10441
RNS Number : 8558H
Trinity Mirror PLC
22 May 2014
 



Trinity Mirror plc

22 May 2014

 

Notification of Transactions of Directors/Persons Discharging

Managerial Responsibility and Connected Persons

 

In accordance with DTR 3.1.4.R, on 22 May 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 a director's 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 the director's PAYE and National Insurance liabilities. The director has retained the balance of shares released.

 

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

 

Director: Mark Hollinshead

 


Shares released from the Trust

Shares sold at

£1.528 to satisfy

tax and NI liabilities

Shares retained

DSA Plan Shares

130,000

61,223

68,777

LTIP Shares

85,841

40,427

45,414

 

The director's shareholding is as follows:

 


Total beneficial holding following this notification

Total holding as a percentage of shares in issue

Mark Hollinshead

183,878*

0.071%

 

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

 

As at 22 May 2014, the Company's issued share capital stands at 257,690,520 ordinary shares of 10p each.

 

 

 

Paul Vickers

Company Secretary

 

 


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