Director/PDMR Shareholding

RNS Number : 9679R

Barratt Developments PLC

15 December 2016

 

15 December 2016

Barratt Developments PLC

(the 'Company')

Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs') and persons closely associated ('PCAs') with them

Grant of Awards under the Barratt Developments PLC Long-Term Performance Plan (the 'LTPP')

The Company announces that the following awards were made on 14 December 2016 under the LTPP:

Executive Director	Role	Number of shares awarded
David Thomas	Chief Executive	292,370
Steven Boyes	Chief Operating Officer & Deputy Chief Executive	231,387
Neil Cooper	Chief Financial Officer	190,636

The number of shares over which the awards were granted were calculated based on a per share price of 476.3 pence, being the average of the closing prices, as derived from the London Stock Exchange daily official list, for each of the dealing days in the period of three months ending with the day before the Grant Date.

The awards are subject to the attainment of performance targets based on relative TSR (one-third), absolute EPS (one-third) and ROCE (one-third) measured over a three-year performance period commencing 1 July 2016. The awards are also subject to a two-year holding period commencing from 1 July 2019, being the end of the performance period.

If the performance targets are met, the awards will vest on 14 December 2019, subject to the two-year holding period. No shares will be released to the Executive Directors until such time as any tax and national insurance contributions due on release of the shares has been settled.

Following the above transactions, the Company confirms that at the date of this announcement, each of the Executive Directors holds the following total number of options and awards over Ordinary Shares of 10 pence each in the Company:

Executive Director	Role	Total number of shares under option and/or award
David Thomas	Chief Executive	1,121,319
Steven Boyes	Chief Operating Officer and Deputy Chief Executive	783,455
Neil Cooper	Chief Financial Officer	418,129

The Company also confirms that, at the date of this announcement, each of the PDMRs of the Company, and their PCAs, hold the following total number of ordinary shares of 10 pence each in the Company:

Director/PDMR	Role	Number of shares
John Allan	Chairman	34,205
David Thomas	Chief Executive	1,459,096
Steven Boyes	Chief Operating Officer and Deputy Chief Executive	1,005,868
Neil Cooper	Chief Financial Officer	23,665
Richard Akers	Non-Executive Director	50,000
Tessa Bamford	Non-Executive Director	35,706
Nina Bibby	Non-Executive Director	8,500
Jock Lennox	Non-Executive Director	10,000

The Notification of Dealing Forms for each of the above transactions by the Executive Directors/PDMRs can be found below.

Notification of Dealing - David Thomas

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Thomas
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Barratt Developments PLC
b)	LEI	2138006R85VEOF5YNK29
4 .1	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, type of instrument Identification code	Ordinary Shares of 10 pence ISIN: GB0000811801
b)	Nature of the transaction	Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan
c)	Price(s) and volume(s)	292,370 shares awarded at no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single Transaction
e)	Date of the transaction	14 December 2016
f)	Place of the transaction	Outside a trading venue

Notification of Dealing Form - Mr Steven Boyes

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steven Boyes
2	Reason for the notification
a)	Position/status	Chief Operating Officer and Deputy Chief Executive
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Barratt Developments PLC
b)	LEI	2138006R85VEOF5YNK29
4.1	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, type of instrument Identification code	Ordinary Shares of 10 pence ISIN: GB0000811801
b)	Nature of the transaction	Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan
c)	Price(s) and volume(s)	231,387 shares awarded at no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single Transaction
e)	Date of the transaction	14 December 2016
f)	Place of the transaction	Outside a trading venue

Notification of Dealing Form - Mr Neil Cooper

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Cooper
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Barratt Developments PLC
b)	LEI	2138006R85VEOF5YNK29
4.1	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, type of instrument Identification code	Ordinary Shares of 10 pence ISIN: GB0000811801
b)	Nature of the transaction	Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan
c)	Price(s) and volume(s)	190,636 shares awarded at no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single Transaction
e)	Date of the transaction	14 December 2016
f)	Place of the transaction	Outside a trading venue

This notification is made in accordance with the requirements of the Market Abuse Regulation.

For further information please contact:

Tina Bains

Company Secretary

01530 278278

 

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