Directors' and PDMRs' share interests
In 2005 Bodycote plc (`the Company') adopted the Short Term Stock Bonus Plan
(STSBP'). Awards were made in March 2006 shortly after the remuneration
committee had assessed the Company's total shareholder return performance for
2005 and the vesting of the awards was also contingent on the participants
continuing in service with the Company for a three year period after the award
had been made.
The awards have now vested in full for those participants who remained employed
by the Company during the vesting period. The Company therefore announces the
following transactions in relation to Executive Directors and PDMRs.
Director/PDMR Vested Shares sold Net shares
to cover acquired
Shares tax and
social
security
liabilities
John Hubbard Former Chief Executive 69,154 21,085 48,069
David Finance Director 45,748 17,605 28,143
Landless
Derek Sleight Former Corporate Development 34,528 13,454 21,074
Director
Jan Elwart European Thermal Processing PDMR 27,886 - 27,886
Michael UK and Nordic Thermal Processing 31,279 12,038 19,241
Hallas PDMR
Martyn Wilton Global HIP PDMR 35,200 35,200 -
*
Dan McCurdy* North American and Asian 15,202 15,202 -
automotive and commercial
Thermal Processing PDMR
In accordance with the rules of the STSBP, the Company has cash settled certain
awards made to participant Executive Directors and PDMRs tax resident in the US
(marked *).
The Bodycote Incentive Plan (`BIP') is a long term incentive plan approved by
shareholders and adopted by the Company in 2006. Awards have now vested
following the performance targets being met in full. The Company therefore
announces the following transactions in relation to Executive Directors and
PDMRs
Director/PDMR Vested Shares sold Net
to cover tax shares
Shares and social acquired
security
liabilities
John Hubbard Former Chief Executive 219,313 68,665 150,648
David Finance Director 145,083 58,089 86,994
Landless
Derek Sleight Former Corporate Development 108,645 43,500 65,145
Director
Jan Elwart European Thermal Processing PDMR 25,323 13,271 12,052
Michael UK and Nordic Thermal Processing 28,342 13,349 14,993
Hallas PDMR
Shares sold
at 141.5p
each
Martyn Wilton Global HIP PDMR 29,991 29,991 -
Dan McCurdy North American and Asian 8,095 8,095 -
automotive and commercial
Thermal Processing PDMR
On 9 June 2009 PDMR Michael Hallas exercised 42,780 share options granted in
2002 and expiring in September 2009 at 125.76p each and sold 39,414 shares at
150p on the same day sufficient only to cover the costs (e.g. tax, primary and
secondary national insurance) associated with exercising the options.
The share interests of the current executive directors and PDMRs as a
consequence of the listed transaction are now as follows:
Director/PDMR Shares now held
John Hubbard Former Chief Executive 879,410
David Finance Director 153,381
Landless
Jan Elwart European Thermal Processing PDMR 90,576
Michael UK and Nordic Thermal Processing PDMR 183,053
Hallas
Martyn Wilton Global HIP PDMR 50,145
Dan McCurdy North American and Asian automotive and 9,367
commercial Thermal Processing PDMR
The Company also transferred 198,717 ordinary shares out of treasury to John
Hubbard in relation to the awards made to him under the STSBP and BIP. A
further 14,133 ordinary shares were also transferred from treasury to US
employees (who are not executive directors or PDMRs) of the Company who also
received an award under the BIP, and a balance of 6,468 shares were transferred
out of treasury to the Bodycote International Employee Benefit Trust. The
Company now holds no shares in treasury.
26 June 2009