Remuneration Information • Dec 15, 2016
Remuneration Information
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information
RNS Number : 9679R
Barratt Developments PLC
15 December 2016
15 December 2016
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 14 December 2016 under the LTPP:
| Executive Director | Role | Number of shares awarded |
| David Thomas | Chief Executive | 292,370 |
| Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 231,387 |
| Neil Cooper | Chief Financial Officer | 190,636 |
The number of shares over which the awards were granted were calculated based on a per share price of 476.3 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 (one-third), absolute EPS (one-third) and ROCE (one-third) measured over a three-year performance period commencing 1 July 2016. The awards are also subject to a two-year holding period commencing from 1 July 2019, being the end of the performance period.
If the performance targets are met, the awards will vest on 14 December 2019, subject to the two-year holding 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.
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 | 1,121,319 |
| Steven Boyes | Chief Operating Officer and Deputy Chief Executive | 783,455 |
| Neil Cooper | Chief Financial Officer | 418,129 |
The Company also confirms that, at the date of this announcement, each of the PDMRs of the Company, and their PCAs, hold the following total number of ordinary shares of 10 pence each in the Company:
| Director/PDMR | Role | Number of shares |
| John Allan | Chairman | 34,205 |
| David Thomas | Chief Executive | 1,459,096 |
| Steven Boyes | Chief Operating Officer and Deputy Chief Executive | 1,005,868 |
| Neil Cooper | Chief Financial Officer | 23,665 |
| Richard Akers | Non-Executive Director | 50,000 |
| Tessa Bamford | Non-Executive Director | 35,706 |
| Nina Bibby | Non-Executive Director | 8,500 |
| Jock Lennox | Non-Executive Director | 10,000 |
The Notification of Dealing Forms for each of the above transactions by the Executive Directors/PDMRs can be found below.
Notification of Dealing - 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 /Amendment | Initial notification |
| 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 financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan |
| c) | Price(s) and volume(s) | 292,370 shares awarded at no cost |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 14 December 2016 |
| f) | Place of the transaction | Outside a trading venue |
Notification of Dealing Form - Mr 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 /Amendment | Initial notification |
| 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 financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan |
| c) | Price(s) and volume(s) | 231,387 shares awarded at no cost |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 14 December 2016 |
| f) | Place of the transaction | Outside a trading venue |
Notification of Dealing Form - Mr Neil Cooper
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Neil Cooper |
| 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 | 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 financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Grant of a Conditional Award under the Barratt Developments Long-Term Performance Plan |
| c) | Price(s) and volume(s) | 190,636 shares awarded at no cost |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 14 December 2016 |
| 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 company news service from the London Stock Exchange
END
DSHBBBDDGDBBGLU
//<![CDATA[$.ajaxSetup({headers: {'__RequestVerificationToken':'mgo_0tt4fEGr8Tnik2sZB7ivlRBqNpzOnLNo2OH-HqYX9TVbX_PTl-nufR8MwVtX7zJsCjgyyKV-uYoSDVNJibXKM6nce9ShuhiNNJ_4rVM1:1aHNrLgWl-BqgKkU2hc279e2Y7ZoztFx_CPd0ItD3J4evYnlwS6c3Td22EA8A9a1rZBIc4JYQ0E6-xqhry5czoXR1EWwRaeyDRDVB19TXNU1'}});//]]>