FirstGroup PLC — Remuneration Information 2017

Nov 24, 2017

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FIRSTGROUP PLC - Director/PDMR Shareholding

PR Newswire

London, November 24

FirstGroup plc

24 November 2017

Director/PDMR Shareholding

Grant of awards under the Long-Term Incentive Plan (“LTIP”)

FirstGroup plc (the “Company”) announces that the Company’s Executive Directors were granted awards, for no consideration, on 24 November 2017 over ordinary shares of £0.05 each in the capital of the Company under the LTIP.

The awards under the LTIP will normally vest following the end of the three-year performance period commencing on 1 April 2017, subject to the satisfaction of performance conditions relating to earnings per share, total shareholder return and return on capital employed (“ROCE”), and provided the Director remains in their role within FirstGroup. The Remuneration Committee retains the discretion to alter the LTIP vesting outcome in light of the underlying performance of the Company during the performance period.

The award granted to Tim O’Toole, Chief Executive, is structured as a conditional award under which, following vesting, the shares are transferred to the participant for nil payment. The award granted to Matthew Gregory, Chief Financial Officer, is structured as a nil-cost option, which may be exercised for up to 12 months following vesting. Both awards are subject to clawback and malus, and a two-year post vesting holding period, as per the rules of the LTIP.

As disclosed in the Annual Report and Accounts 2017, these LTIP awards have been granted following a review of the performance conditions and subsequent consultation with major shareholders. Award levels remained unchanged. Further detail will be provided in the Annual Report and Accounts 2018.

The transaction listed above took place in London (XLON). 

In addition, the information below is provided in accordance with the requirements of the Disclosure Guidance Transparency Rule (DGTR) 6.2.2AR:

Legal Entity Identifier (LEI):  549300DEJZCPWA4HKM93

Classification as per DGTR 6 Annex 1R:  2.2

Finally, information required under Article 19.3 of the Market Abuse Regulation is provided below.

Enquiries:

Faisal Tabbah, Head of Investor Relations

Stuart Butchers, Group Head of Media

Silvana Glibota-Vigo, Deputy Company Secretary

Tel: +44 (0) 20 7291 0505

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1Details of the person discharging managerial responsibilities (“PDMR”) / person closely associateda)Name1.   Tim O’Toole

2.   Matthew Gregory2Reason for the notificationa)Position/status1.   Executive Director

2.   Executive Directorb)Initial notification/AmendmentInitial notification3     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameFirstGroup plcb)LEI549300DEJZCPWA4HKM934Details 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 conducteda)Description of the financial instrument, type of instrument

Identification codeOrdinary shares of 5p each

-    

-     GB0003452173b)Nature of the transaction1.   Grant of a conditional award under the LTIP

2.   Grant of a nil-cost option to acquire shares under the LTIPc)Price(s) and volume(s)

Price(s)	Volume(s)
1.   Nil	969,197
2.   Nil	730,420

d)Aggregated information1.   £0.002.   £0.00e)Date of the transaction24 November 2017f)Place of the transactionLondon Stock Exchange (XLON)