Last checked at 7 Jul 2021 11:23
ASHTEAD GROUP PLC - Director/PDMR ShareholdingASHTEAD GROUP PLC - Director/PDMR Shareholding
PR Newswire
London, July 7
Ashtead Group plc
7 July 2021
ASHTEAD GROUP PLC
Director / PDMR Shareholding
Ashtead Group plc (the “Company”) announces that on 6 July 2021 it made the annual awards for 2021 to senior executives under its Performance Share Plan (“PSP”).
Awards under the PSP comprise the conditional right to receive ordinary shares of 10p each. Vesting of awards is subject to continued employment and the achievement of challenging performance targets set by the Remuneration Committee. The Company intends to utilise shares held by the Group’s Employee Share Ownership Trust to fulfil any obligations to award shares to employees, which may arise.
For awards made in 2017 and thereafter, executive directors, who were directors at time the awards were made are required to hold any vested shares, after selling sufficient shares to fund their tax liability, for a further two years from the date of vesting.
The following awards were made to the executive directors:
| Director | Number of ordinary 10p shares covered by the award |
| Brendan Horgan | 34,435 |
| Michael Pratt | 20,679 |
The exercise price for the above awards is GBP1 for all ordinary shares to which the award relates. No consideration was paid for the grant of any of these awards.
The Company further announces that 94.7% of the PSP awards made to its executive directors in July 2018 vested on 6 July 2021.
As a result of the vesting of the 2018 awards the directors received the following number of ordinary 10p shares:
| Director | Number of ordinary 10p shares received |
| Brendan Horgan | 63,261 |
| Michael Pratt | 28,347 |
On 6 July Brendan Horgan sold 57,199 ordinary 10p shares at 54.47p per share to fund the tax payable on the vesting of the 2018 PSP award and for other tax planning purposes and Michael Pratt sold 13,323 ordinary 10p shares at 54.16p per share to fund the tax payable on the vesting of 2018 PSP award.
The directors’ total shareholdings are:
| Director | Number of ordinary 10p shares | Percentage of base salary * | Percentage of issued share capital** |
| Brendan Horgan | 440,000 | 3,194 | 0.10 |
| Michael Pratt | 298,691 | 2,889 | 0.07 |
* The percentage of base salary is based on the sterling / dollar exchange rate and share price as at 6 July 2021.
** Excluding treasury shares.
Contact:
Eric Watkins
Tel: 020 7726 9740