Director/PDMR Shareholding

RNS Number : 3718H

Elementis PLC

05 April 2022

 

5 April 2022

Elementis   plc
('Elementis' or 'the Company') 

Director/PDMR   Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING   MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Elementis plc announces that on 4 April 2022 the following Directors have been granted conditional share awards under the Elementis plc 2018 Long Term Incentive Plan (LTIP) with a vesting date of 4 April 2025 at a cost of nil pence per share.

Name	Title	Number of shares (Performance Share Awards)
Paul Waterman	Chief Executive Officer	1,236,244
RalphHewins	Chief Financial Officer	559,656

The above quantum of awards are as detailed in the 2021 Directors' Remuneration Report and are based on award multiples set at 200% and 175% of salary for both the Chief Executive and Chief Financial Officer respectively.

In addition, the Committee will retain discretion to reduce the number of shares on vesting should it be considered appropriate to do so (e.g. in the event that there was perceived windfall gain).

Subject to the terms of the LTIP plan rules, the above awards will vest and become exercisable from the third anniversary of the grant of the awards subject to continued service and to the extent to which the relevant performance conditions (see below) are satisfied over the three financial years ending 31 December 2024. Shares that vest (post selling any shares required to meet associated tax liabilities) are also subject to a two-year holding requirement.

Performance   conditions

The full performance conditions to apply to the 2022 awards are as follows:

Earnings   per   share   (33% weighting)

EPS	%ofEPSpartvesting
Less than 13 cents	0%
13 cents	0%
17.5 cents	100%

Vesting   will be on a straight-line basis between performance points.

Relative   Total   Shareholder   Return   (33% weighting)

Elementis versus FTSEALLShareConstituents (excluding InvestmentTrusts)	%ofTSRpartvesting
Belowmedian	0%
Median	25%
Upper quartile	100%

Vesting   will be on a straight-line basis between the median and upper quartile.

Operating   Cash   Conversion   (33% weighting)

Three-year OperatingCashConversion	%ofOperating Cash Conversionpartvesting
Less than85%	0%
85%	0%
95%	100%

Vesting   will be on a straight-line basis between performance points.

Vesting based on the above performance conditions will be subject to a return on capital employed underpin. This will require the Committee to consider the vesting result determined based on the application of the EPS, TSR and operating cash conversion performance conditions in light of the return on capital employed achieved during the three year period ending 31 December 2024 relative to the Board's internal plans over the period. If the Committee does not consider the vesting result appropriate in light of the return the underpin enables vesting to be reduced to a more appropriate level.

Set out below are the notifications made in accordance with Article 19 of the EU Market Abuse Regulation.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Na me	PAUL WATERMAN
2	Reaso n for thenotification
a)	Position/status	CEO, DIRECTOR
b)	I nitial notification/Amendment	INITIAL NOTIFICATION
3	Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor
a)	Na me	ELEMENTIS PLC
b)	L E I	549300LQIH685LI2ML36
4	Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted
a)	Descriptio n ofthe financialinstrument,type of instrument I d e ntification code	SHARES GB0002418548
b)	Natureofthetransaction	Grant of a conditional share award over 1,236,244 shares under the Elementis plc 2018 Long Term Incentive Plan with a vesting date of 4 April 2025 at a cost of nil pence per share.
c)	Price(s ) and volume(s)	Price(s) Volume(s) N/A N/A
d)	Aggr e g ate d information
	- Aggr e g a tedvolume - Price	N/A
e )	Dateofthetransaction	2022-04-04
f)	Place ofthetransaction	Outside of a trading venue

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Na me	RALPH HEWINS
2	Reaso n for thenotification
a)	Position/status	CFO, DIRECTOR
b)	I nitial notification/Amendment	INITIAL NOTIFICATION
3	Deta ilsoftheissuer,emissionallowancemarketparticipant,auctionplatform, auctioneer or auction monitor
a)	Na me	ELEMENTIS PLC
b)	L E I	549300LQIH685LI2ML36
4	Deta ilsofthetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument; (ii )eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactions havebeen conducted
a)	Descriptio n ofthe financialinstrument,type of instrument I d e ntification code	SHARES GB0002418548
b)	Natureofthetransaction	Grant of a conditional share award over 559,656 shares under the Elementis plc 2018 Long Term Incentive Plan with a vesting date of 4 April 2025 at a cost of nil pence per share.
c)	Price(s ) and volume(s)	Price(s) Volume(s) N/A N/A
d)	Aggr e g ate d information
	- Aggr e g a tedvolume - Price	N/A
e )	Dateofthetransaction	2022-04-04
f)	Place ofthetransaction	Outside of a trading venue

Person responsible for making this notification: Laura Higgins, Group Company Secretary

 

END

 

 

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