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Ibstock PLC
Transaction in Own Shares • Apr 4, 2023
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Transaction in Own Shares
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National Storage Mechanism | Additional information 
RNS Number : 3506V
Ibstock PLC
04 April 2023
LEI: 2138003QHTNX34CN9V93
Ibstock Plc (the "Company")
Grant of Awards under the Ibstock Plc Long Term Incentive Plan
Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")
The Company announces that it granted an award ("LTIP Award") over Ibstock Plc ordinary shares of 1 penny each ("Ordinary Shares") on 3 April 2023 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 |
| Joseph Hudson | Chief Executive Officer | 452,632 | £Nil |
| Christopher McLeish | Chief Financial Officer | 304,536 | £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 172.50 pence per share (the closing middle market quotation on 31 March 2023).
The normal vesting date of the LTIP Awards will be 3 April 2026, 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. A two-year (net of sales for tax) post vesting holding period will apply to these awards.
The LTIP Awards will normally vest after 3 years based on the satisfaction of the associated performance conditions. These are Adjusted Earnings per Share (EPS) (25%), relative Total Shareholder Return (TSR) (30%), Adjusted ROCE (25%) and ESG (20%), each assessed over a three-year performance period commencing on 1 January 2023. Full details of the performance conditions and related targets are set out in the 2022 Annual Report and Accounts.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Joseph Hudson | |||
| 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 the Ibstock Plc Long Term Incentive Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| Nil | 452,632 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 452,632 | ||||
| - Price | Nil | ||||
| e) | Date of the transaction | 3 April 2023 | |||
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Christopher McLeish | |||
| 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 the Ibstock Plc Long Term Incentive Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| Nil | 304,536 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 304,536 | ||||
| - Price | Nil | ||||
| e) | Date of the transaction | 3 April 2023 | |||
| f) | Place of the transaction | Outside a trading venue |
Enquiries:
| Ibstock Plc | 01530 261 999 |
| Becky Parker |
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