REG - Elementis PLC - Director/PDMR Shareholding

ElementisAnnouncement

09/04/2024 18:15

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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   Details  of  the  person  discharging  managerial  responsibilities  /
      person  closely associated
 a)  Name                                                          PAUL WATERMAN
 2   Reason for the notification
 a)  Position/status                                               CEO, DIRECTOR
 b)  Initial notification/Amendment                                INITIAL NOTIFICATION
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         ELEMENTIS PLC
 b)  LEI                                                          549300LQIH685LI2ML36
 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  SHARES

                                                                  GB0002418548

     Identification code
 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 volume(s)

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

 

 d)  Aggregated information

- Aggregated volume

- Price                                                     N/A
 e)  Date of the transaction                                      2024-04-08
 f)  Place of the transaction                                     Outside of a trading venue

 

 

d)

Aggregated information

 

 

 

 

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

2024-04-08

f)

Place of the transaction

Outside of a trading venue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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                                                          RALPH HEWINS
 2   Reason for the notification
 a)  Position/status                                               CFO, DIRECTOR
 b)  Initial notification/Amendment                                INITIAL NOTIFICATION
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         ELEMENTIS PLC
 b)  LEI                                                          549300LQIH685LI2ML36
 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  SHARES

                                                                  GB0002418548

     Identification code
 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 volume(s)

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

 

 d)  Aggregated information

- Aggregated volume

- Price                                                     N/A
 e)  Date of the transaction                                      2024-04-08
 f)  Place of the transaction                                     Outside of a trading venue

 

 

d)

Aggregated information

 

 

 

 

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

2024-04-08

f)

Place of the transaction

Outside of a trading venue

 

 

 

 

 

 

 

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

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