Forterra plc Director/PDMR Shareholding (5402T)

TIDMFORT

RNS Number : 5402T

Forterra plc

25 March 2021

25 March 2021

Forterra plc (the "Company")

Director / PDMR Shareholdings

Following the vesting on 1 May 2020 of share options granted to management under the 2017 Performance Share Plan (PSP), the Company was notified on the 24 March 2021 that on the 23 March 2021 the following exercise and sale transactions took place:

George Stewart, Operations Director exercised options granted under the PSP as laid out below selling sufficient shares to cover the appropriate tax and national insurance liabilities.

 
 Name        Status    No. of       Sale       Number       Price     Number       Beneficial   % 
                        shares       Date       of shares              of shares    interest     of 
                        exercised               sold                   retained                  ISC 
 George                                                                                         < 
  Stewart    PDMR      24,677       23/03/21   11,704       GBP2.71   12,973       52,593        1% 
            --------  -----------  ---------  -----------  --------  -----------  -----------  ----- 
 

The 2017 PSP awards were granted with half of the awards subject to an EPS performance condition and the other half of the awards subject to a TSR performance condition. The EPS performance condition vested at 43.57% of the maximum and the TSR performance condition vested at 90.01%. The Remuneration Committee determined that, in accordance with the rules of the scheme, participants would receive dividend equivalent shares at the rate of 1.102917 additional share for every vesting share. The Remuneration Committee also agreed to waive the 1p per option cost upon exercise.

The shares to be retained by management are to be transferred to management by the Employee Benefit Trust.

The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.

Enquiries

 
Forterra plc:                         [phone] 
Ashley Thompson (Company Secretary) 
 
FTI Consulting :                      [phone] 
Richard Mountain/Nick Hasell 
 

Further information relating to the Company and its group can be found at www.forterraplc.co.uk .

 
1.  Details of the person discharging managerial responsibilities/person closely associated 
a)  Name                                                      George Stewart 
2.  Reason for the notification 
a)  Position/status                                           PDMR (Operations Director) 
b)  Initial notification/Amendment                            Initial notification 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
a)  Name                                                      Forterra plc 
b)  LEI                                                       213800O5DD6ATBVJAD23 
4.  Details of the transaction(s): 
a)  Description of the financial instrument, type of          Ordinary Shares of 1p each 
    instrument 
    Identification code                                        GB00BYYW3C20 
b)  Nature of the transaction                                 Acquisition of shares for no consideration pursuant to 
                                                              the exercise of nominal cost options 
                                                              (with the 1p option cost waived by the Company) granted 
                                                              under the PSP scheme on 25 April 2017 
                                                              and vesting on 1 May 2020 
c)  Price(s) and volume(s)                                     Transaction   Price(s)   Volume(s) 
                                                                              GBPNil     24,677 options 
                                                                                          vesting 
 
                                                                               GBP2.71    11,704 shares 
                                                                                          sold to settle 
                                                                                          tax and NI 
                                                                               GBPNil 
                                                                                          12,973 shares 
                                                                                          acquired 
                                                                             ---------  ---------------- 
d)  Aggregated information                                     Transaction   Price(s)   Volume(s)   Total 
                                                                Sale          GBP2.71    11,704      GBP31,717.84 
                                                                             ---------  ----------  ------------- 
 

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March 25, 2021 10:41 ET (14:41 GMT)