Director/PDMR Shareholding
Updated : 17:36
12 March 2019
Director / PDMR Shareholding
The following announcement and notification is made in accordance with Article 19 of the EU Market Abuse Regulation.
Deferred Stock Plan Release
1 Mark Johnstone (Group Chief Executive) received a conditional share award on 11 March 2016 under the Company's Deferred Stock Plan. The forfeiture provision attached to the conditional share award lifted on 11 March 2019.
42,270 conditional award shares, being the number of shares net of applicable tax, were released at nil cost to Mr Johnstone today in accordance with the Plan Rules.
2 David Crook (Group Finance Director), received a conditional share award and a synergy share award on 11 March 2016 under the Company's Deferred Stock Plan. The forfeiture provision attached to the share awards lifted on 11 March 2019.
23,164 conditional award shares and 8,459 synergy award shares, being the number of shares net of applicable tax, were released at nil cost to Mr Crook today in accordance with the Plan Rules.
Long-Term Incentive Plan Release
1 Mark Johnstone (Group Chief Executive) received a conditional share award on 11 March 2016 under the Company's Long-Term Incentive Plan. The performance condition attaching to this conditional share award was tested and 46.87% of the award vested today.
Mr Johnstone received a total of 34,087 shares net of applicable tax. Under the linked award 5,973 shares were released in accordance with the Plan rules and immediately sold with the funds being used to pay the exercise price on 7,291 approved options at an option price of 192.83 pence per share. Mr Johnstone retains 4,208 approved options net of applicable tax. Under the conditional award he received 29,879 shares net of applicable tax.
2 David Crook (Group Finance Director) received a conditional share award on 11 March 2016 under the Company's Long-Term Incentive Plan. The performance condition attaching to this conditional share award was tested and 46.87% of the award vested today.
Mr Crook received 18,655 shares net of applicable tax.
Total Beneficial Holdings
Mr Johnstone's total beneficial holding including those of his connected persons following the transactions set out above is 302,932 shares.
Mr Crook's total beneficial holding including those of his connected persons following the transactions set out above is 62,606 shares.
Deferred Stock Plan - Share Award Grant
The following conditional share awards over BBA Aviation plc ordinary shares of 2916/21 pence each were made on 12 March 2019 to the directors listed below under the Company's Deferred Stock Plan.
| Number of shares subject to conditional award
|
Mark Johnstone (Group Chief Executive) | 294,683 |
David Crook (Group Finance Director) | 173,242 |
The conditional share awards are subject to forfeiture if the directors leave within three years of the awards. The awards are also subject to an additional holding period of 2 years from the date on which the awards vest.
Long-Term Incentive Plan - Share Award Grant
The following conditional share awards over BBA Aviation plc ordinary shares of 2916/21 pence each were made on 12 March 2019 to the directors listed below under the Company's Long-Term Incentive Plan.
| Number of shares subject to conditional award
|
Mark Johnstone (Group Chief Executive) | 454,632 |
David Crook (Group Finance Director) | 244,928 |
The conditional share awards are subject to the achievement of performance conditions and if they vest will be released at nil cost in accordance with the Plan Rules. The awards are also subject to an additional holding period of 2 years from the date on which the awards vest.
The forms required under the EU Market Abuse Regulation follow.
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Mark Johnstone |
2 | Reason for the notification | |
a) | Position/status | Group Chief Executive |
b) | Initial Notification / Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | BBA Aviation plc |
b) | LEI | 2138001T2QEV5RXMFI32
|
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 and Identification code | Ordinary Shares ISIN: GB00B1FP8915 |
b) | Nature of transaction | Vesting of 42,270 net of tax conditional award shares granted under the Deferred Stock Plan.
Vesting of 5,973 linked award shares granted under the Long-Term Incentive Plan which are then sold.
Exercise of 7,291 of approved options at 192.83 pence granted under the Executive Share Option Plan (of which 3,083 are withheld for tax) with the net number being 4,208.
Vesting of 29,879 net of tax conditional award shares granted under the Long-Term Incentive Plan
|
c) | Price(s) and volume(s) | 42,270 shares acquired under the Deferred Stock Plan at nil cost 5,973 shares acquired under the Long-Term Incentive Plan at nil cost (Linked Element) and |
7,291 approved options shares acquired under the Executive Share Option Plan at 192.83 pence per share | ||
29,870 shares acquired under the Long-Term Incentive Plan at nil cost (Conditional Award Element) | ||
d) | Aggregated information: Volume, Price | See above |
e) | Date of the transaction | 12 Mach 2019 |
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | David Crook |
2 | Reason for the notification | |
a) | Position/status | Chief Finance Director |
b) | Initial Notification / Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | BBA Aviation plc |
b) | LEI | 2138001T2QEV5RXMFI32
|
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 and Identification code | Ordinary Shares ISIN: GB00B1FP8915 |
b) | Nature of transaction | Vesting of 23,164 net of tax conditional award shares granted under the Deferred Stock Plan
Vesting of 8,459 net of tax synergy award shares granted under the Deferred Stock Plan
Vesting of 18,655 net of tax conditional award shares granted under the Long-Term Incentive Plan
|
c) | Price(s) and volume(s) | 31,623 shares acquired under the Deferred Stock Plan at nil cost |
18,655 shares acquired under the Long-Term Incentive Plan at nil cost | ||
d) | Aggregated information: Volume, Price |
See above |
e) | Date of the transaction | 12 March 2019 |
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Mark Johnstone |
2 | Reason for the notification | |
a) | Position/status | Group Chief Executive |
b) | Initial Notification / Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | BBA Aviation plc |
b) | LEI | 2138001T2QEV5RXMFI32
|
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 and Identification code | Conditional awards over Ordinary Shares ISIN: GB00B1FP8915 |
b) | Nature of transaction | Conditional share awards made under the Company's Deferred Stock Plan and Long-Term Incentive Plan |
c) | Price(s) and volume(s) | Award over 294,683 conditional shares under the Deferred Stock Plan |
Award over 454,632 conditional shares under the Long-Term Incentive Plan | ||
d) | Aggregated information: Volume, Price |
|
e) | Date of the transaction | 12 March 2019 |
f) | Place of the transaction | Grant of share awards occurred outside a trading venue |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | David Crook |
2 | Reason for the notification | |
a) | Position/status | Group Finance Director |
b) | Initial Notification / Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | BBA Aviation plc |
b) | LEI | 2138001T2QEV5RXMFI32
|
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 and Identification code | Conditional awards over Ordinary Shares ISIN: GB00B1FP8915 |
b) | Nature of transaction | Conditional share awards made under the Company's Deferred Stock Plan and Long-Term Incentive Plan |
c) | Price(s) and volume(s) | Award over 173,242 conditional shares under the Deferred Stock Plan |
Award over 244,928 conditional shares under the Long-Term Incentive Plan | ||
d) | Aggregated information: Volume, Price |
|
e) | Date of the transaction | 12 March 2019 |
f) | Place of the transaction | Grant of share awards occurred outside a trading venue |
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