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Rio Tinto - Director/PDMR Shareholding

RNS Number : 6511G
Rio Tinto PLC
18 March 2020
 

 

Shareholdings of persons discharging managerial responsibility (PDMR)  

 

18 March 2020

 

As part of its dual listed company structure, Rio Tinto notifies dealings in Rio Tinto plc and Rio Tinto Limited securities by PDMRs to both the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE).

 

Rio Tinto Equity Incentive Plan 2018 (EIP)

Bonus Deferral Awards and Performance Share Awards

 

The Remuneration Committee has approved a 50% deferral of the 2019 annual bonus for members of the Executive Committee to be delivered as a Bonus Deferral Award (BDA). Grants of BDA are made under the EIP over either Rio Tinto plc shares or Rio Tinto Limited shares (shares). The number of shares granted as a BDA was calculated using the five day average price of shares up to 13 March 2020. These awards will vest on the basis of service at 1 December 2022.

 

Performance Share Awards (PSA) are granted under the EIP and provides participants with the conditional right, subject to performance conditions being met, to receive shares. The number of shares comprised in the PSA is determined using the average share price for the year immediately preceding the commencement of the relevant performance period. As advised in the Rio Tinto 2019 Annual report, published on 27 February 2020, these values are £43.43 in the case of Rio Tinto plc shares and A$94.22 in the case of Rio Tinto Limited shares. The awards granted in 2020 will be measured against the Total Shareholder Return performance conditions after five years (as at the end of 2024). The level of PSA granted is as advised on page 123 (Jean-Sébastien Jacques and Jakob Stausholm) and 127 (all others named below) of the 2019 Annual report.

 

The following PDMRs were awarded the following share awards on 16 March 2020:

 


Rio Tinto plc

Rio Tinto Limited

PDMR

No. of shares awarded as BDA (calculated using a price of £32.43

per share)

No. of shares awarded as PSA (calculated using a price of £43.43

per share)

No. of shares awarded as BDA (calculated using a price of  A$81.11 per share)

No. of shares awarded as PSA (calculated using a price of A$94.22 per share)

Baatar, Bold

9,329

53,272

-

-

Barrios, Alfredo

8,724

53,236

-

-

Jacques, Jean-Sébastien

26,234

115,049

-

-

Salisbury, Christopher

-

-

6,819

41,989

Soirat, Arnaud

10,920

53,272

-

-

Stausholm, Jakob

13,454

74,711

-

-

Trott, Simon

9,615

52,838

-

-

 

FCA notifications in accordance with the EU Market Abuse Regulation have been issued to the London Stock Exchange contemporaneously with this release.

 

LEI: 213800YOEO5OQ72G2R82
Classification: 3.1. Information disclosed under article 19 of the Market Abuse Regulation

 

This announcement is authorised for release to the market by Rio Tinto's Group Company Secretary.

 

Steve Allen

Group Company Secretary                                

 

Tim Paine

Joint Company Secretary

Rio Tinto plc

6 St James's Square

London

SW1Y 4AD

 

T +44 20 7781 2058

Registered in England

No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street

Melbourne 3000

Australia

 

T +61 3 9283 3333

Registered in Australia

ABN 96 004 458 404

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Rio Tinto plc

Price: 4481.5

Market: LSE
Market Cap: £558.6 m
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