Director/PDMR Shareholding

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:	[phone]
Ashley Thompson (Company Secretary)
FTI Consulting :	[phone]
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 instrument Identification code	Ordinary Shares of 1p each 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) £Nil £2.427 £Nil 7,808 options vesting 3,321 shares sold to settle tax and NI 4,487 shares acquired
d)	Aggregated information	Transaction Price(s) Volume(s) Total  Sale £2.427 3,321 £8,062.48

 

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