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RNS Number : 8609T
Barratt Developments PLC
17 October 2017
 

17 October 2017

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 Deferred Bonus Plan (the 'DBP')

Further to the disclosure in the Company's 2017 Annual Report and Accounts in respect of the deferral into shares of any bonus earned in excess of 100% of base salary for the financial year ended 30 June 2017, the Company announces that it has granted awards (the 'DBP Awards') to its Executive Directors in accordance with the provisions of the DBP as approved by shareholders at the 2015 AGM as follows:

Executive Director

Role

Amount of bonus deferred (£)

Number of shares under award

David Thomas

Chief Executive

322,352

53,502

Steven Boyes

Chief Operating Officer & Deputy Chief Executive

255,116

42,342

Jessica White

Chief Financial Officer

4,567

758

 

The number of shares awarded was calculated at a share price of £6.025 per share, being the average of the closing middle-market quotations, as derived from the daily official list of the Stock Exchange, for the first five dealing days following the date of the final results announcement of the Company for the financial year ended 30 June 2017.

The DBP Awards will be subject to a continued employment condition for a period of three years, commencing 17 October 2017. At the end of the three years, the shares will be released to the participants, subject to the payment of any tax and national insurance liability due on the shares at that time. No matching shares have been granted against the DBP Awards.

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

901,324

Steven Boyes

Chief Operating Officer & Deputy Chief Executive

768,067

Jessica White

Chief Financial Officer

44,711

 

The Notification of Dealing Forms for each of the above transactions by the Executive Directors/PDMRs can be found below.

Notification of Dealing - 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

 

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 Deferred Bonus Plan.

c)

 

Price(s) and volume(s)

 

 

53,502 shares awarded at no cost and deferred for three years.

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

N/A - Single Transaction

 

 

 

 

 

e)

 

Date of the transaction

 

17 October 2017

f)

 

Place of the transaction

 

Outside a trading venue

 

Notification of Dealing Form - Mr 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

4.3

 

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

 

 

Grant of a Conditional award under the Barratt Developments Deferred Bonus Plan.

c)

 

Price(s) and volume(s)

 

 

42,342 shares awarded at no cost and deferred for three years.

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

17 October 2017

f)

 

Place of the transaction

 

Outside a trading venue

 

Notification of Dealing Form - Mrs Jessica White

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Jessica White

 

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer

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

 

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 Deferred Bonus Plan.

c)

 

Price(s) and volume(s)

 

 

758 shares awarded at no cost and deferred for three years.

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

17 October 2017

f)

 

Place of the transaction

 

Outside a trading venue

 

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

For further information please contact:

Tina Bains

Company Secretary

01530 278278

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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