RNS Number : 3635B
Forterra plc
20 March 2025
 

20 March 2025

Forterra plc

Grant under Performance Share Plan

Forterra plc (the "Company") announces that on 19 March 2025 awards over ordinary shares of £0.01 each in the capital of the Company were granted to certain Directors and persons discharging managerial responsibility ("PDMRs") under the Forterra plc Performance Share Plan ("PSP") as follows:

Name of Director / PDMR

Number of Shares over which the PSP Award is granted

Neil Ash

(Chief Executive Officer) 

545,873

Ben Guyatt

(Chief Financial Officer)

334,917

George Stewart

(Strategic Projects Director)

87,590

Adam Smith

(Commercial Director)

87,590

Mark Davies

(Chief Operations Officer)

115,640

Nicola Chapman

(Strategy and Marketing Director)

65,412

Sarah Renton

(Chief People Officer)

84,102

Frances Tock

(Company Secretary)

33,311

Other management

 

610,629

Total awards granted

 

1,965,064

No consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.01 per Ordinary Share. The number of Ordinary Shares granted under the award has been calculated using a share price of £1.605 being an average mid-market quotation as derived from the London Stock Exchange Daily Official List for the last 5 days of trading.

The vesting of an award is subject to the satisfaction of performance conditions which have been set by the Remuneration Committee of the Board of Directors of the Company and are set out below:

 

Plan conditions

Performance condition

% of award subject to condition

Growth

% of PSP award which will vest

Absolute EPS (before exceptional items) reported for the year ending 31 December 2027

40%

<15p

0%

Equal to 15p

25%

23p or above

100%

Company's total TSR against TSR of index members (FTSE 250 excluding investment trusts) - measured at 31 December 2027

40%

<Median

0%

Median

25%

Upper quartile or above

100%

Reduction in Group's clay product carbon emissions intensity versus 2019 baseline measured at 31 December 2027

10%

<12%

0%

12%

25%

18% or above

100%

Reduction in Group's plastic packaging intensity versus 202024 baseline measured at 31 December 2027

10%

<15%

0%

15%

25%

26% or above

100%

Vesting is measured on a straight-line basis between the above performance points


The awards will normally vest on 19 March 2028, subject to the achievement of the performance conditions and the participant being a director or employee within the Company's group at that time.

The above notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations and Listing Rule 9.3.2R.

Enquiries

Forterra plc:

+44 (0) 1604 707 600

Frances Tock (Company Secretary)




FTI Consulting (public relations adviser to Forterra):

+44 (0) 20 3727 1340

Richard Mountain


Nick Hasell


Further information relating to the Company and its group can be found at: www.forterra.co.uk/investors

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