Director/PDMR Shareholding

RNS Number : 8146E

Barratt Developments PLC

22 October 2018

 

BARRATT DEVELOPMENTS PLC

(the 'Company')

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

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

On 19 October 2015, David Thomas, Steven Boyes and Jessica White were granted awards under the LTPP.  As explained in the Company's Annual Report and Accounts 2018, the awards to David Thomas and Steven Boyes were subject to different performance criteria to the award granted to Jessica White. Consequently, 76.4% of the award to David Thomas and Steven Boyes and 100% of the award to Jessica White, vested on 19 October 2018 and the net shares following the settlement of any tax and NI due on release (the 'Remaining Shares'), were transferred to them. David Thomas, Steven Boyes and Jessica White sold 76,327, 60,407 and 5,727 shares respectively at £4.97 per share to cover the tax and NI due on release. Steven Boyes subsequently transferred 67,925 shares to Andrea Boyes, a PCA of Steven Boyes. The shares being transferred will still be included when calculating the total shareholding of Steven Boyes and his PCAs.  The Remaining Shares held by David Thomas and Steven Boyes are subject to a further two year holding period which commenced on 1 July 2018.

Vesting of Awards under the Barratt Developments PLC Co-investment Plan (the 'Co-invest')

On 19 October 2015, David Thomas and Steven Boyes were granted awards under the Co-invest in respect of the bonus earned in excess of 100% of salary for the financial year ending 30 June 2015.  This award vested on 19 October 2018 and the net shares, following the settlement of any tax and NI due on release, have been transferred to the participants. David Thomas and Steven Boyes each sold 12,960 shares at £4.97 per share to cover the tax and NI due on release.

Following the vesting of the LTPP and the Co-invest, 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	643,770
Steven Boyes	Chief Operating Officer & Deputy Chief Executive	507,570
Jessica White	Chief Financial Officer	150,041

In addition, the Company confirms that, at the date of this announcement, each of the Directors of the Company, and their persons closely associated, hold the following total number of ordinary shares of 10 pence each in the Company:

Director/PDMR	Role	Number of shares
John Allan	Chairman	66,705
David Thomas	Chief Executive	1,318,891
Steven Boyes	Chief Operating Officer/Deputy Chief Executive	752,352
Jessica White	Chief Financial Officer	49,041
Richard Akers	Non-Executive Director	60,000
Nina Bibby	Non-Executive Director	8,500
Jock Lennox	Non-Executive Director	10,000

The Notification of Dealing Form for the above transactions by David Thomas, Steven Boyes and Jessica White are set out below:

Notification of Dealing Form - Mr 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	Vesting of Shares under the Barratt Developments Long Term Performance Plan
c)	Price(s) and volume(s)	162,154 shares under the Barratt Developments Long Term Performance Plan for no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction N/A - Single transaction
e)	Date of the transaction	19 October 2018
f)	Place of the transaction	London Stock Exchange - XLON
4 .2	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	Vesting of Shares under the Barratt Developments Co-investment Plan
c)	Price(s) and volume(s)	27,531 shares under the Barratt Developments Co-investment Plan for no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction N/A - Single transaction
e)	Date of the transaction	19 October 2018
f)	Place of the transaction	London Stock Exchange - XLON
4 .3	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	Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1 and 4.2.
c)	Price(s) and volume(s)	89,287 shares sold at £4.97 per share
d)	Aggregated information - Aggregated volume - Price	N/A - Single Transaction N/A - Single Transaction
e)	Date of the transaction	19 October 2018
f)	Place of the transaction	London Stock Exchange - XLON

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	Vesting of Shares under the Barratt Developments Long Term Performance Plan
c)	Price(s) and volume(s)	128,332 shares under the Barratt Developments Long Term Performance Plan for no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction N/A - Single transaction
e)	Date of the transaction	19 October 2018
f)	Place of the transaction	London Stock Exchange - XLON
4 .2	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		Vesting of Shares under the Barratt Developments Co-investment Plan
c)	Price(s) and volume(s)		27,531 shares under the Barratt Developments Co-investment Plan for no cost
d)	Aggregated information - Aggregated volume - Price		N/A - Single transaction N/A - Single transaction
e)	Date of the transaction		19 October 2018
f)	Place of the transaction		London Stock Exchange - XLON
4 .3	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		Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1 and 4.2.
c)	Price(s) and volume(s)		73,367 shares sold at £4.97 per share
d)	Aggregated information - Aggregated volume - Price		N/A - Single Transaction N/A - Single Transaction
e)	Date of the transaction		19 October 2018
f)	Place of the transaction		London Stock Exchange - XLON
4.4	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, type of instrument Identification code		Ordinary Shares of 10 pence ISIN: GB0000811801
b)	Nature of the transaction		Transfer for nil consideration of Ordinary Shares to Mrs Andrea Boyes, a PCA of Steven Boyes, Chief Operating Officer and Deputy Chief Executive.
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil 67,925
d)	Aggregated information - Aggregated volume - Price		N/A - Single Transaction
e	Date of the transaction		19 October 2018
f)	Place of the transaction		London Stock Exchange - XLON

Notification of Dealing Form - Mrs Jessica White

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jessica White
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	Vesting of Shares under the Barratt Developments Long Term Performance Plan
c)	Price(s) and volume(s)	12,166 shares under the Barratt Developments Long Term Performance Plan for no cost.
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction N/A - Single transaction
e)	Date of the transaction	19 October 2018
f)	Place of the transaction	London Stock Exchange - XLON
4 .2	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		Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1.
c)	Price(s) and volume(s)		5,727 shares sold at £4.97 per share
d)	Aggregated information - Aggregated volume - Price		N/A - Single Transaction N/A - Single Transaction
e)	Date of the transaction		19 October 2018
f)	Place of the transaction		London Stock Exchange - XLON

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

For further information, please contact:

Tina Bains, Company Secretary              01530 278 278

Date of Notification:                                 22 October 2018

 

END

 

 

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