordinary shares in Dunelm Group plc, in the form of a nil cost option, to Nick Wharton, Chief Executive, and David Stead, Finance Director.

Will Adderley, Executive Deputy Chairman, has waived his entitlement to receive an LTIP award.

The maximum award under the LTIP is 150% of basic salary for each executive director.

The awards are subject to the satisfaction of a performance condition over the three financial years commencing on 30 June 2013. Shares which executives have earned, following application of the performance condition, will be subject to a two year deferral. They will therefore vest to the executive after five years, on 7 October 2018. The executives will also receive on exercise a payment equal to any dividends that would have been paid on the shares during the deferral period. In the event that an executive leaves the company after the three year performance period, the LTIP shares already earned will continue to vest to the executive at the end of the full five year period. This is intended to increase executives' motivation to achieve sustained performance.

The award is also subject to claw back in the case of mis-statement of performance to which a previous LTIP award or bonus related, miscalculation of performance conditions in previous exercised options, or gross misconduct on the part of the individual.

Using a closing mid price on 4 October 2013 of 876.5 pence, awards have been granted

as follows:  

	Basic salary	150% of basic salary	Share price	Number of shares in award	Total number of LTIP options held after this award
Nick Wharton	£416,160	£624,240	876.5p	71,220	552,901
David Stead	£269,300	£403,950	876.5p	46,087	250,631

In addition to the LTIP options noted above, Nick Wharton and David Stead each have 2,493 options under the Company's Save as You Earn Option Scheme. 

Name of authorised Company official responsible for making this notification:

Dawn Durrant, Company Secretary

0116 2644356

This information is provided by RNS

The company news service from the London Stock Exchange

END

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