Director/PDMR Shareholding

Barratt Developments PLC

21 December 2023

 

BARRATT DEVELOPMENTS PLC

(the 'Company')

Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs') and persons closely associated ('PCAs') with them

Grant of Awards under the Barratt Developments PLC Long-Term Performance Plan (the 'LTPP')

The Company announces that the following awards were made to the Executive Directors on 21 December 2023 under the LTPP:

Executive Director	Role	Number of shares under award
David Thomas	Chief Executive	390,914
Steven Boyes	Chief Operating Officer & Deputy Chief Executive	315,329
Mike Scott	Chief Financial Officer	240,563

The number of shares over which the awards were granted were calculated based on a price of £4.2748 per share, being the average of the closing prices, as derived from the London Stock Exchange daily official list, for each of the dealing days in the period of three months ending with the day before the Grant Date (excluding any dealing days that fall within any period when dealing restrictions apply).

The awards are subject to the attainment of performance targets based on TSR (30%), Adjusted EPS (15%), Underlying ROCE (40%) and reduction of Greenhouse Gas Emissions (15%), measured over a three-year performance period commencing 1 July 2023. The non-financial targets (TSR and reduction of Greenhouse Gas Emissions) were disclosed in the 2023 Remuneration Report. The Remuneration Committee intends to determine and communicate the financial targets (Adjusted EPS and Underlying ROCE) as soon as possible and no later than the end of March 2024. This is consistent with the approach undertaken by the Remuneration Committee in 2020/21 in light of the market uncertainty caused by COVID-19. The awards are also subject to a two-year holding period commencing from 19 October 2026, being the date of vesting of these awards. No shares will be released to the Executive Directors until such time as any tax and national insurance contributions due on release of the shares has been settled. These shares will accrue a dividend equivalent between the date of grant and the date on which the awards vest.

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	Role	Total number of shares under option and/or award
David Thomas	Chief Executive	1,069,173
Steven Boyes	Chief Operating Officer & Deputy Chief Executive	863,373
Mike Scott	Chief Financial Officer	551,789

The Notification of Dealing Forms for the above transactions by David Thomas, Steven Boyes and Mike Scott respectively are set out below:

Notification of Dealing Form - David Thomas

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Thomas
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Barratt Developments PLC
b)	LEI	2138006R85VEOF5YNK29
4.1	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 Identification code	Ordinary Shares of 10 pence ISIN: GB0000811801
b)	Nature of the transaction	Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan
c)	Price(s) and volume(s)	390,914 shares awarded at no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single Transaction
e)	Date of the transaction	21 December 2023
f)	Place of the transaction	Outside a trading venue

Notification of Dealing Form - Steven Boyes

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steven Boyes
2	Reason for the notification
a)	Position/status	Chief Operating Officer and Deputy Chief Executive
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Barratt Developments PLC
b)	LEI	2138006R85VEOF5YNK29
4.1	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 Identification code	Ordinary Shares of 10 pence ISIN: GB0000811801
b)	Nature of the transaction	Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan
c)	Price(s) and volume(s)	315,329 shares awarded at no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single Transaction
e)	Date of the transaction	21 December 2023
f)	Place of the transaction	Outside a trading venue

Notification of Dealing Form - Mike Scott

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mike Scott
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	Barratt Developments PLC
b)	LEI	2138006R85VEOF5YNK29
4.1	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 Identification code	Ordinary Shares of 10 pence ISIN: GB0000811801
b)	Nature of the transaction	Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan
c)	Price(s) and volume(s)	240,563 shares awarded at no cost
d)	Aggregated information - Aggregated volume - Price	N/A - Single Transaction
e)	Date of the transaction	21 December 2023
f)	Place of the transaction	Outside a trading venue

This notification is made in accordance with the requirements of the UK Market Abuse Regulation.

For further information, please contact:

Tina Bains, Company Secretary              07702 676380

Date of Notification:                              21 December 2023

 

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