Grants under Deferred Annual Bonus Plan
Deferred annual bonus awards granted to executives under DBP with vesting in August 2027.
- Dennis Schulz (CEO) DBP award 179,510 shares
- Amy Grey (CFO) DBP award 35,211 shares
- Simon Bourne (CTO) DBP award 94,571 shares
- Share price used for calculation 71.375 pence
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ITM Power plc (the "Company") announces that on 10 April 2026 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 71.375 pence, being the closing middle market quotation as derived from the daily official list on 10 April 2026.
The awards are normally subject to a two-year vesting period from the date of grant and were originally intended to be issued in August 2025. However, the awards were delayed due to an extended close period in connection with the recently announced Great British Energy Group Limited investment and Department for Energy Security and Net Zero grant intention. As a result of this, the vesting date will be 15 August 2027. This is to ensure the participants are not disadvantaged due to the extended closed period.
As this award was derived from a portion of the participants' 2025 annual bonus entitlement, where certain performance conditions have been met, 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 | 179,510 |
| Amy Grey, CFO | 35,211 |
| Simon Bourne, CTO | 94,571 |
The notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
| 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 | 179,510 | |
| d) | Aggregated information | |
| - Aggregated volume | 179,510 | |
| - Price | NA | |
| e) | Date of the transaction | 10 April 2026 |
| 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 | 94,571 | |
| d) | Aggregated information | |
| - Aggregated volume | 94,571 | |
| - Price | NA | |
| e) | Date of the transaction | 10 April 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Amy Grey |
| 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 | 35,211 | |
| d) | Aggregated information | |
| - Aggregated volume | 35,211 | |
| - Price | NA | |
| e) | Date of the transaction | 10 April 2026 |
| f) | Place of the transaction | Outside a trading venue |
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