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19 Mar 2026 16:42
Travis Perkins PLC ("Travis Perkins" or the "Company")
19 March 2026
Grant of Buyout Award
On 19 March 2026 (the "Grant Date") the Company granted an award in the form of a conditional award over a total of 295,441 ordinary shares in the Company to Gavin Slark, the Company's Chief Executive Officer (the "Buyout Award"). The Buyout Award is a standalone award, which reflects three restricted share awards (granted in 2023, 2024 and 2025) forfeited by Mr Slark as a result of him ceasing to be an employee of his previous employer, SIG plc, in order to join Travis Perkins, as agreed as part of his recruitment package.
The Buyout Award is structured in accordance with the principles set out in the Company's approved Directors' Remuneration Policy, in particular that the award is generally granted on a like-for-like basis
and reflecting the delivery mechanism, time horizons and vesting requirements attached to that remuneration. The structure of the Buyout Award reflects what was forfeited by Mr Slark on leaving SIG (and noting the vesting date, explained below). The conversion into Travis Perkins shares on joining provides alignment with Travis Perkins shareholders.
The number of ordinary shares over which the Buyout Award was granted, agreed as part of his appointment, was calculated by reference to the number of SIG plc shares under the awards Mr Slark forfeited and converted to a number of Travis Perkins shares, based on the mid-market closing share price of Travis Perkins and SIG plc on 2 May 2025.
The Buyout Award will vest three years from grant subject to continued employment and following the Remuneration Committee concluding that it does not need to adjust the vesting outcome should the SIG plc Remuneration Committee use its discretion in relation to the applicable performance underpins to lapse part or all of the corresponding restricted share awards.
The Buyout Award will vest three years from grant, as opposed to on the earlier normal vesting dates of each of the SIG restricted share awards that it replaces. This will maximise the alignment between our new Chief Executive Officer and the Company's shareholders.
It is a condition of the Buyout Award that any vested shares (after any are sold to pay any tax liability) will be retained towards meeting the shareholding requirement under the Directors' Remuneration Policy, if necessary.
The exercise of the Buyout Award will not be satisfied with an issue of shares or a transfer of treasury shares.
The Notification of Dealing Form set out below is provided in accordance with the requirements of the UK Market Abuse Regulation.
Enquiries:
Will Lang
Company Secretary
will.lang@travisperkins.co.uk
+44 (0) 7468 713734
Buyout Award
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
(a) | Name | Gavin Slark | ||||
2. | Reason for the notification | |||||
(a) | Position/status | 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 | Travis Perkins plc | ||||
(b) | LEI | 2138001I27OUBAF22K83 | ||||
4. | 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 | Ordinary shares of 11.205105 pence each | ||||
Identification code of the Financial Instrument | ISIN: GB00BK9RKT01 | |||||
(b) | Nature of the transaction | Grant of a conditional award to acquire ordinary shares in the Company in compensation for awards forfeited on leaving former employer | ||||
(c) | Price(s) and volume(s) |
| ||||
(d) | Aggregated information: - Aggregated volume - Price | N/A - single transaction
| ||||
(e) | Date of the transaction | 19 March 2026 | ||||
(f) | Place of the transaction | Outside a trading venue | ||||
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