Director/PDMR Shareholding
H-Power plc has granted nominal cost options for 10,397,437 ordinary shares, representing 0.91% of its issued share capital, to executive directors, senior management, and employees under its Performance Share Plan. The awards, which vest on June 29, 2029, are subject to an Absolute Total Shareholder Return condition, with vesting ranging from 25% to 100% based on achieving an annual TSR of 15% to 30%. Notably, Chief Executive Officer John Wilson received an award for 4,992,000 shares and Chief Financial Officer Karl Bostock received an award for 1,996,800 shares.
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H-Power (AIM: HPOW), a leading provider of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions at a commercially viable price point, announces that it has today granted awards by way of nominal cost options over, in aggregate, 10,397,437 ordinary shares of £0.001 each in the Company ("Ordinary Shares") ("Awards") to certain executive directors, senior management and employees under the Company's Performance Share Plan ("PSP"). This represents 0.91% of the Company's total issued share capital.
The following Directors and Persons Discharging Managerial Responsibility ("PDMRs") of the Company have been granted Awards under the Company's PSP:
| Name of Director/PDMR | Title | Maximum number of Ordinary Shares (Total Award) |
|---|---|---|
| John Wilson | Chief Executive Officer | 4,992,000 |
| Karl Bostock | Chief Financial Officer | 1,996,800 |
The Company's PSP has been designed to reward employees of the Company for performance that delivers value for shareholders and incentivise employees to work effectively together to deliver key corporate objectives.
The Awards entitle the individual to acquire Ordinary Shares up to the maximum number set out above, subject to the satisfaction of certain performance conditions and continued employment. The Awards will vest on 29 June 2029, or as soon as practicable after this date.
The performance testing relating to the Awards will be based on an Absolute Total Shareholder Return ("TSR") performance condition.
Under the Absolute TSR condition, at the vesting date the Company's TSR over the three year performance period will be calculated and tested against a threshold of 15% per annum. Below this threshold the Award will be forfeited. At the threshold, 25% of the maximum Award will vest and this will increase linearly up to 100% vesting for the achievement of 30% per annum.
Set out below are the notifications made in accordance with Article 19 of the UK Market Abuse Regulation.
| a) | Name | H-Power Plc |
| b) | LEI | 213800SRJST19GNS9U35 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of £0.001 each in the Company (the " Shares ") |
| Identification code | ISIN: GB00B18S7B29 | |
| b) | Nature of the transaction | Grant of awards over Shares under the H-Power Plc Performance Share Plan. |
| c) | Price(s) and volume(s) | Price per share Volume £0.001 4,992,000 |
| d) | Aggregated Information Volume Price | n/a single transaction |
| e) | Date of transaction | 29 June 2026 |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associate | |
| a) | Name | Karl Bostock |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | H-Power Plc |
| b) | LEI | 213800SRJST19GNS9U35 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of £0.001 each in the Company (the " Shares ") |
| Identification code | ISIN: GB00B18S7B29 | |
| b) | Nature of the transaction | Grant of awards over Shares under the H-Power Plc Performance Share Plan. |
| c) | Price(s) and volume(s) | Price per share Volume £0.001 1,996,800 |
| d) | Aggregated Information Volume Price | n/a single transaction |
| e) | Date of transaction | 29 June 2026 |
| f) | Place of transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.