ITM Power PLC Director/PDMR Shareholding (0833W)
December 17 2021 - 9:29AM
UK Regulatory
TIDMITM
RNS Number : 0833W
ITM Power PLC
17 December 2021
17 December 2021
ITM Power PLC
Grants under Long Term Incentive Plan and Acquisition of Shares
by way of Inheritance
ITM Power PLC (the "Company") announces that on 16 December 2021
awards over ordinary shares of GBP0.05 each in the capital of the
Company were granted to all staff under the ITM Power PLC Long Term
Incentive Plan ("LTIP").
No consideration is payable for the grant of the awards, which
are structured as nominal cost options at an option exercise price
of GBP0.05 per ordinary share. The number of ordinary shares
granted under the award has been calculated using a share price of
394 pence, being the average mid-market quotation as derived from
AIM for the last 5 days of trading prior to close on 15 December
2021.
The awards are subject to a three-year vesting period (and for
the Executive Directors a further two-year holding period), as well
as to the achievement of performance conditions and the participant
being a director or employee within the Company's group at that
time.
The LTIP awards granted to Executive Directors (who are Persons
Discharging Managerial Responsibilities) are as follows:
Name of Director/PDMR Number of Shares over which the LTIP
Award is granted
----------------------- -------------------------------------
Graham Cooley 121,310
Andrew Allen 86,650
Simon Bourne 86,650
Rachel Smith 66,431
----------------------- -------------------------------------
Total awards granted 361,041
The vesting of an award is subject to the satisfaction of
performance conditions which have been set by the Remuneration
Committee of the Board of Directors of the Company. 60% of the
award is subject to the growth in the Company's total shareholder
return, 20% subject to the Company's MSCI ESG rating and the
remaining 20% subject to stretching financial metrics related to
revenue and gross margin performance.
The Company also announces that on 16 December 2021 Rachel Smith
received 379,880 ordinary shares of GBP0.05 each in the capital of
the Company by way of inheritance.
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
Helen Baker (Company Secretary)
James Collins (Investor Relations)
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Graham Cooley
------------------------------------- ------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------- ------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
Identification code ISIN: GB00B0130H42
------------------------------------- ------------------------------------------
b) Nature of the transaction Issue of nominal cost options
------------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------- --------------------
Nil 121,310
------------------------------------------ -------------------- --------------------
d) Aggregated information
- Aggregated volume 121,310
- Price Nil
------------------------------------------ ------------------------------------------
e) Date of the transaction 2021-12-16
------------------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Allen
------------------------------------- ------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
------------------------------------- ------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
Identification code ISIN: GB00B0130H42
------------------------------------- ------------------------------------------
b) Nature of the transaction Issue of nominal cost options
------------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------- --------------------
Nil 86,650
------------------------------------------ -------------------- --------------------
d) Aggregated information
- Aggregated volume 86,650
- Price Nil
------------------------------------------ ------------------------------------------
e) Date of the transaction 2021-12-16
------------------------------------- ------------------------------------------
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 Technical Officer
------------------------------------- ------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
Identification code ISIN: GB00B0130H42
------------------------------------- ------------------------------------------
b) Nature of the transaction Issue of nominal cost options
------------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------- --------------------
Nil 86,650
------------------------------------------ -------------------- --------------------
d) Aggregated information
- Aggregated volume 86,650
- Price Nil
------------------------------------------ ------------------------------------------
e) Date of the transaction 2021-12-16
------------------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rachel Smith
------------------------------------- ------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status Executive Director
------------------------------------- ------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------------- ------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
Identification code ISIN: GB00B0130H42
------------------------------------- ------------------------------------------
b) Nature of the transaction Issue of nominal cost options
------------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------- --------------------
Nil 66,431
------------------------------------------ -------------------- --------------------
d) Aggregated information
- Aggregated volume 66,431
- Price Nil
------------------------------------------ ------------------------------------------
e) Date of the transaction 2021-12-16
------------------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rachel Smith
------------------------------- ----------------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------
a) Position/status Executive Director
------------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------- ----------------------------------------------
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 Ordinary shares of 5p each
financial instrument,
type of instrument
Identification code ISIN: GB00B0130H42
------------------------------- ----------------------------------------------
b) Nature of the transaction Acquisition of shares by way of inheritance
------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- ---------------
Nil (transfer from
estate) 379,880
------------------------------------ ----------------------------- ---------------
d) Aggregated information
- Aggregated volume 379,880
- Price Nil (transfer from estate)
------------------------------------ ----------------------------------------------
e) Date of the transaction 2021-12-16
------------------------------- ----------------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
------------------------------- ----------------------------------------------
-ends-
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