BARRATT DEVELOPMENTS PLC has released a notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated (PCAs) with them. In July 2022, a PCA of Steven Boyes, Chief Operating Officer & Deputy Chief Executive, was granted an award under the Barratt Developments PLC Employee Long Term Incentive Plan (ELTIP). This award vested on 1 July 2024 and was released to the PCA on 11 July 2024. The details of the award granted, the number of shares sold to cover the tax and national insurance due on release, and those retained by the PCA were provided.
Following the transaction, the Company confirmed that each of the Executive Directors and their PCAs hold a total number of options and awards over Ordinary Shares of 10 pence each in the Company. The Chief Executive, David Thomas, holds 1,071,607 shares under option and/or award, while Steven Boyes, Chief Operating Officer & Deputy Chief Executive, holds 866,731 shares, and Mike Scott, Chief Financial Officer, holds 551,789 shares.
Additionally, the Company confirmed that each of the Directors of the Company and their PCAs hold a total number of ordinary shares of 10 pence each in the Company. The Chief Executive, David Thomas, holds 1,326,830 shares, Steven Boyes, Chief Operating Officer & Deputy Chief Executive, holds 728,235 shares, and Mike Scott, Chief Financial Officer, holds 69,832 shares, among others.
The Notification of Dealing Forms for the above transaction was also provided, detailing the person discharging managerial responsibilities/person closely associated, the reason for the notification, details of the issuer, and the details of the transaction(s).
The transactions included the vesting of shares under the Barratt Developments Employee Long Term Incentive Plan and the sale of shares to cover tax and NI liability on the vesting of the Employee Long Term Incentive Plan. The transactions took place outside a trading venue on 11 July 2024.
This notification provides a comprehensive overview of the recent shareholding activities of the company's directors and associated persons, shedding light on the vesting of awards and the sale of shares to cover tax and NI liability.