Last checked at 15 Aug 2019 16:00
Travis Perkins (TPK) Travis Perkins: Director/PDMR Shareholding 15-Aug-2019 / 16:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Travis Perkins plc ("the Company") was notified on 14 August 2019 of the purchase on 13 August 2019 by the persons named below of ordinary shares of 10p each in the Company ("Investment Shares"), under the Travis Perkins Co Investment Plan, at a price of £12.04. Matching Awards in relation to the Investment Shares purchased were granted in the form of nil cost options over the number of shares set out below on 14 August 2019. Matching Awards will vest on 14 August 2022 subject to satisfaction of performance conditions as set out in the Company's 2018 Annual Report and Accounts. To the extent that the Matching Awards vest, they will be exercisable until the tenth anniversary of the grant date.
In the event that dividends are paid in the period between grant and vesting, the number of shares awarded will be increased to reflect the dividends that would have accrued had they been reinvested in shares. The Company was further notified that on 14 March 2019, the following awards in respect of ordinary shares of 10p each in the Company ("shares") were made by way of nil cost option under the Travis Perkins Plc 2017 Performance Share Plan ("PSP") to the persons named below. The number of shares subject to the options awarded has been calculated using a share price of £12.05 (the mid-market closing price on the day prior to the award).
The options over these shares will normally vest on 14 August 2022, subject to the satisfaction of performance conditions and will normally be exercisable from 14 August 2024 after the completion of a two year holding period following vesting. If the options vest they will be exercisable until the tenth anniversary of the grant date.
In the event that dividends are paid in the period between grant and the end of the holding period, the number of shares awarded will be increased to reflect the dividends that would have accrued had they been reinvested in shares.
On the same date Nick Roberts was also awarded 2,489 market value options under the HMRC tax advantaged CSOP element of the PSP with a face value of £29,992.45 and an exercise price of £12.05 (the mid-market closing price on the day prior to the award). This award is subject to the same performance conditions as the PSP award. If the options vest they will be available until the tenth anniversary of the grant date. Nick Roberts forfeited outstanding incentives on leaving his former employer and the Remuneration Committee determined that it was appropriate to "buy out" these incentives. The buy-out awards have been structured as far as possible to be a like-for-like basis with awards forfeited in accordance with our remuneration policy. The following awards were granted in the form of nil cost options to Nick Roberts under the Travis Perkins plc 2017 Performance Share Plan ("PSP"). Unconditional Award over 14,522 ordinary shares of 10p each in the Company of which 4,066 shares will vest on 30 August 2020; and the balance of 10,456 will vest on 30 August 2021. Conditional Award over 39,502 ordinary shares of 10p each in the Company which will vest on 14 August 2022, subject to the satisfaction of performance conditions.
The number of shares subject to the options awarded has been calculated using the mid-market closing price on 13 August 2019 of £12.05.
In the event that dividends are paid in the period between grant and vesting, the number of shares awarded will be increased to reflect the dividends that would have accrued had they been reinvested in shares. The Notification of Dealing Forms for these transactions can be found below.
For further information please contact:
Helen O'Keefe Deputy Company Secretary +44 (0)1604 685910
Notification of Dealing Form
Notification of Dealing Form
Notification of Dealing Form
Notification of Dealing Form
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| ISIN: | GB0007739609 |
| Category Code: | DSH |
| TIDM: | TPK |
| LEI Code: | 2138001I27OUBAF22K83 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 16944 |
| EQS News ID: | 858415 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.