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Regulatory Story
Company Barratt Developments PLC
TIDM BDEV
Headline Director/PDMR Shareholding
Released 11:39 28-Oct-2019
Number 3483R11

RNS Number : 3483R
Barratt Developments PLC
28 October 2019
 

28 October 2019

 

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 Long-Term Performance Plan (the 'LTPP')

The Company announces that the following awards were made on 24 October 2019 under the LTPP:

Executive Director

Role

Number of shares awarded

David Thomas

Chief Executive

238,024

Steven Boyes

Chief Operating Officer & Deputy Chief Executive

188,376

Jessica White

Chief Financial Officer

132,756

 

The number of shares over which the awards were granted were calculated based on a per share price of 636.2 pence, being the average of the closing prices, as derived from the London Stock Exchange daily official list, for each of the dealing days in the period of three months ending with the day before the Grant Date.

The awards are subject to the attainment of performance targets based on relative TSR (40%), absolute EPS (20%) and Underlying ROCE (40%) measured over a three-year performance period commencing 1 July 2019. The awards are also subject to a two-year holding period commencing from 1 July 2022, being the end of the performance period. No shares will be released to the Executive Directors until such time as any tax and national insurance contributions due on release of the shares has been settled. These shares will accrue a dividend equivalent. 

Grant of Awards under the Barratt Developments PLC Deferred Bonus Plan (the 'DBP')

Further to the disclosure in the Company's 2019 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 2019, the Company announces that it has granted following awards (the 'DBP Awards') to its Executive Directors on 24 October 2019 under the DBP:

Executive Director

Role

Amount of bonus deferred (£)

Number of shares under award

David Thomas

Chief Executive

327,176

53,677

Steven Boyes

Chief Operating Officer & Deputy Chief Executive

287,432

47,157

Jessica White

Chief Financial Officer

202,567

33,233

 

The number of shares awarded was calculated at a share price of 609.52 pence 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 2019.

The DBP Awards will be subject to a continued employment condition for a period of three years, commencing 24 October 2019. 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. These shares will accrue a dividend equivalent. 

 

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

899,383

Steven Boyes

Chief Operating Officer and Deputy Chief Executive

723,310

Jessica White

Chief Financial Officer

484,352

 

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

Notification of Dealing - Mr 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

 

 

Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan

 

c)

 

Price(s) and volume(s)

 

238,024 shares awarded at no cost

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

24 October 2019

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

 

 

Grant of a Conditional Award under the Barratt Developments Deferred Bonus Plan

 

c)

 

Price(s) and volume(s)

 

53,677 shares awarded at no cost

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

24 October 2019

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

 

 

Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan

 

c)

 

Price(s) and volume(s)

 

188,376 shares awarded at no cost

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

24 October 2019

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

 

 

Grant of a Conditional Award under the Barratt Developments Deferred Bonus Plan

 

c)

 

Price(s) and volume(s)

 

47,157 shares awarded at no cost

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

24 October 2019

f)

 

Place of the transaction

 

Outside a trading venue

       

 

Notification of Dealing Form - 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

 

4.1

 

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

 

 

Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan

 

 

c)

 

Price(s) and volume(s)

 

132,756 shares awarded at no cost

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A - Single Transaction

 

 

e)

 

Date of the transaction

 

24 October 2019

 

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

 

 

Grant of a Conditional Award under the Barratt Developments Deferred Bonus Plan

c)

 

Price(s) and volume(s)

 

33,233 shares awarded at no cost

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A - Single Transaction

 

e)

 

Date of the transaction

 

24 October 2019

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

 


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