Business
Director/PDMR Transaction - Grant of Options
Director/PDMR Transaction - Grant of Options.
About this update from Brck Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8833P\n Brickability Group PLC\n 22 October 2021\n \n \n \n \n 22 October 2021\n \n \n \n \n \n Brickability Group PLC\n \n \n \n \n \n (the \"Company\" or the \"Group\")\n \n \n \n \n \n Grant of Options\n \n \n \n \n \n Director/PDMR Transaction\n \n \n \n \n \n Brickability Group plc, the leading construction materials distributor, announces that, on 21 October 2021, it awarded a total of 2,394,286 options to subscribe for new ordinary shares in the Company under the Brickability Group plc Long Term Incentive Plan (\"LTIP\") 2019 and the Brickability Company Share Option Plan 2019 to a broad number of Group employees, including option awards under the LTIP to certain of the Company's Directors/PDMRs in the amounts set out below (the \"LTIP Options\").\n \n \n \n \n \n \n \n \n Director/PDMR\n \n \n \n \n Number of LTIP Options\n \n \n \n \n \n \n Mike Gant, Chief Financial Officer\n \n \n \n \n 214,286\n \n \n \n \n \n \n Andrew Wilson, MD The Bespoke Brick Co.\n \n \n \n \n 114,286\n \n \n \n \n \n \n Martin Rudge, MD Taylor Maxwell\n \n \n \n \n 131,429\n \n \n \n \n \n \n \n \n \n \n \n Save as noted, the LTIP Options are exercisable on the same terms as previous options granted under the Company's LTIP, being exercisable at the nominal price of £0.01 and have vesting conditions tied to adjusted EBITDA and total shareholder return, with each award split equally between the two performance conditions. Vesting will occur on a straight-line basis on achieving 18% (equivalent to 6% annually) to 30% (equivalent to 10% annually) of the relevant performance condition over the performance period. There is no vesting if the relevant target is not met but a 25% vesting if the initial 18% hurdle is met with a proportionate additional vesting up to 100% at the 30% threshold being met. To the extent vested, the options will be subject to a two-year holding period following the expiry of the performance period.\n \n \n \n \n \n The performance period will be 1 April 2021 to 31 March 2024.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n Brickability Group PLC\n \n \n \n \n \n \n \n \n \n \n c/o Montfort Communications\n \n \n \n \n \n \n John Richards, Chairman\n \n \n Alan Simpson, Chief Execut...