LEI: 2138003QHTNX34CN9V93
Ibstock Plc (the "Company")
Grant of Awards under Ibstock Long Term Incentive Plan 2023
Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")
On 3 April 2024 the Company granted awards ("LTIP Awards") over Ibstock Plc ordinary shares of 1 penny each ("Ordinary Shares") in accordance with the rules of the Ibstock Long Term Incentive Plan 2023 ("LTIP").
| Name | Status | Number of Ordinary Shares under LTIP Award | Option Price |
| Joseph Hudson | Chief Executive Officer | 550,831 | £Nil |
| Christopher McLeish | Chief Financial Officer | 370,606 | £Nil |
No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated in accordance with the rules of the LTIP using an Ordinary Share price of 146.0 pence per share (the closing middle market quotation on the 2 April 2024).
The normal vesting date of the LTIP Awards will be 3 April 2027, 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. A two-year (net of sales for tax) post vesting holding period will apply to these awards.
The LTIP Awards will normally vest after 3 years based on the satisfaction of the associated performance conditions. These are Adjusted Earnings per Share (EPS) (30%), relative Total Shareholder Return (TSR) (20%), ROCE (30%) and ESG (20%), each assessed over a three-year performance period commencing on 1 January 2024. Full details of the performance conditions and related targets are set out in the 2023 Annual Report and Accounts.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
| 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 /Amendment | Initial notification | |||
| 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 financial instrument, type of instrument | Ordinary shares of 1p each | |||
| | | ||||
| Identification code | GB00BYXJC278 | ||||
| | | ||||
| b)
| Nature of the transaction | Grant of awards under the Ibstock Long Term Incentive Plan 2023 | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | (a) | Nil | 550,831 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 550,831 | ||||
| | | ||||
| - Price | Nil | ||||
| | | ||||
| e) | Date of the transaction | 3 April 2024 | |||
| f) | Place of the transaction | Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Christopher McLeish | |||
| 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 | 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 financial instrument, type of instrument | Ordinary shares of 1p each | |||
| | | ||||
| Identification code | GB00BYXJC278 | ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of awards under the Ibstock Long Term Incentive Plan 2023 | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | (a) | Nil | 370,606 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 370,606 | ||||
| | | ||||
| - Price | Nil | ||||
| | | ||||
| e) | Date of the transaction | 3 April 2024 | |||
| f) | Place of the transaction | Outside a trading venue | |||
Enquiries:
| Ibstock Plc | 01530 261 999 |
| Becky Parker | |
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