Grant under Deferred Annual Bonus Plan

RNS Number : 1942F

Forterra plc

17 March 2022

 

17 March 2022

Forterra plc

Grant under Deferred Annual Bonus Plan

Forterra plc (the "Company") announces that, on 17 March 2022, share option awards over ordinary shares of £0.01 each in the capital of the Company were granted to Executive Directors under the Forterra plc Deferred Annual Bonus Plan ("DABP") as follows:

Name of Director	Number of shares over which the award is granted
Stephen Harrison	84,687
Ben Guyatt	59,715
Total	144,402

These awards represent the deferral into ordinary shares of part of the Executive Directors' 2021 bonus entitlements under the rules of the Scheme. 

No consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.01 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of £2.31 being an average of the closing mid-market share price for the five days commencing on 10 March 2022 being the date of announcing the Company's 2021 results.   

The awards will normally vest on 17 March 2025, subject to the participant being an employee of the Company at that time. Once vested, the award shall normally remain exercisable until the day before the tenth anniversary of the date of grant. Further terms and conditions of the DABP are set out in the Annual Report and Accounts. 

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 (public relations adviser to Forterra):	[phone]
Richard Mountain
Nick Hasell

 

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