TIDMBDEV
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 Role Number of shares
Director awarded
David Thomas Chief Executive 238,024
---------------------------------- -----------------
Chief Operating Officer & Deputy
Steven Boyes 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 Role Amount of Number of shares
Director bonus deferred under award
(GBP)
David Thomas Chief Executive 327,176 53,677
--------------------------- ---------------- -----------------
Chief Operating Officer
Steven Boyes & 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
------------------------------------ -----------------
Chief Operating Officer and Deputy
Steven Boyes 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 Initial notification
/Amendment
---------------------------- -------------------------------------
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 Ordinary Shares of 10 pence
financial instrument,
type of instrument
ISIN: GB0000811801
Identification code
---------------------------- -------------------------------------
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 N/A - Single Transaction
- Price
---------------------------- -------------------------------------
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 Ordinary Shares of 10 pence
financial instrument,
type of instrument
ISIN: GB0000811801
Identification code
---------------------------- -------------------------------------
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 N/A - Single Transaction
- Price
---------------------------- -------------------------------------
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 Initial notification
/Amendment
---------------------------- ---------------------------------------
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 Ordinary Shares of 10 pence
financial instrument,
type of instrument
ISIN: GB0000811801
Identification code
---------------------------- ---------------------------------------
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 N/A - Single Transaction
- Price
---------------------------- ---------------------------------------
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 Ordinary Shares of 10 pence
financial instrument,
type of instrument
ISIN: GB0000811801
Identification code
------------------------------ -------------------------------------
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 N/A - Single Transaction
- Price
------------------------------ -------------------------------------
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 Initial notification
/Amendment
------------------------------------------------------------------- --------------------------------------
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 Ordinary Shares of 10 pence
financial instrument,
type of instrument
ISIN: GB0000811801
Identification code
------------------------------------------------------------------- --------------------------------------
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
N/A - Single Transaction
- Aggregated volume
- Price
------------------------------------------------------------------- --------------------------------------
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 Ordinary Shares of 10 pence
financial instrument,
type of instrument
ISIN: GB0000811801
Identification code
------------------------------------------------------------------- --------------------------------------
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 N/A - Single Transaction
- Price
------------------------------------------------------------------- --------------------------------------
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHBBBDGLXDBGCI
(END) Dow Jones Newswires
October 28, 2019 07:39 ET (11:39 GMT)
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