Ibstock PLC

Remuneration Information • Mar 29, 2017

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RNS Number : 9351A

Ibstock PLC

29 March 2017

29 March 2017

Ibstock plc (the "Company")

Grant of Awards under the Ibstock plc Long Term Incentive Plan and the

Ibstock plc Annual and Deferred Bonus Plan

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that it granted awards ("LTIP Awards") over Ibstock plc ordinary shares of 1 penny each ("Ordinary Shares") on 29 March 2017 to PDMRs in accordance with the rules of the Ibstock plc Long Term Incentive Plan.

Name	Status	Number of Ordinary Shares under LTIP Award	Option Price
Wayne Sheppard	Chief Executive Officer	205,075	£Nil
Kevin Sims	Chief Financial Officer	139,933	£Nil

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 211.80 pence per share.

The normal vesting date of the LTIP Awards will be 29 March 2020, being the third anniversary of the award date.

Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date. 

The LTIP Awards will normally vest after 3 years based on the satisfaction of the following performance conditions:-

i.    50% on relative TSR against the FTSE 250 (excluding financial services, real estate and equity investment trusts): Median performance against the index (threshold); upper quartile performance against the index (maximum); and
ii.   50% on compound annual EPS growth: 6% p.a. compound growth (threshold); 16% p.a. compound growth (maximum).

25% of the LTIP Award will vest for threshold performance under both measures, with straight line vesting in between to full vesting for the achievement of maximum performance.

On 29 March 2017 the Company also granted awards ("ADBP Awards") over Ordinary Shares in accordance with the rules of the Ibstock plc Annual and Deferred Bonus Plan ("ADBP").

Name	Status	Number of Ordinary Shares under ADBP Award	Option Price
Wayne Sheppard	Chief Executive Officer	31,748	£Nil
Kevin Sims	Chief Financial Officer	21,003	£Nil

These awards represent the deferral into Ordinary Shares of part of the Executive Directors' 2016 bonus entitlements under the rules of the ADBP.  

No consideration was paid for the grant of the ADBP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each ADBP Award has been calculated in accordance with the rules of the ADBP using an Ordinary Share price of 182.98 pence being the average Ordinary Share price measured over the last 30 days of the financial year to which the bonus relates ending 31 December 2016.

The ADBP Awards will normally vest on 29 March 2020, subject to the participant being an employee of the Group at that time. Once vested, the ADBP Award will normally be exercisable until the day before the tenth anniversary of the award date.

The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Wayne Sheppard
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ibstock plc
b)	LEI	2138003QHTNX34CN9V93
4	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	Ordinary shares of 1p each
Identification code	GB00BYXJC278
b)	Nature of the transaction	Grant of awards under (a) the Ibstock plc Long Term Incentive Plan and (b) the Ibstock plc Annual and Deferred Bonus Plan
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
	(a)	Nil	205,075
	(b)	Nil	31,748
d)	Aggregated information
- Aggregated volume	236,823
- Price	Nil
e)	Date of the transaction	2017-03-29
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kevin Sims
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	Ibstock plc
b)	LEI	2138003QHTNX34CN9V93
4	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	Ordinary shares of 1p each
Identification code	GB00BYXJC278
b)	Nature of the transaction	Grant of awards under (a) the Ibstock plc Long Term Incentive Plan and (b) the Ibstock plc Annual and Deferred Bonus Plan
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
	(a)	Nil	139,933
	(b)	Nil	21,003
d)	Aggregated information
- Aggregated volume	160,936
- Price	Nil
e)	Date of the transaction	2017-03-29
f)	Place of the transaction	Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

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