REG - Forterra plc - Grant under Deferred Annual Bonus Plan

ForterraAnnouncement

16/03/2023 17:30

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RNS Number : 2811T  Forterra plc  16 March 2023

16 March 2023

 

Forterra plc

Grant under Deferred Annual Bonus Plan

Forterra plc (the "Company") announces that, on 16 March 2023, share option
awards over ordinary shares of £0.01 each in the capital of the Company were
granted to Executive Directors under the Forterra plc Deferred Annual Bonus
Plan ("DABP") as follows:

 Name of Director  Number of shares over which the award is granted
 Stephen Harrison  88,986
 Ben Guyatt        64,542
 Total             153,528

These awards represent the deferral into ordinary shares of part of the
Executive Directors' 2022 bonus entitlements under the rules of the Scheme.

No consideration was paid for the grant of the awards which are structured as
nominal cost options at an option exercise price of £0.01 per ordinary share.
The number of ordinary shares granted under the award has been calculated
using a share price of £2.05 being an average of the closing mid-market share
price for the five days commencing on 9 March 2023 being the date of
announcing the Company's 2022 results.

The awards will normally vest on 16 March 2026, subject to the participant
being an employee of the Company at that time. Once vested, the award shall
normally remain exercisable until the day before the tenth anniversary of the
date of grant. Further terms and conditions of the DABP are set out in the
Annual Report and Accounts.

The above notification is intended to satisfy the Company's obligations under
Article 19 of the Market Abuse Regulations.

Enquiries

 Forterra plc:                                           +44 (0) 1604 707 600
 Ashley Thompson (Company Secretary)

 FTI Consulting (public relations adviser to Forterra):  +44 (0) 20 3727 1340
 Richard Mountain
 Nick Hasell

 

 

 

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