Elementis PLC Director/PDMR Shareholding (7410U)
07 Abril 2021 - 11:31AM
UK Regulatory
TIDMELM
RNS Number : 7410U
Elementis PLC
07 April 2021
7 April 2021
Elementis plc
('Elementis' or 'the Company')
Director/PDMR Shareholding
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Elementis plc announces that on 6 April 2021 the following
Directors have been granted conditional share awards under the
Elementis plc 2018 Long Term Incentive Plan (LTIP) with a vesting
date of 6 April 2024 at a cost of nil pence per share.
Name Title Number of shares
(Performance Share
Awards)
Paul Waterman Chief Executive Officer 1,079,362
------------------------- --------------------
Ralph Hewins Chief Financial Officer 515,214
------------------------- --------------------
The above quantum of awards are as detailed in the 2020
Directors' Remuneration Report and are based on award multiples set
at 200% and 175% of salary for both the Chief Executive and Chief
Financial Officer respectively.
In addition, the Committee will retain discretion to reduce the
number of shares on vesting should it be considered appropriate to
do so (e.g. in the event that there was perceived windfall
gain).
Subject to the terms of the LTIP plan rules, the above awards
will vest and become exercisable from the third anniversary of the
grant of the awards subject to continued service and to the extent
to which the relevant performance conditions (see below) are
satisfied over the three financial years ending 31 December 2023.
Shares that vest (post selling any shares required to meet
associated tax liabilities) are also subject to a two-year holding
requirement.
Performance conditions
The full performance conditions to apply to the 2021 awards are
as follows:
Earnings per share (33% weighting)
EPS % of EPS part
vesting
Less than 10 cents 0%
--------------
10 cents 0%
--------------
13 cents 100%
--------------
Vesting will be on a straight-line basis between performance points.
Relative Total Shareholder Return (33% weighting)
Elementis versus % of TSR part
FTSE ALL Share Constituents vesting
(excluding Investment
Trusts)
Below median 0%
--------------
Median 3.85%
--------------
Upper quartile 100%
--------------
Vesting will be on a straight-line basis between the median and upper quartile.
Operating Cash Conversion (33% weighting)
Three-year Operating % of Operating
Cash Conversion Cash Conversion
part vesting
Less than 85% 0%
-----------------
85% 0%
-----------------
95% 100%
-----------------
Vesting will be on a straight-line basis between performance points.
Vesting based on the above performance conditions will be
subject to a return on capital employed underpin. This will require
the Committee to consider the vesting result determined based on
the application of the EPS, TSR and operating cash conversion
performance conditions in light of the return on capital employed
achieved during the three year period ending 31 December 2023
relative to the Board's internal plans over the period. If the
Committee does not consider the vesting result appropriate in light
of the return the underpin enables vesting to be reduced to a more
appropriate level.
Set out below are the notifications made in accordance with
Article 19 of the EU Market Abuse Regulation.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Deta ils of the person discharging m anagerial responsibilities
/ person closely associated
a) Na me PAUL WATERMAN
---------------------------------- ---------------------------------------------
2 Reaso n for the notification
---------------------------------------------------------------------------------
a) Position/status CEO, DIRECTOR
---------------------------------- ---------------------------------------------
b) I nitial notification/Amendment INITIAL NOTIFICATION
---------------------------------- ---------------------------------------------
3 Deta ils of the issuer, e mission allow ance m a rket participant,
auct ion plat for m, auctioneer or auc tion monitor
---------------------------------------------------------------------------------
a) Na me ELEMENTIS PLC
---------------------------------- ---------------------------------------------
b) L E I 549300LQIH685LI2ML36
---------------------------------- ---------------------------------------------
4 Deta ils of the t ransact ion(s): section to be re p eated
for ( i) e a ch type of instrum ent;
(ii ) each type of transa c tion; (iii) each date; a nd (iv)
each place where transactions have been conducted
---------------------------------------------------------------------------------
a) Descriptio n of the SHARES
financial instrument,
t ype of instrument
GB0002418548
I d e ntification
code
---------------------------------- ---------------------------------------------
b) Nature of the transaction Grant of a conditional share award over
1,079,362 shares under the Elementis plc
2018 Long Term Incentive Plan with a vesting
date of 6 April 2024 at a cost of nil pence
per share.
---------------------------------- ---------------------------------------------
c) Price(s ) and volum Price(s) Volume(s)
e (s) N/A N/A
----------
---------------------------------- ---------------------------------------------
d) Aggr e g ate d i n
formation
---------------------------------- ---------------------------------------------
- Aggr e g a ted volume N/A
* Price
---------------------------------- ---------------------------------------------
e Date of the transaction 2021-04-06
)
---------------------------------- ---------------------------------------------
f) Place of the tr ansaction London, UK
---------------------------------- ---------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Deta ils of the person discharging m anagerial responsibilities
/ person closely associated
a) Na me RALPH HEWINS
---------------------------------- ---------------------------------------------
2 Reaso n for the notification
---------------------------------------------------------------------------------
a) Position/status CFO, DIRECTOR
---------------------------------- ---------------------------------------------
b) I nitial notification/Amendment INITIAL NOTIFICATION
---------------------------------- ---------------------------------------------
3 Deta ils of the issuer, e mission allow ance m a rket participant,
auct ion plat for m, auctioneer or auc tion monitor
---------------------------------------------------------------------------------
a) Na me ELEMENTIS PLC
---------------------------------- ---------------------------------------------
b) L E I 549300LQIH685LI2ML36
---------------------------------- ---------------------------------------------
4 Deta ils of the t ransact ion(s): section to be re p eated
for ( i) e a ch type of instrum ent;
(ii ) each type of transa c tion; (iii) each date; a nd (iv)
each place where transactions have been conducted
---------------------------------------------------------------------------------
a) Descriptio n of the SHARES
financial instrument,
t ype of instrument
GB0002418548
I d e ntification
code
---------------------------------- ---------------------------------------------
b) Nature of the transaction Grant of a conditional share award over
515,214 shares under the Elementis plc
2018 Long Term Incentive Plan with a vesting
date of 6 April 2024 at a cost of nil pence
per share.
---------------------------------- ---------------------------------------------
c) Price(s ) and volum Price(s) Volume(s)
e (s) N/A N/A
----------
---------------------------------- ---------------------------------------------
d) Aggr e g ate d i n
formation
---------------------------------- ---------------------------------------------
- Aggr e g a ted volume N/A
* Price
---------------------------------- ---------------------------------------------
e Date of the transaction 2021-04-06
)
---------------------------------- ---------------------------------------------
f) Place of the tr ansaction London, UK
---------------------------------- ---------------------------------------------
Person responsible for making this notification: Laura Higgins,
Group Company Secretary
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END
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April 07, 2021 12:31 ET (16:31 GMT)
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