Director/PDMR Shareholding

RNS Number : 6458T

Ibstock PLC

26 March 2021

 

26 March 2021

Ibstock plc (the "Company")

Grant of Awards under the Ibstock plc Long Term Incentive Plan

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that it granted an award ("LTIP Award") over Ibstock plc ordinary shares of 1 penny each ("Ordinary Shares") on 25 March 2021 to PDMRs in accordance with the rules of the Ibstock plc Long Term Incentive Plan.

Name	Status	Number of Ordinary Shares under LTIP Award	Option Price
Joseph Hudson	Chief Executive Officer	317,888	£Nil
Christopher McLeish	Chief Financial Officer	213,886	£Nil

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 214.6 pence per share (the closing share price on 24 March 2021).

The normal vesting date of the LTIP Awards will be 25 March 2024, being the third anniversary of the award date.

Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date.  A two-year holding period will apply to these awards, which commences on vesting.  

The LTIP Awards will normally vest after 3 years based on the satisfaction of the following performance conditions: -

i.	40% on relative TSR against the FTSE 250 construction and building materials companies: Median performance (threshold); upper quartile performance (maximum);
ii.	30% on absolute Adjusted EPS: 16p EPS (threshold); 19.6p EPS (maximum);
iii.	20% on average annual Return On Capital Employed ("ROCE"): 15.77% p.a. (threshold); 17.43% p.a. (maximum); and
iv.	10% on the reduction of CO2 per tonne of finished production: 0.152 (threshold); 0.142 maximum.

25% of the LTIP Award will vest for threshold performance under  all  measures, with straight line vesting in between to full vesting for the achievement of maximum performance.

The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Joseph Hudson
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ibstock plc
b)	LEI	2138003QHTNX34CN9V93
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	Ordinary shares of 1p each
	Identification code	GB00BYXJC278
b)	Nature of the transaction	Grant of awards under the Ibstock plc Long Term Incentive Plan
c)	Price(s) and volume(s)		317,888
			Nil
d)	Aggregated information
	- Aggregated volume	317,888
	- Price	Nil
e)	Date of the transaction	2021-03-25
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Christopher McLeish
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	Ibstock plc
b)	LEI	2138003QHTNX34CN9V93
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	Ordinary shares of 1p each
	Identification code	GB00BYXJC278
b)	Nature of the transaction	Grant of awards under the Ibstock plc Long Term Incentive Plan
c)	Price(s) and volume(s)		213,886
			Nil
d)	Aggregated information
	- Aggregated volume	213,886
	- Price	Nil
e)	Date of the transaction	2021-03-25
f)	Place of the transaction	Outside a trading venue

Nick Giles

Group Company Secretary

07796 132222

 

END

 

 

DSHKZGZFLVMGMZG