Last checked at 25 Mar 2021 14:41
25 March 2021
Forterra plc (the "Company")
Director / PDMR Shareholdings
Following the vesting on 1 May 2020 of share options granted to management under the 2017 Performance Share Plan (PSP), the Company was notified on the 24 March 2021 that on the 23 March 2021 the following exercise and sale transactions took place:
George Stewart, Operations Director 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 shares exercised | Sale Date | Number of shares sold | Price | Number of shares retained | Beneficial interest | % of ISC
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George Stewart | PDMR | 24,677 | 23/03/21 | 11,704 | £2.71 | 12,973 | 52,593 | < 1% |
The 2017 PSP awards were granted with half of the awards subject to an EPS performance condition and the other half of the awards subject to a TSR performance condition. The EPS performance condition vested at 43.57% of the maximum and the TSR performance condition vested at 90.01%. The Remuneration Committee determined that, in accordance with the rules of the scheme, participants would receive dividend equivalent shares at the rate of 1.102917 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 |
Ashley Thompson (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 (Operations 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 25 April 2017 and vesting on 1 May 2020 | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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