REG - ITM Power PLC - Grants under Deferred Annual Bonus Plan

ITM PowerAnnouncement

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RNS Number : 1730A  ITM Power PLC  13 April 2026

13 April 2026

 

ITM Power plc

 

Grants under Deferred Annual Bonus Plan

 

ITM Power plc (the "Company") announces that on 10 April 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 71.375 pence, being the closing middle
market quotation as derived from the daily official list on 10 April 2026.

 

The awards are normally subject to a two-year vesting period from the date of
grant and were originally intended to be issued in August 2025. However, the
awards were delayed due to an extended close period in connection with the
recently announced Great British Energy Group Limited investment and
Department for Energy Security and Net Zero grant intention. As a result of
this, the vesting date will be 15 August 2027. This is to ensure the
participants are not disadvantaged due to the extended closed period.

 

As this award was derived from a portion of the participants' 2025 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     179,510
 Amy Grey, CFO          35,211
 Simon Bourne, CTO      94,571

 

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

 

Enquiries:

 ITM Power plc                                                                                      +44 (0)114 263 7646
 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   179,510
 d)              Aggregated information

                 - Aggregated volume                                          179,510

                 - Price                                                      NA

 e)              Date of the transaction                                      10 April 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          94,571
 d)   Aggregated information

      - Aggregated volume                                          94,571

      - Price                                                      NA

 e)   Date of the transaction                                      10 April 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          35,211
 d)   Aggregated information

      - Aggregated volume                                          35,211

      - Price                                                      NA

 e)   Date of the transaction                                      10 April 2026
 f)   Place of the transaction                                     Outside a trading venue

 

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