Ashtead Group plc announced on 21 June 2024 that it had made awards under its Long-Term Incentive Plan (LTIP). These awards comprise the conditional right to receive ordinary shares of 10p each, subject to continued employment and the achievement of challenging performance targets set by the Remuneration Committee. The company intends to utilize shares held by the Group's Employee Share Ownership Trust to fulfill any obligations to award shares to employees that may arise.
Executive directors, who were in their positions at the time the awards were made, are required to hold any vested shares, after selling sufficient shares to fund their tax liability, for a further two years from the date of vesting. The awards made to the executive directors include 59,390 ordinary 10p shares for Brendan Horgan and 26,333 ordinary 10p shares for Michael Pratt. The closing mid-market share price on the award date was 5,434p, and the exercise price for the awards is GBP1 for all ordinary shares to which the award relates. No consideration was paid for the grant of any of these awards.
For further information, individuals can contact Will Shaw at 020 7726 9761.