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The Vitec Group PLC  -  VTC   

Director/PDMR Shareholding

Released 12:24 21-Mar-2013

RNS Number : 5669A
The Vitec Group PLC
21 March 2013
 

21 March 2013

 

THE VITEC GROUP PLC

 

Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)

 

Long Term Incentive Plan (LTIP)

 

The Vitec Group plc ("the Company") announces that on 21 March 2013 the following awards of ordinary shares of 20 pence each were made under the Company's LTIP to Directors and PDMRs.

 

Name

Position

Award of LTIP shares (subject to satisfaction of performance conditions)

Stephen Bird

Group Chief Executive

61,833

Paul Hayes

Group Finance Director

42,507

Martin Green

PDMR

30,197

Marco Pezzana

PDMR

35,823

Matt Danilowicz

PDMR

36,895

Steve Shpock

PDMR

37,870

Jon Bolton

PDMR

23,893

 

Subject to testing of performance conditions, the awards made under the Long Term Incentive Plan will vest following the end of the three year performance period on 21 March 2016. 

 

50% of the award is subject to the Company's Total Shareholder Return ranked against the constituents of the FTSE 250 index (excluding financial services companies and investment trusts).  For median performance in the comparator group there will be 25% vesting and for upper quartile performance there will be full vesting, with a straight line sliding scale between these two points.  None of this part of the award will vest for TSR performance below the median.

 

50% of the award is subject to the growth in the Company's Earnings per Share, excluding significant items.  EPS growth of 6% will be threshold with 25% of this part of the award vesting and EPS growth of 12% plus will result in all of this part of the award vesting, with a straight line sliding scale between these two points.  None of this part of the award will vest for EPS growth lower than 6%.

 

Both performance conditions are independent of one another. 

 

Enquiries:

Jon Bolton

Group Company Secretary

 

020 8332 4600

A Snapshot of The Vitec Group

 

Vitec is an international Group principally serving customers in the Broadcast & Video, Photographic and Military, Aerospace and Government (MAG) markets. Listed on the London Stock Exchange with 2012 revenue of £345.3 million, Vitec is based on strong, well known, premium brands on which its customers worldwide rely. Vitec is organised in three Divisions: Videocom, Imaging and Services.

 

Videocom designs and distributes systems and products used in broadcasting and live entertainment, film and video production and MAG.

 

Imaging designs, manufactures and distributes equipment and accessories for photography and video.

 

Services provides equipment rental, workflow design and technical support to TV production teams and film crews.

 

More information can be found at: www.vitecgroup.com.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Director/PDMR Shareholding - RNS