7 April 2017

Serco Group plc

Legal Entity Identifier: 2138005O9XJIJN4JPN90

INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014

Serco Group plc ('Serco' or 'the Company'), the international service company, advises that, on 6 April 2017, the individuals named below, each a PDMR, were granted options to acquire at nominal cost (with the exception of Ed Casey who has been granted a conditional share award) the following number of ordinary shares of 2p each in the Company (ISIN: GB0007973794), through participation in the Serco Group plc Performance Share Plan ('the PSP'):

Name

Grant Date

Position of PDMR

Maximum number of shares over which options granted

Rupert Soames

6 April 2017

Group Chief Executive

1,504,424

Ed Casey

6 April 2017

Group Chief Operating Officer

1,328,107

Angus Cockburn

6 April 2017

Group Chief Financial Officer

774,336

Liz Benison

6 April 2017

CEO, Local & Regional Government

283,185

Kevin Craven

6 April 2017

CEO, Central Government

353,982

David Greer

6 April 2017

CEO Middle East

305,551

Mark Irwin

6 April 2017

CEO AsPac

350,427

Guy Leach

6 April 2017

Risk & Acquisitions Director

255,000

Geoff Lloyd

6 April 2017

Group HR Director

255,221

David Eveleigh

6 April 2017

Group General Counsel & Company Secretary

256,637

Kate Steadman

6 April 2017

Group Strategy & Communications Director

159,292

The grants of options have been made in London and are based on the closing share price on the London Stock Exchange on 5 April 2017 of 113p per share.

The number of shares that will vest under the PSP is conditional upon the satisfaction of three independent, equally weighted, performance measures as follows:

Performance

Measure

Weighting of

Measure

Performance Target

EPS

1/3

Statutory Earnings Per Share (EPS) before exceptional items (adjusted to reflect tax paid on a cash basis) of 13.5p (threshold, 25% vesting) to 16.5p (maximum, 100% vesting), measured as an aggregate over the three-year performance period ending 31 December 2019.

TSR

1/3

Total Shareholder Return (TSR) of median (threshold, 25% vesting) to upper quartile (maximum, 100% vesting) when ranked relative to companies in the FTSE250 (excluding investment trusts), measured over the three-year performance period ending 31 December 2019.

ROIC

1/3

Pre-tax Return on Invested Capital (ROIC) of 8.4% (threshold, 25% vesting) to 10.2% (maximum, 100% vesting), measured as an average over the three-year performance period ending 31 December 2019.

In exceptional circumstances the Remuneration Committee retains discretion to change performance measures and targets and the weightings attached to performance measures part-way through the performance period if there is a significant event such as a major transaction.

For the Executive Directors, any shares that vest will be subject to a post-vesting holding requirement that takes the total term of the award to a minimum of five years. Post-vesting clawback also applies to the Executive Directors awards. Awards to all participants are subject to pre-vesting malus.

Serco Group plc published this content on 07 April 2017 and is solely responsible for the information contained herein.
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