BARRATT DEVELOPMENTS PLC
(the 'Company')
Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs') and persons closely associated ('PCAs') with them
The Company announces that the following share transactions have been undertaken by each of the Executive Directors:
Vesting of Awards under the Barratt Developments PLC Long Term Performance Plan (the 'LTPP')
In 2018, awards were granted under the LTPP to David Thomas (Chief Executive) and Steven Boyes (Chief Operating Officer and Deputy Chief Executive). The performance period for each of these awards ended on 30 June 2021. On 21 October 2021, 80% of the awards vested, 217,940 shares for David Thomas and 172,481 shares for Steven Boyes. David Thomas and Steven Boyes sold 102,586 and 81,188 shares respectively at £6.4822 per share to cover the tax and NI due on release. The remaining shares are subject to a further two year holding period which commenced on 1 July 2021. Steven Boyes subsequently transferred 91,293 shares to Andrea Boyes, a person closely associated ('PCA') with him. The shares being transferred will still be included when calculating the total shareholding of Steven Boyes and his PCAs.
Vesting of Awards under the Barratt Developments Deferred Bonus Plan (the 'DBP')
In 2018, awards were granted under the DBP to David Thomas and Steven Boyes in respect of their bonuses earned in excess of 100% of salary for the financial year ended 30 June 2018. This award vested on 21 October 2021 and the net shares of 26,170 and 24,764, following the settlement of any tax and NI due on release, have been transferred to David Thomas and Steven Boyes respectively. David Thomas and Steven Boyes sold 23,275 and 22,023 shares respectively at £6.4822 per share to cover the tax and NI due on release. Steven Boyes subsequently transferred 24,764 shares to Andrea Boyes, a person closely associated ('PCA') with him. The shares being transferred will still be included when calculating the total shareholding of Steven Boyes and his PCAs.
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 | 855,586 |
| Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 684,429 |
In addition, the Company confirms that, at the date of this announcement, each of the Directors of the Company, and their persons closely associated, hold the following total number of ordinary shares of 10 pence each in the Company:
| Director/PDMR | Role | Number of shares |
| John Allan | Chairman | 82,235 |
| David Thomas | Chief Executive | 1,196,897 |
| Steven Boyes | Chief Operating Officer/Deputy Chief Executive | 618,644 |
| Nina Bibby | Non-Executive Director | 8,500 |
| Katie Bickerstaffe | Non-Executive Director | 6,000 |
| Jock Lennox | Non-Executive Director | 10,000 |
| Sharon White | Non-Executive Director | 363 |
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
| Vesting of Shares under the Barratt Developments Long Term Performance Plan
|
| c)
| Price(s) and volume(s)
| 217,940 shares under the Barratt Developments Long Term Performance Plan for no cost
|
| d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single transaction
N/A - Single transaction
|
| e)
| Date of the transaction
| 21 October 2021 |
| f)
| Place of the transaction
| Outside a trading venue |
| 4.2
| 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
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1 |
| c)
| Price(s) and volume(s)
|
102,586 shares sold at £6.4822 per share |
| d)
| Aggregated information
- Aggregated volume
- Price |
N/A - Single Transaction
N/A - Single Transaction
|
| e)
| Date of the transaction
| 21 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
| Vesting of Shares under the Barratt Developments Long Term Performance Plan | |||||
| c)
| Price(s) and volume(s)
| 172,481 shares under the Barratt Developments Long Term Performance Plan for no cost
| |||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single transaction
N/A - Single transaction | |||||
| e)
| Date of the transaction
| 21 October 2021 | |||||
| f) | Place of the transaction | Outside a trading venue | |||||
| 4.2
| 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
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1. | |||||
| c)
| Price(s) and volume(s)
|
81,188 shares sold at £6.4822 per share | |||||
| d)
| Aggregated information
- Aggregated volume
- Price |
N/A - Single Transaction
N/A - Single Transaction
| |||||
| e)
| Date of the transaction
| 21 October 2021 | |||||
| f)
| Place of the transaction
| Outside a trading venue | |||||
| 4.3
| 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
| Transfer for nil consideration of Ordinary Shares to Mrs Andrea Boyes, a PCA of Steven Boyes, Chief Operating Officer and Deputy Chief Executive. | |||||
| c)
| Price(s) and volume(s)
|
| |||||
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
| |||||
| e | Date of the transaction | 21 October 2021 | |||||
| f)
| Place of the transaction
| Outside a trading venue | |||||
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
| Vesting of Shares under the Barratt Developments Deferred Bonus Plan
|
| c)
| Price(s) and volume(s)
| 49,445 shares under the Barratt Developments Deferred Bonus Plan for no cost
|
| d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single transaction
N/A - Single transaction
|
| e)
| Date of the transaction
| 21 October 2021 |
| f)
|
| Outside a trading venue |
| 4.2
| 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
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1. |
| c)
| Price(s) and volume(s)
|
23,275 shares sold at £6.4822 per share |
| d)
| Aggregated information
- Aggregated volume
- Price |
N/A - Single Transaction
N/A - Single Transaction
|
| e)
| Date of the transaction
| 21 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
| Vesting of Shares under the Barratt Developments Deferred Bonus Plan | |||||
| c)
| Price(s) and volume(s)
| 46,787 shares under the Barratt Developments Deferred Bonus Plan for no cost
| |||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - Single transaction
N/A - Single transaction | |||||
| e)
| Date of the transaction
| 21 October 2021 | |||||
| f) | Place of the transaction | Outside a trading venue | |||||
| 4.2
| 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
| Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1. | |||||
| c)
| Price(s) and volume(s)
|
22,023 shares sold at £6.4822 per share | |||||
| d)
| Aggregated information
- Aggregated volume
- Price |
N/A - Single Transaction
N/A - Single Transaction
| |||||
| e)
| Date of the transaction
| 21 October 2021 | |||||
| f)
| Place of the transaction
| Outside a trading venue | |||||
| 4.3
| 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
| Transfer for nil consideration of Ordinary Shares to Mrs Andrea Boyes, a PCA of Steven Boyes, Chief Operating Officer and Deputy Chief Executive. | |||||
| c)
| Price(s) and volume(s)
|
| |||||
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A - Single Transaction
| |||||
| e | Date of the transaction | 21 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: 25 October 2021
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