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Trinity Mirror PLC  -  TNI   

Director/PDMR Shareholding

Released 10:37 31-Jul-2014

RNS Number : 8647N
Trinity Mirror PLC
31 July 2014
 



Trinity Mirror plc

31 July 2014

 

Notification of Transactions of Directors/Persons Discharging

Managerial Responsibility and Connected Persons

 

In accordance with DTR 3.1.4.R, on 30 July 2014, Trinity Mirror plc (the "Company") was notified by the Trustees of the Trinity Mirror Deferred Award Share Plan (the "DSA Plan") and of the Trinity Mirror Long Term Incentive Plan ("the LTIP) of the following changes in two directors' interests in the Company's ordinary shares (the "Shares") arising out of the operation of the DSA Plan and the LTIP.

 

The awards of Shares under the DSA Plan, which represent deferred bonus relating to 2010 performance, were granted on 31 March 2011.

 

At the election of each recipient, shares may be released under the DSA Plan at nil cost to the recipient within a period of six months from the third anniversary of grant.

 

The awards of Shares under the LTIP were made on 31 March 2011. The performance period for the LTIP awards ended on 31 December 2013. Vesting of the awards was dependent on the Company's Total Shareholder Return ("TSR") performance compared to a group of 14 other media companies over a three-year performance period.

 

Over the performance period, the Company's TSR ranked 6th out of the 15 companies which would ordinarily have warranted 65% vesting. The Remuneration Committee of the Board of the Company considered the Company's performance over this period more broadly and decided to reduce the formulaic vesting by 20%.

 

At the election of each recipient, vesting shares may be released under the LTIP at nil cost to the recipient within a period of six months from the third anniversary of grant

 

The Company has instructed the Trustees to sell sufficient shares to satisfy each director's PAYE and National Insurance liabilities. The directors have retained the balance of shares released.

 

As a result of the above, the following transactions are disclosed:

 

Director: Vijay Vaghela

 


Shares released from the Trust

Shares sold at

£1.99 to satisfy

tax and NI liabilities

Shares retained

DSA Plan Shares

262,095

123,432

138,663

LTIP Shares

170,362

80,231

90,131

 

The director's shareholding is as follows:

 


Total beneficial holding following this notification

Total holding as a percentage of shares in issue

Vijay Vaghela

474,546*

0.184%

 

*Including 21,673 shares held in the Company's Restricted Share Plan.

 

 

Director: Paul Vickers

 


Shares released from the Trust

Shares sold at

£1.99 to satisfy

tax and NI liabilities

Shares retained

DSA Plan Shares

171,429

80,733

90,696

LTIP Shares

148,571

69,969

78,602

 

The director's shareholding is as follows:

 


Total beneficial holding following this notification

Total holding as a percentage of shares in issue

Paul Vickers

353,426*

0.137%

 

*Including 18,901 shares held in the Company's Restricted Share Plan.

 

 

As at 31 July 2014, the Company's issued share capital stands at 257,690,520 ordinary shares of 10p each.

 

 

 

Paul Vickers

Company Secretary

 

 


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