Director/PDMR Shareholding
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Following the vesting on 17 September 2023 of share options granted to management under the 2020 Performance Share Plan (PSP), the Company was notified on the 8th April 2024 that on the 5th April 2024 the following exercise and sale transactions took place:
George Stewart 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 share options exercised | Sale Date | Number of shares sold | Price | Number of shares retained | Beneficial interest | % of ISC |
|---|---|---|---|---|---|---|---|---|
| George Stewart | PDMR | 35,617 | 5/4/24 | 16,799 | £1.589620 | 18,818 | 81,541 | < 1% |
The 2020 PSP awards were granted with all of the awards subject to an TSR performance condition. The TSR performance condition vested at 53.9%. The Remuneration Committee determined that, in accordance with the rules of the scheme, participants would receive dividend equivalent shares at the rate of 0.1437 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.
| 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 17 September 2020 and vesting on 17 September 2023 |
| c) | Price(s) and volume(s) | Transaction Price(s) Volume(s) £Nil £1.589620 £Nil 35,617 options vesting 16,799 shares sold to settle tax and NI 18,818 shares acquired |
| d) | Aggregated information | Transaction Price(s) Volume(s) Total Sale £1.589620 16,799 £26,704.0335,617 |
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