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On May 28, 2024, Darren Rix, a PDMR of Forterra plc, exercised 27,982 share options that vested on September 17, 2023, under the 2020 Performance Share Plan. He sold 13,198 shares at £1.642 per share to cover tax and National Insurance liabilities, retaining 14,784 shares. The Remuneration Committee waived the 1p per option cost and determined dividend equivalent shares at 0.1437 additional share per vesting share, following a 53.9% TSR performance condition vesting.
| Date | 31 May 2024 |
| Time | 08:12:45 |
| Category | Director/PDMR dealings |
| ID | 6290Q |
31st May 2024
Forterra plc
Forterra plc (the "Company")
Director / PDMR Shareholdings
Following the vesting on 17 September 2023 of share options granted to management under the 2020 Performance Share Plan (PSP), the Company was notified on the 28 May 2024 that on the 28 May 2024 the following exercise and sale transactions took place:
Darren Rix exercised options granted under the PSP as laid out below selling sufficient shares to cover the appropriate tax and national insurance liabilities.
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Name |
Status |
No. of share options exercised |
Sale Date |
Number of shares sold |
Price |
Number of shares retained |
Beneficial interest |
% of ISC |
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Darren Rix |
PDMR |
27,982 |
28/05/24 |
13,198 |
£1.642 |
14,784 |
22,914 |
< 1% |
The 2020 PSP awards were granted with all of the awards subject to an TSR performance condition. The TSR performance condition vested at 53.9%. The Remuneration Committee determined that, in accordance with the rules of the scheme, participants would receive dividend equivalent shares at the rate of 0.1437 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
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Forterra plc: |
+44 (0) 1604 707 600 |
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Frances Tock (Company Secretary) |
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FTI Consulting: |
+44 (0) 20 3727 1340 |
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Richard Mountain/Nick Hasell |
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Further information relating to the Company and its group can be found at www.forterraplc.co.uk.
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Darren Rix |
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2. |
Reason for the notification |
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a) |
Position/status |
PDMR (Director) |
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b) |
Initial notification/Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Forterra plc |
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b) |
LEI |
213800O5DD6ATBVJAD23 |
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4. |
Details of the transaction(s): |
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a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 1p each
GB00BYYW3C20 |
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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 17 September 2020 and vesting on 17 September 2023 |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information
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