Director/PDMR Shareholding
21 October 2026
ITM Power plc
Grants under Deferred Annual Bonus Plan and vesting of options under existing awards
ITM Power plc (the "Company") announces that on 20 October 2026 awards over ordinary shares of £0.05 each in the capital of the Company were granted to certain employees under the ITM Power plc Deferred Annual Bonus Plan ("DBP").
No consideration is payable for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.05 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of 86 pence, being the closing middle market quotation as derived from the daily official list on 20 October 2026.
The awards are subject to a two-year vesting period. As this award was derived from a portion of the participants' 2026 annual bonus entitlement, where certain performance conditions have been met, these awards are not conditional on the achievement of further performance conditions, other than the participant being a director or employee within the Company's group at the time of vesting.
The DBP awards granted to Executive Directors (who are Persons Discharging Managerial Responsibilities) are as follows:
Name of Director/PDMR
Number of Shares over which the DBP Award is granted
Dennis Schulz, CEO
141,352
Amy Grey, CFO
78,271
Simon Bourne, CTO
80,015
The Company also announces the vesting of an aggregate of 823,529 historically awarded share options to the PDMRs below in relation to the DBP and CEO discretionary award under the Company's Long Term Incentive Plan ("LTIP"):
Name of Director/PDMR
Incentive plan
Number of vested options
Exercise Expiry
Dennis Schulz, CEO
DBP
239,183
27 August 2034
LTIP
433,333
15 April 2036
Simon Bourne, CTO
DBP
151,013
27 August 2034
The terms of the LTIP were previously announced by the Company on 17 April 2026. The vesting represents the first tranche of three, with the associated performance conditions having been achieved in full for this tranche.
The vested options for both the DBP and LTIP may be exercised at an option exercise price of £0.05 per ordinary share at any time prior to the exercise expiry date.
The notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
Enquiries:
ITM Power plc
+44 (0)114 244 5111
Huan Quayle (Company Secretary)
Justin Scarborough (Investor Relations)
Berenberg
+44 (0)20 3207 7800
Ciaran Walsh, Harry Nicholas
J.P. Morgan Cazenove
+44 (0)20 7742 4000
Richard Perelman, Charles Oakes
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Dennis Schulz
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
ITM Power plc
b)
LEI
21380042MB2JKZ6RRP12
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
Options over ordinary shares of 5p each
Identification code
ISIN: GB00B0130H42
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nominal cost option
141,352
d)
Aggregated information
- Aggregated volume
141,352
- Price
NA
e)
Date of the transaction
20 October 2026
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Simon Bourne
2
Reason for the notification
a)
Position/status
Chief Technology Officer
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
ITM Power plc
b)
LEI
21380042MB2JKZ6RRP12
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
Options over ordinary shares of 5p each
Identification code
ISIN: GB00B0130H42
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nominal cost option
80,015
d)
Aggregated information
- Aggregated volume
80,015
- Price
NA
e)
Date of the transaction
20 October 2026
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Amy Grey
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
ITM Power PLC
b)
LEI
21380042MB2JKZ6RRP12
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
Options over ordinary shares of 5p each
Identification code
ISIN: GB00B0130H42
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nominal cost option
78,271
d)
Aggregated information
- Aggregated volume
78,271
- Price
NA
e)
Date of the transaction
20 October 2026
f)
Place of the transaction
Outside a trading venue
-ends-
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