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International Consolidated Airlines Group, S.A. (the “Company” or “IAG”) discloses the following information regarding certain of its share plans.
Performance Share Plan (“PSP”) 2011-2013
In accordance with the PSP rules, the share awards granted in March 2011 were tested for the performance period January 2011 to 31 December 2013. Thirty per cent of the award was linked to the Company’s synergy targets and seventy per cent subject to a Total Shareholder Return (TSR) performance condition measured against a group of comparator airlines. The outcome of these performance conditions was that 100 per cent of the award has vested.
In accordance with the above, the Executive Directors and Persons Discharging Managerial Responsibilities (“PDMRs”) of the Company who were beneficiaries of this plan have received an award of shares as follows:
The PSP is more fully described in the IAG Annual Report and Annual Accounts for the period ending 31 December 2013 which can be accessed online at IAG´s website: www.iagshares.com.
Incentive Award Deferral Plan (“IADP”) 2011
In accordance with IAG’s remuneration policy, half of any annual incentive award is paid in deferred shares in the Company which vest after three years. Under the IADP, Executive Directors and PDMRs of the Company who were awarded deferred shares in 2011 have received their award as follows:
Under the IAG IADP, no other performance conditions apply because it is based on performance conditions already delivered in 2010.
The IAG IADP 2011 is more fully described in the IAG Annual Report and Annual Accounts for the period ending 31 December 2013 which can be accessed online at IAG´s website: www.iagshares.com.
British Airways Share Option and Long Term Incentive Plans 2004 and 2005
Dealings in Shares
Following the above vestings and exercises the following Executive Directors and PDMRs each sold ordinary shares of 0.50 euro in the Capital of the Company on the London Stock Exchange on 3 April 2014 as set out in the table below:
4 April 2014