Business
Grant under Performance Share Plan
Grant under Performance Share Plan.
About this update from Forterra Plc
[{"type":"text","content":"\n\n20 March 2025\nForterra plc\nGrant under Performance Share Plan\nForterra plc (the \"Company\") announces that on 19 March 2025 awards over ordinary shares of £0.01 each in the capital of the Company were granted to certain Directors and persons discharging managerial responsibility (\"PDMRs\") under the Forterra plc Performance Share Plan (\"PSP\") as follows:\n\n\n\n\nName of Director / PDMR\n\n\nNumber of Shares over which the PSP Award is granted\n\n\n\n\nNeil Ash\n(Chief Executive Officer) \n\n\n545,873\n\n\n\n\nBen Guyatt\n(Chief Financial Officer)\n\n\n334,917\n\n\n\n\nGeorge Stewart\n(Strategic Projects Director)\n\n\n87,590\n\n\n\n\nAdam Smith\n(Commercial Director)\n\n\n87,590\n\n\n\n\nMark Davies\n(Chief Operations Officer)\n\n\n115,640\n\n\n\n\nNicola Chapman\n(Strategy and Marketing Director)\n\n\n65,412\n\n\n\n\nSarah Renton\n(Chief People Officer)\n\n\n84,102\n\n\n\n\nFrances Tock\n(Company Secretary)\n\n\n33,311\n\n\n\n\nOther management\n \n\n\n610,629\n\n\n\n\nTotal awards granted\n \n\n\n1,965,064\n\n\n\n\nNo consideration was paid for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.01 per Ordinary Share. The number of Ordinary Shares granted under the award has been calculated using a share price of £1.605 being an average mid-market quotation as derived from the London Stock Exchange Daily Official List for the last 5 days of trading.\nThe vesting of an award is subject to the satisfaction of performance conditions which have been set by the Remuneration Committee of the Board of Directors of the Company and are set out below:\n \nPlan conditions\n\n\n\n\nPerformance condition\n\n\n% of award subject to condition\n\n\nGrowth\n\n\n% of PSP award which will vest\n\n\n\n\nAbsolute EPS (before exceptional items) reported for the year ending 31 December 2027\n\n\n40%\n\n\n<15p\n\n\n0%\n\n\n\n\nEqual to 15p\n\n\n25%\n\n\n\n\n23p or above\n\n\n100%\n\n\n\n\nCompany's total TSR against TSR of index members (FTSE 250 excluding investment trusts) - measured at 31 December 2027\n\n\n40%\n\n\n<Median\n\n\n0%\n\n\n\n\nMedian\n\n\n25%\n\n\n\n\nUpper quartile or above\n\n\n100%\n\n\n\n\nReduction in Group's clay product carbon emissions intensity versus 2019 baseline measured at 31 December 2027\n\n\n10%\n\n\n<12%\n\n\n0%\n\n\n\n\n12%\n...