Forterra plc Director/PDMR Shareholding
09 April 2024 - 5:19PM
RNS Regulatory News
RNS Number : 9105J
Forterra plc
09 April 2024
9th April 2024
Forterra plc
Forterra plc (the "Company")
Director / PDMR Shareholdings
Following the vesting on 17
September 2023 of share options granted to management under the
2020 Performance Share Plan (PSP), the Company was notified on the
8th April 2024 that on the 5th April 2024 the following
exercise and sale transactions took place:
George Stewart exercised options
granted under the PSP as laid out below selling sufficient shares
to cover the appropriate tax and national insurance
liabilities.
|
Name
|
Status
|
No. of share options
exercised
|
Sale Date
|
Number of shares sold
|
Price
|
Number of shares retained
|
Beneficial interest
|
% of ISC
|
|
|
|
George Stewart
|
PDMR
|
35,617
|
5/4/24
|
16,799
|
£1.589620
|
18,818
|
81,541
|
< 1%
|
The 2020 PSP awards were granted
with all of the awards subject to an TSR performance condition. The
TSR performance condition vested at 53.9%. The Remuneration
Committee determined that, in accordance with the rules of the
scheme, participants would receive dividend equivalent shares at
the rate of 0.1437 additional share for every vesting share.
The Remuneration Committee also agreed to waive the 1p per option
cost upon exercise.
The shares to be retained by
management are to be transferred to management by the Employee
Benefit Trust.
The above notification is intended
to satisfy the Company's obligations under Article 19 of the Market
Abuse Regulations.
Enquiries
|
Forterra plc:
|
+44 (0) 1604 707 600
|
|
Frances Tock (Company
Secretary)
|
|
|
|
|
|
FTI
Consulting:
|
+44 (0) 20 3727 1340
|
|
Richard Mountain/Nick
Hasell
|
|
Further information relating to the
Company and its group can be found at www.forterraplc.co.uk.
|
1.
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
George Stewart
|
|
2.
|
Reason for the notification
|
|
a)
|
Position/status
|
PDMR (Director)
|
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Forterra plc
|
|
b)
|
LEI
|
213800O5DD6ATBVJAD23
|
|
4.
|
Details of the transaction(s):
|
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
Ordinary Shares of 1p each
GB00BYYW3C20
|
|
b)
|
Nature of the transaction
|
Acquisition of shares for no consideration
pursuant to the exercise of nominal cost options (with the 1p
option cost waived by the Company) granted under the PSP scheme on
17 September 2020 and vesting on 17 September 2023
|
|
c)
|
Price(s) and volume(s)
|
|
Transaction
|
Price(s)
|
Volume(s)
|
|
|
£Nil
£1.589620
£Nil
|
35,617 options vesting
16,799 shares sold to settle tax and
NI
18,818 shares acquired
|
|
|
d)
|
Aggregated information
|
|
Transaction
|
Price(s)
|
Volume(s)
|
Total
|
|
Sale
|
£1.589620
|
16,799
|
£26,704.0335,617
|
|
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