BAE Systems PLC's Managing Director, Simon Barnes, has exercised a significant number of performance shares and options under the BAE Systems Long Term Incentive Plan (LTIP) and subsequently sold a portion of the acquired shares to satisfy tax liabilities. On March 24, 2028, Barnes exercised 27,456 performance shares, selling 20,198 shares, and retaining 7,258. On the same date, he exercised 48,665 restricted shares, selling 35,801 shares, and retaining 12,864. Additionally, Barnes exercised 42,908 options, selling 19,878 shares, and retaining 7,145. All transactions were conducted on the XLON - London Stock Exchange.
The exercise and subsequent sale of shares were carried out at different prices, with the shares sold to satisfy tax liabilities being aggregated at £272,750.903, £483,451.584, and £268,429.67 for the respective transactions. The shares retained were used to settle the cost of exercise, with aggregated prices of £214,497.092 and £214,508.77 for two of the transactions.
These transactions indicate the utilization of the LTIP by a key executive of BAE Systems PLC, reflecting the company's commitment to incentivizing and rewarding its management team.