BAE Systems PLC has announced the exercise of performance shares under the Long Term Incentive Plan (LTIP) by two of its directors. Glynn Phillips, Group Managing Director Maritime and Land, exercised 85,574 performance shares and subsequently sold 40,322 shares to satisfy income tax and NIC liabilities. Thomas Arseneault, President & Chief Executive Officer of BAE Systems Inc, exercised 39,961 performance shares and sold the same amount, including those to satisfy tax liabilities.
The transactions were conducted on 24-03-20 at the XLON - London Stock Exchange. The shares were acquired at a price of £0 and sold at £13.30 and £13.285337 per share, respectively. Phillips retained 45,252 shares, while Arseneault did not specify the number of shares retained.
These transactions reflect the directors' participation in the company's LTIP and their compliance with tax obligations.