Last checked at 10 May 2019 15:08
10 May 2019
Forterra plc
Forterra plc (the "Company")
Director / PDMR Shareholdings
Following the vesting on 26 April 2019 of share options granted to management under the 2016 Performance Share Plan (PSP), the Company was notified on the 9 and 10 May 2019 that on the 8 and 9 May the following exercise and sale transactions took place:
Stephen Harrison, Shatish Dasani, Ben Guyatt and George Stewart exercised options granted under the PSP as laid out below selling sufficient shares to cover the appropriate tax and national insurance liabilities. In addition, George Stewart also exercised options granted under the Deferred Annual Bonus Plan (DABP) which had vested in 2018. Again, sufficient shares were sold to meet the appropriate tax and national insurance liabilities with the balance being retained.
Name | Status | No. of shares exercised | Sale Date | Number of shares sold | Price | Number of shares retained | Beneficial interest | % of ISC | |
PSP | DABP | ||||||||
Stephen Harrison | PDMR | 204,073 | 8/5/19 | 96,252 | £2.883 | 107,821 | 134,532 | < 1% | |
Ben Guyatt | PDMR | 35,712 | 8/5/19 | 16,844 | £2.883 | 18,868 | 24,424 | < 1% | |
George Stewart | PDMR | 24,488 | 17,306 | 8/5/19 | 19,713 | £2.883 | 22,081 | 31,183 | < 1% |
Shatish Dasani | PDMR | 122,443 | 9/5/19 | 57,751 | £2.825 | 64,692 | 177,475 | < 1% | |
The 2016 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 36.9% of the maximum and the TSR performance condition vested at 100% of the maximum. The Remuneration Committee determined that, in accordance with the rules of the scheme, participants would receive dividend equivalent shares at the rate of 0.073294 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 |
Ben Guyatt (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 | Stephen Harrison | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | PDMR (Chief Executive Officer) | ||||||||
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 | 5299007SD2PDQMKM5278 | ||||||||
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 31 May 2016 and vesting on 26 April 2019 | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Ben Guyatt | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | PDMR (Director of Finance and Company Secretary) | ||||||||
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 | 5299007SD2PDQMKM5278 | ||||||||
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 31 May 2016 and vesting on 26 April 2019 | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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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 | 5299007SD2PDQMKM5278 | ||||||||
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 on 31 May 2016 and vesting on 26 April 2019 along with options granted under the DABP granted on 1 June 2016 and vesting on 26 April 2018 | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Shatish Dasani | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | PDMR (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 | Forterra plc | ||||||||
b) | LEI | 5299007SD2PDQMKM5278 | ||||||||
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 on 31 May 2016 and vesting on 26 April 2019 | ||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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