Director/PDMR Shareholding

RNS Number : 0833W

ITM Power PLC

17 December 2021

 

17 December 2021

ITM Power PLC

Grants under Long Term Incentive Plan and Acquisition of Shares by way of Inheritance

ITM Power PLC (the "Company") announces that on 16 December 2021 awards over ordinary shares of £0.05 each in the capital of the Company were granted to all staff under the ITM Power PLC Long Term Incentive Plan ("LTIP").

No consideration is payable for the grant of the awards, which are structured as nominal cost options at an option exercise price of £0.05 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of 394 pence, being the average mid-market quotation as derived from AIM for the last 5 days of trading prior to close on 15 December 2021.

The awards are subject to a three-year vesting period (and for the Executive Directors a further two-year holding period), as well as to the achievement of performance conditions and the participant being a director or employee within the Company's group at that time.

The LTIP awards granted to Executive Directors (who are Persons Discharging Managerial Responsibilities) are as follows:

Name of Director/PDMR	Number of Shares over which the LTIP Award is granted
Graham Cooley	121,310
Andrew Allen	86,650
Simon Bourne	86,650
Rachel Smith	66,431
Total awards granted	361,041

The vesting of an award is subject to the satisfaction of performance conditions which have been set by the Remuneration Committee of the Board of Directors of the Company. 60% of the award is subject to the growth in the Company's total shareholder return, 20% subject to the Company's MSCI ESG rating and the remaining 20% subject to stretching financial metrics related to revenue and gross margin performance.

The Company also announces that on 16 December 2021 Rachel Smith received 379,880 ordinary shares of £0.05 each in the capital of the Company by way of inheritance.

The notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.

Enquiries:

ITM Power PLC	[phone]
Helen Baker (Company Secretary) James Collins (Investor Relations)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Graham Cooley
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	ITM Power PLC
b)	LEI	21380042MB2JKZ6RRP12
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	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Issue of nominal cost options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	121,310
d)	Aggregated information
	- Aggregated volume	121,310
	- Price	Nil
e)	Date of the transaction	2021-12-16
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Allen
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	ITM Power PLC
b)	LEI	21380042MB2JKZ6RRP12
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	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Issue of nominal cost options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	86,650
d)	Aggregated information
	- Aggregated volume	86,650
	- Price	Nil
e)	Date of the transaction	2021-12-16
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Bourne
2	Reason for the notification
a)	Position/status	Chief Technical Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ITM Power PLC
b)	LEI	21380042MB2JKZ6RRP12
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	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Issue of nominal cost options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	86,650
d)	Aggregated information
	- Aggregated volume	86,650
	- Price	Nil
e)	Date of the transaction	2021-12-16
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rachel Smith
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ITM Power PLC
b)	LEI	21380042MB2JKZ6RRP12
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	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Issue of nominal cost options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	66,431
d)	Aggregated information
	- Aggregated volume	66,431
	- Price	Nil
e)	Date of the transaction	2021-12-16
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rachel Smith
2.	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ITM Power PLC
b)	LEI	21380042MB2JKZ6RRP12
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 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Acquisition of shares by way of inheritance
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil (transfer from estate)	379,880
d)	Aggregated information
	- Aggregated volume	379,880
	- Price	Nil (transfer from estate)
e)	Date of the transaction	2021-12-16
f)	Place of the transaction	London Stock Exchange (XLON)

-ends-

 

END

 

 

DSHEALAXFEDFFFA