Director/PDMR Shareholding

RNS Number : 5402T

Forterra plc

25 March 2021

 

25 March 2021

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 24 March 2021 that on the 23 March 2021 the following exercise and sale transactions took place:

George Stewart, Operations Director exercised options granted under the PSP as laid out below selling sufficient shares to cover the appropriate tax and national insurance liabilities.

Name	Status	No. of shares exercised	Sale Date	Number of shares sold	Price	Number of shares retained	Beneficial interest	% of ISC
George Stewart	PDMR	24,677	23/03/21	11,704	£2.71	12,973	52,593	< 1%

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	George Stewart
2.	Reason for the notification
a)	Position/status	PDMR (Operations 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 £2.71 £Nil 24,677 options vesting 11,704 shares sold to settle tax and NI 12,973 shares acquired
d)	Aggregated information	Transaction Price(s) Volume(s) Total  Sale £2.71 11,704 £31,717.84

 

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