Ibstock PLC Director/PDMR Shareholding (0898Y)

TIDMIBST

RNS Number : 0898Y

Ibstock PLC

03 May 2019

3 May 2019

Ibstock plc (the "Company")

Grant of Awards under the Ibstock plc Long Term Incentive Plan and the Ibstock plc Annual and Deferred Bonus Plan

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that it granted an award ("LTIP Award") over Ibstock plc ordinary shares of 1 penny each ("Ordinary Shares") on 3 May 2019 to a PDMR in accordance with the rules of the Ibstock plc Long Term Incentive Plan.

 
 Name         Status            Number of Ordinary         Option 
                                 Shares under LTIP Award    Price 
 Joe Hudson   Chief Executive                    170,181   GBPNil 
               Officer 
             ----------------  -------------------------  ------- 
 

No consideration was paid for the grant of the LTIP Award which is structured as a nil cost option. The number of Ordinary Shares granted under the LTIP Award has been calculated using an Ordinary Share price of 262.0 pence per share.

The normal vesting date of the LTIP Awards will be 3 May 2022, being the third anniversary of the award date.

Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date.

The LTIP Award will normally vest after three years based on the satisfaction of the following performance conditions:-

 
      i.    50% on relative TSR against the FTSE 250 construction and building materials companies: Median 
             performance (threshold); upper quartile performance (maximum); and 
      ii.   50% on compound annual Adjusted EPS growth: 6% p.a. compound growth (threshold); 12% p.a. 
             compound growth (maximum). 
 

25% of the LTIP Award will vest for threshold performance under both measures, with straight line vesting in between to full vesting for the achievement of maximum performance.

A holding period applies, which will commence on Vesting of the Award and end 2 years after Vesting.

On 3 May 2019 the Company also granted awards ("ADBP Awards") over Ordinary Shares to PDMR's in accordance with the rules of the Ibstock plc Annual and Deferred Bonus Plan ("ADBP").

 
 Name         Status            Number of Ordinary         Option 
                                 Shares under ADBP Award    Price 
 Joe Hudson   Chief Executive                     28,942   GBPNil 
               Officer 
             ----------------  -------------------------  ------- 
 Kevin Sims   Chief Financial                     18,310   GBPNil 
               Officer 
             ----------------  -------------------------  ------- 
 

These awards represent the deferral into Ordinary Shares of part of the Executive Directors' 2018 bonus entitlements under the rules of the ADBP.

No consideration was paid for the grant of the ADBP Awards which were structured as nil cost options. The number of Ordinary Shares granted under the ADBP Awards has been calculated in accordance with the rules of the ADBP using an Ordinary Share price of 203.51pence, being the average Ordinary Share price measured over the last 30 days of the financial year to which the bonus relates ended 31 December 2018.

The ADBP Awards will normally vest on 3 May 2022, subject to the participant being an employee of the Group at that time. Once vested, the ADBP Award will normally be exercisable until the day before the tenth anniversary of the award date.

The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                Joseph Hudson 
      ----------------------------------  ------------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------- 
 a)    Position/status                     Chief Executive Officer 
      ----------------------------------  ------------------------------------------------- 
 b)    Initial notification                Initial notification 
        /Amendment 
      ----------------------------------  ------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------- 
 a)    Name                                Ibstock plc 
      ----------------------------------  ------------------------------------------------- 
 b)    LEI                                 2138003QHTNX34CN9V93 
      ----------------------------------  ------------------------------------------------- 
 4     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                  Ordinary shares of 1p each 
        financial instrument, 
        type of instrument 
 
       Identification code                 GB00BYXJC278 
 
 b)    Nature of the transaction           Grant of awards under 
                                            (a) the Ibstock plc Long Term Incentive 
                                            Plan; and 
                                            (b) the Ibstock plc Annual and Deferred 
                                            Bonus Plan 
      ----------------------------------  ------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                      -----------------  ---------------- 
                                                       Price(s)           Volume(s) 
                                                      -----------------  ---------------- 
   (a)         Nil                                                                170,181 
              ---------------------------------------------------------  ---------------- 
   (b)         Nil                                                                 28,942 
              ---------------------------------------------------------  ---------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                 199,123 
 
  - Price                             Nil 
 
 e)    Date of the transaction             2019-05-03 
      ----------------------------------  ------------------------------------------------- 
 f)    Place of the transaction            Outside a trading venue 
      ----------------------------------  ------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Kevin Sims 
      -------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      --------------------------------------------------------------------------------- 
 a)    Position/status                        Chief Financial Officer 
      -------------------------------------  ------------------------------------------ 
 b)    Initial notification                   Initial notification 
        /Amendment 
      -------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 a)    Name                                   Ibstock plc 
      -------------------------------------  ------------------------------------------ 
 b)    LEI                                    2138003QHTNX34CN9V93 
      -------------------------------------  ------------------------------------------ 
 4     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                     Ordinary shares of 1p each 
        financial instrument, 
        type of instrument 
 
       Identification code                    GB00BYXJC278 
 
 b)    Nature of the transaction              Grant of awards under the Ibstock 
                                               plc Annual and Deferred Bonus Plan 
      -------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
                                              -------------------  ------------------ 
                                               Price(s)             Volume(s) 
                                              -------------------  ------------------ 
    Nil                                                                        18,310 
   --------------------------------------------------------------  ------------------ 
 
 d)    Aggregated information 
 
  - Aggregated volume                    18,310 
 
  - Price                                Nil 
 
 e)    Date of the transaction                2019-05-03 
      -------------------------------------  ------------------------------------------ 
 f)    Place of the transaction               Outside a trading venue 
      -------------------------------------  ------------------------------------------ 
 

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May 03, 2019 11:22 ET (15:22 GMT)