Forterra plc Director/PDMR Shareholding (7334K)
January 06 2021 - 2:21AM
UK Regulatory
TIDMFORT
RNS Number : 7334K
Forterra plc
06 January 2021
6 January 2021
Forterra plc
Forterra plc (the "Company")
Director / PDMR Shareholdings
Following the vesting on 1 May 2020 of share options granted to
management under the 2017 Performance Share Plan (PSP), the Company
was notified on the 4 January 2021 that on the 30 December 2020
Matt Day exercised options granted under the PSP for 7,808 shares
and sold 3,321 shares to cover the appropriate tax and national
insurance liabilities. Matt Day now holds a beneficial interest of
4,487 shares in the Company.
The 2017 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 43.57% of the maximum and the TSR performance
condition vested at 90.01%. The Remuneration Committee determined
that, in accordance with the rules of the scheme, participants
would receive dividend equivalent shares at the rate of 1.102917
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
Ashley Thompson (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 Matt Day
2. Reason for the notification
a) Position/status PDMR (IT 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 213800O5DD6ATBVJAD23
4. Details of the transaction(s):
a) Description of the financial instrument, type of Ordinary Shares of 1p each
instrument
Identification code 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 25 April 2017
and vesting on 1 May 2020
c) Price(s) and volume(s) Transaction Price(s) Volume(s)
GBPNil 7,808 options
vesting
GBP2.427
3,321 shares sold
to settle tax
GBPNil and NI
4,487 shares acquired
---------- -----------------------
d) Aggregated information Transaction Price(s) Volume(s) Total
Sale GBP2.427 3,321 GBP8,062.48
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END
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