Director/PDMR Shareholding

RNS Number : 9084J

Barratt Developments PLC

22 December 2015

BARRATT DEVELOPMENTS PLC

NOTIFICATION OF TRANSACTION BY AN EXECUTIVE DIRECTOR

Grant of share awards to Neil Cooper, Chief Financial Officer

Barratt Developments PLC (the "Company") announces that in accordance with the requirements of D.T.R. 3.1.2R, the Company was notified on 21 December 2015 that Neil Cooper, who joined the Company as Chief Financial Officer on 23 November 2015, was granted the following share awards on 21 December 2015 in London:

Conditional LTPP award

A conditional award over 122,440 shares under the Company's Long-Term Performance Plan (the 'LTPP Award'). The LTPP Award was granted on the same terms as those made to the other Executive Directors in October 2015, in particular:

(i) the number of shares over which the award was granted was calculated based on a per share price of 637 pence;

(ii) the LTPP Award will be subject to the attainment of performance targets based on relative TSR (one-third), absolute EPS (one-third) and ROCE (one-third) measured over a three-year performance period commencing 1 July 2015. The award is also subject to a two-year holding period commencing from 1 July 2018, being the end of the performance period.

If the performance targets are met, the awards will vest on 19 October 2018, subject to the two-year holding period. No shares will be released to Neil until such time as any tax and national insurance contributions due on release of the shares has been settled.

Options to acquire shares

In addition, Neil was awarded options to acquire a total of 121,880 ordinary shares in the Company, at an exercise price of 10p per Share (the "Options"). These have been structured to, amongst other things, replace those awards Neil has left behind at his previous employer, William Hill, and are in accordance with the Company's Remuneration Policy.

45,705 of these shares are subject to the attainment of the same performance conditions as those applicable to the awards granted to the other Executive Directors under the LTPP in October 2013 namely relative TSR (50%) and EPS (50%). The performance conditions will be measured over a three year period from 1 July 2013 to 30 June 2016 and will vest on 23 October 2016.

The remaining 76,175 shares are subject to the attainment of the same performance conditions as the LTPP award in October 2014, one-third TSR, one-third EPS and one-third ROCE. These performance conditions will be measured over a three year period from 1 July 2014 to 30 June 2017 and will vest on 20 October 2017. These shares will also be subject to a two-year holding period commencing 1 July 2017, being the end of the relevant performance period.

If performance conditions are met, both options must be exercised within two weeks of the relevant vesting date. No shares will be released to Neil until such time as any tax and national insurance contributions due on release of the shares has been settled.

Following the above transactions, 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	Total number of shares under option and/or award	Percentage of Issued Share Capital
David Thomas	1,103,052	0.1101
Steven Boyes	838,272	0.0836
Neil Cooper	244,320	0.0244

The Company further confirms that, following the above transactions, each of the Directors/PDMRs of the Company, and their connected persons, hold the following total number of shares of 10 pence each in the Company:

Director/PDMR	Role	Total number of shares beneficially owned	Percentage of Issued Share Capital
John Allan	Chairman	3,102	0.0003
David Thomas	Chief Executive	1,276,328	0.1273
Steven Boyes	Chief Operating Officer	827,498	0.0826
Mark Rolfe	Senior Independent Director	74,291	0.0074
Richard Akers	Non-Executive Director	40,000	0.0040
Tessa Bamford	Non-Executive Director	33,661	0.0034
Nina Bibby	Non-Executive Director	8,500	0.0008
Tom Keevil	Group General Counsel and Company Secretary	175,079	0.0175