Last checked at 30 Sep 2019 10:00
BARRATT DEVELOPMENTS PLC
(the 'Company')
Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs') and persons closely associated ('PCAs') with them
Vesting of Awards under the Barratt Developments PLC Long Term Performance Plan (the 'LTPP')
In 2016, awards of shares were granted under the LTPP to David Thomas, Steven Boyes and Jessica White. The performance period for each of these awards ended on 30 June 2019. As explained in the Company's Annual Report and Accounts 2019, the awards to David Thomas and Steven Boyes were subject to different performance criteria to the award granted to Jessica White. Consequently, 92.8% of the awards to David Thomas and Steven Boyes, and 100% of the award to Jessica White, have vested on 26 September 2019. David Thomas, Steven Boyes and Jessica White sold 127,712, 101,074 and 7,812 shares respectively at £6.315 per share to cover the tax and NI due on release. The remaining shares held by David Thomas and Steven Boyes are subject to a further two year holding period which commenced on 1 July 2019.
Following the vesting of the LTPP the Company confirms that at the date of this announcement, each of the Executive Directors holds the following total number of options and awards over Ordinary Shares of 10 pence each in the Company:
Executive Director | Role | Total number of shares under option and/or award |
David Thomas | Chief Executive | 671,864 |
Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 538,572 |
Jessica White | Chief Financial Officer | 318,363 |
In addition, the Company confirms that, at the date of this announcement, each of the Directors of the Company, and their persons closely associated, hold the following total number of ordinary shares of 10 pence each in the Company:
Director/PDMR | Role | Number of shares |
John Allan | Chairman | 76,705 |
David Thomas | Chief Executive | 966,795 |
Steven Boyes | Chief Operating Officer/Deputy Chief Executive | 866,005 |
Jessica White | Chief Financial Officer | 67,825 |
Richard Akers | Non-Executive Director | 60,000 |
Nina Bibby | Non-Executive Director | 8,500 |
Jock Lennox | Non-Executive Director | 10,000 |
The Notification of Dealing Forms for the above transactions by David Thomas, Steven Boyes and Jessica White are set out below:
Notification of Dealing Form - Mr David Thomas
1
| Details of the person discharging managerial responsibilities / person closely associated
| |
a)
| Name
| David Thomas
|
2 | Reason for the notification
| |
a)
| Position/status
| Chief Executive |
b)
| Initial notification /Amendment
| Initial notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |
a)
| Name
| Barratt Developments PLC |
b)
| LEI
| 2138006R85VEOF5YNK29 |
4 .1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
|
b)
| Nature of the transaction
| Vesting of Shares under the Barratt Developments Long Term Performance Plan
|
c)
| Price(s) and volume(s)
| 271,319 shares under the Barratt Developments Long Term Performance Plan for no cost
|
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single transaction
N/A - Single transaction
|
e)
| Date of the transaction
| 26 September 2019 |
f)
| Place of the transaction
| London Stock Exchange - XLON |
4 .2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
|
b)
| Nature of the transaction
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1 |
c)
| Price(s) and volume(s)
|
127,712 shares sold at £6.315014 per share |
d)
| Aggregated information
- Aggregated volume
- Price |
N/A - Single Transaction
N/A - Single Transaction
|
e)
| Date of the transaction
| 26 September 2019 |
f)
| Place of the transaction
| London Stock Exchange - XLON |
Notification of Dealing Form - Mr Steven Boyes
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a)
| Name
| Steven Boyes
| |
2 | Reason for the notification
| ||
a)
| Position/status
| Chief Operating Officer and Deputy Chief Executive | |
b)
| Initial notification /Amendment
| Initial notification | |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
a)
| Name
| Barratt Developments PLC | |
b)
| LEI
| 2138006R85VEOF5YNK29 | |
4.1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Vesting of Shares under the Barratt Developments Long Term Performance Plan | |
c)
| Price(s) and volume(s)
| 214,727 shares under the Barratt Developments Long Term Performance Plan for no cost
| |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single transaction
N/A - Single transaction | |
e)
| Date of the transaction
| 26 September 2019 | |
f) | Place of the transaction | London Stock Exchange - XLON
| |
4 .2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1. | |
c)
| Price(s) and volume(s)
|
101,074 shares sold at £6.315014 per share | |
d)
| Aggregated information
- Aggregated volume
- Price |
N/A - Single Transaction
N/A - Single Transaction
| |
e)
| Date of the transaction
| 26 September 2019 | |
f)
| Place of the transaction
| London Stock Exchange - XLON | |
Notification of Dealing Form - Mrs Jessica White
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a)
| Name
| Jessica White
| |
2 | Reason for the notification
| ||
a)
| Position/status
| Chief Financial Officer | |
b)
| Initial notification /Amendment
| Initial notification | |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
a)
| Name
| Barratt Developments PLC | |
b)
| LEI
| 2138006R85VEOF5YNK29 | |
4.1
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Vesting of Shares under the Barratt Developments Long Term Performance Plan | |
c)
| Price(s) and volume(s)
| 16,596 shares under the Barratt Developments Long Term Performance Plan for no cost.
| |
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single transaction
N/A - Single transaction | |
e)
| Date of the transaction
| 26 September 2019 | |
f) | Place of the transaction | London Stock Exchange - XLON
| |
4 .2
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 10 pence
ISIN: GB0000811801
| |
b)
| Nature of the transaction
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1. | |
c)
| Price(s) and volume(s)
|
7,812 shares sold at £6.315014 per share | |
d)
| Aggregated information
- Aggregated volume
- Price |
N/A - Single Transaction
N/A - Single Transaction
| |
e)
| Date of the transaction
| 26 September 2019 | |
f)
| Place of the transaction
| London Stock Exchange - XLON | |
This notification is made in accordance with the requirements of the EU Market Abuse Regulation.
For further information, please contact:
Tina Bains, Company Secretary 01530 278 278
Date of Notification: 30 September 2019