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-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHEALAXFEDFFFA

(END) Dow Jones Newswires

December 17, 2021 10:29 ET (15:29 GMT)

Itm Power (LSE:ITM)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Itm Power Charts.
Itm Power (LSE:ITM)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Itm Power Charts.