Source - LSE Regulatory
RNS Number : 3841P
Barratt Developments PLC
18 October 2021
 

BARRATT DEVELOPMENTS PLC

(the 'Company')

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs') and persons closely associated ('PCAs') with them

Grant of Awards under the Barratt Developments PLC Long-Term Performance Plan (the 'LTPP')

The Company announces that the following awards were made on 14 October 2021 under the LTPP:

Executive Director

Role

Number of shares under award

David Thomas

Chief Executive

224,370

Steven Boyes

Chief Operating Officer & Deputy Chief Executive

180,987

 

The number of shares over which the awards were granted were calculated based on a price of £6.9528 per share, being the average of the closing prices, as derived from the London Stock Exchange daily official list, for each of the dealing days in the period of three months ending with the day before the Grant Date.

The awards are subject to the attainment of performance targets based on TSR (30%), EPS (15%), Underlying ROCE (40%) and reduction of Greenhouse Gas Emissions (15%),  measured over a three-year performance period commencing 1 July 2021. The awards are also subject to a two-year holding period commencing from 1 July 2024, being the end of the performance period. No shares will be released to the Executive Directors until such time as any tax and national insurance contributions due on release of the shares has been settled. These shares will accrue a dividend equivalent between the date of grant and the date on which the awards vest. 

Following the above transactions, the Company confirms that at the date of this announcement, each of the Executive Directors holds the following total number of options and awards over Ordinary Shares of 10 pence each in the Company:

Executive Director

Role

Total number of shares under option and/or award

David Thomas

Chief Executive

1,177,457

Steven Boyes

Chief Operating Officer & Deputy Chief Executive

946,818

 

 

The Notification of Dealing Forms for the above transactions by David Thomas and Steven Boyes respectively are set out below:

 

Notification of Dealing Form - David Thomas

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

David Thomas

 

2

Reason for the notification

 

a)

 

Position/status

 

Chief Executive

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Barratt Developments PLC

b)

 

LEI

 

2138006R85VEOF5YNK29

4.1

 

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

 

Identification code

 

Ordinary Shares of 10 pence

 

 

ISIN: GB0000811801

 

b)

 

Nature of the transaction

 

 

Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan

 

c)

 

Price(s) and volume(s)

 

224,370 shares awarded at no cost

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

14 October 2021

f)

 

Place of the transaction

 

Outside a trading venue

 

Notification of Dealing Form - Steven Boyes

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Steven Boyes

 

2

Reason for the notification

 

a)

 

Position/status

 

Chief Operating Officer and Deputy Chief Executive

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Barratt Developments PLC

b)

 

LEI

 

2138006R85VEOF5YNK29

4.1

 

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

 

Identification code

 

Ordinary Shares of 10 pence

 

 

ISIN: GB0000811801

 

b)

 

Nature of the transaction

 

 

Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan

 

c)

 

Price(s) and volume(s)

 

180,987 shares awarded at no cost

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

14 October 2021

f)

Place of the transaction

Outside a trading venue

 

 

This notification is made in accordance with the requirements of the EU Market Abuse Regulation.

For further information, please contact:

Tina Bains, Company Secretary              01530 278 278

Date of Notification:                                 18 October 2021

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END
 
 
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