Grants under Deferred Annual Bonus Plan
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ITM Power PLC (the "Company") announces that on 27 August 2024 awards over ordinary shares of £0.05 each in the capital of the Company were granted to certain employees under the ITM Power PLC Deferred Annual Bonus Plan ("DBP").
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 50.55 pence, being the closing middle market quotation as derived from the daily official list on 27 August 2024.
The awards are subject to a two-year vesting period. As this award was derived from a portion of the participants' 2024 annual bonus entitlement, which was subject to the achievement of certain performance conditions, these awards are not conditional on the achievement of further performance conditions, other than the participant being a director or employee within the Company's group at the time of vesting.
The DBP awards granted to Executive Directors (who are Persons Discharging Managerial Responsibilities) are as follows:
| Name of Director/PDMR | Number of Shares over which the DBP Award is granted | |
| Dennis Schulz, CEO | 239,183 | |
| Andrew Allen, CFO | 100,360 | |
| Simon Bourne, CTO | 151,013 | |
| a) | Name | ITM Power PLC |
| b) | LEI | 21380042MB2JKZ6RRP12 |
| 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 Options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nominal cost option | 239,183 | |
| d) | Aggregated information | |
| - Aggregated volume | 239,183 | |
| - Price | NA | |
| e) | Date of the transaction | 27 August 2024 |
| 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 Technology Officer |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | ITM Power PLC |
| b) | LEI | 21380042MB2JKZ6RRP12 |
| 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 Options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nominal cost option | 151,013 | |
| d) | Aggregated information | |
| - Aggregated volume | 151,013 | |
| - Price | NA | |
| e) | Date of the transaction | 27 August 2024 |
| 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 |
| a) | Name | ITM Power PLC |
| b) | LEI | 21380042MB2JKZ6RRP12 |
| 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 Options |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| Nominal cost option | 100,360 | |
| d) | Aggregated information | |
| - Aggregated volume | 100,360 | |
| - Price | NA | |
| e) | Date of the transaction | 27 August 2024 |
| f) | Place of the transaction | Outside a trading venue |
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