Elementis PLC

Director's Dealing • Apr 9, 2024

National Storage Mechanism | Additional information

RNS Number : 9315J

Elementis PLC

09 April 2024

Elementis plc

('Elementis' or 'the Company')

Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Elementis announces that on 8 April 2024 the following Directors have been granted conditional share awards under the Elementis plc 2018 Long Term Incentive Plan (LTIP) with a vesting date of 8 April 2027 at a cost of nil pence per share.

Name	Title	Number of shares (Performance Share Awards)
Paul Waterman	Chief Executive Officer	1,107,011
Ralph Hewins	Chief Financial Officer	489,054

The above quantum of awards are as detailed in the 2023 Directors' Remuneration Report and are based on award multiples set at 200% and 175% of salary both for the Chief Executive Officer and Chief Financial Officer respectively.

In addition, the Remuneration Committee (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 2026. 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 2024 awards are as follows:

Earnings per share (25% weighting)

EPS	% of EPS part vesting
Less than 14 cents	0%
17 cents	50%
18.5 cents	100%

Vesting will be on a straight-line basis between performance points.

Relative Total Shareholder Return (25% weighting)

Elementis versus FTSE ALL Share Constituents (excluding Investment Trusts)	% of TSR part vesting
Below median	0%
Median	25%
Upper quartile	100%

Vesting will be on a straight-line basis between the median and upper quartile.

Operating Cash Conversion (25% weighting)

Three-year Operating Cash Conversion	% of Operating Cash Conversion part vesting
Less than 80%	0%
80%	0%
100%	100%

Vesting will be on a straight-line basis between performance points.

Operating Profit Margin (25% weighting)

Three-year Operating Cash Conversion	% of Operating Cash Conversion part vesting
18 %	0%
19%	50%
20%	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, operating cash conversion and operating profit margin performance conditions in light of the return on capital employed achieved during the three year period ending 31 December 2026 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 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 financial instrument, t ype of instrument

I d e ntification code

SHARES

GB0002418548      

b)

Nature of the transaction

Grant of a conditional share award over 1,107,011 shares under the Elementis plc 2018 Long Term Incentive Plan with a vesting date of 8 April 2027 at a cost of nil pence per share.

c)

Price(s ) and volum e (s)

Price(s)	Volume(s)
N/A	N/A

d)

Aggr e g ate d i n formation

- Aggr e g a ted volume

- Price

N/A

e )

Date of the transaction

2024-04-08

f)

Place of the tr ansaction

Outside of a trading venue

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 financial instrument, t ype of instrument

I d e ntification code

SHARES

GB0002418548      

b)

Nature of the transaction

Grant of a conditional share award over 489,054 shares under the Elementis plc 2018 Long Term Incentive Plan with a vesting date of 8 April 2027 at a cost of nil pence per share.

c)

Price(s ) and volum e (s)

Price(s)	Volume(s)
N/A	N/A

d)

Aggr e g ate d i n formation

- Aggr e g a ted volume

- Price

N/A

e )

Date of the transaction

2024-04-08

f)

Place of the tr ansaction

Outside of a trading venue

Person responsible for making this notification: Anna Lawrence, Group General Counsel & Company Secretary

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHEAKLNESNLEFA