Last checked at 30 Apr 2021 13:11
30 April 2021
Forterra plc
Grant under Performance Share Plan
Forterra plc (the "Company") announces that on 30 April 2021 awards over ordinary shares of £0.01 each in the capital of the Company were granted to certain Directors and persons discharging managerial responsibility ("PDMRs") under the Forterra plc Performance Share Plan ("PSP") as follows:
Name of Director / PDMR | Number of Shares over which the PSP Award is granted |
Stephen Harrison (Chief Executive Officer) | 222,112 |
Ben Guyatt (Chief Financial Officer) | 131,356 |
George Stewart (Operations Director) | 40,257 |
Adam Smith (Commercial Director) | 40,257 |
Shahbaz Idriss (HR Director) | 35,593 |
Darren Rix (Managing Director - Bison Flooring) | 30,035 |
Matt Day (IT Director) | 32,767 |
Peter Varnsverry (Strategy Director) | 43,484 |
Ashley Thompson (Company Secretary) | 8,706 |
Other management
| 174,138 |
Total awards granted
| 758,705 |
No consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.01 per Ordinary Share. The number of Ordinary Shares granted under the award has been calculated using a share price of £2.95 being an average mid-market quotation as derived from the London Stock Exchange Daily Official List for the last 5 days of trading.
The vesting of an award is subject to the satisfaction of performance conditions which have been set by the Remuneration Committee of the Board of Directors of the Company. Half of the awards are subject to TSR and EPS performance measures respectively. The awards will normally vest on 30 April 2024, subject to the achievement of the performance conditions and the participant being a director or employee within the Company's group at that time.
Further information regarding the PSP is set out in the Annual Report and Accounts.
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 |
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Ashley Thompson (Company Secretary)
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FTI Consulting (public relations adviser to Forterra): | +44 (0) 20 3727 1340 |
Richard Mountain |
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Nick Hasell |
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Forterra plc
Further information relating to the Company and its group can be found at www.forterraplc.co.uk