Director/PDMR Shareholding

RNS Number : 1723W

Elementis PLC

13 April 2023

 

Elementis plc
('Elementis' or 'the Company')

Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Elementis plc announces that on 3 April 2023 the following Directors have been granted conditional share awards under the Elementis plc 2018 Long Term Incentive Plan (LTIP) with a vesting date of 3 April 2026 at a cost of nil pence per share.

Name	Title	Number of shares (Performance Share Awards)
Paul Waterman	Chief Executive Officer	1,350,978
Ralph Hewins	Chief Financial Officer	584,349

The above quantum of awards are as detailed in the 2022 Directors' Remuneration Report and are based on award multiples set at 200% and 175% of salary for both the Chief Executive and Chief Financial Officer respectively.

In addition, the Committee will retain discretion to reduce the number of shares on vesting should it be considered appropriate to do so (e.g. in the event that there was perceived windfall gain).

Subject to the terms of the LTIP plan rules, the above awards will vest and become exercisable from the third anniversary of the grant of the awards subject to continued service and to the extent to which the relevant performance conditions (see below) are satisfied over the three financial years ending 31 December 2025. Shares that vest (post selling any shares required to meet associated tax liabilities) are also subject to a two-year holding requirement.

Performance conditions

The full performance conditions to apply to the 2023 awards are as follows:

Earnings per share (33% weighting)

EPS	% ofEPS part vesting
Less than 13 cents	0%
13 cents	0%
17 cents	100%

Vesting will be on a straight-linebasisbetweenperformancepoints.

Relative Total Shareholder Return (33% weighting)

Elementis versus FTSE ALL Share Constituents (excluding Investment Trusts)	% of TSR part vesting
Below median	0%
Median	25%
Upper quartile	100%

Vesting will be on a straight-linebasisbetween the medianandupperquartile.

Operating Cash Conversion (33% weighting)

Three-year Operating CashConversion	% ofOperating Cash Conversion part vesting
Less than 80%	0%
80%	0%
100%	100%

Vesting will be on a straight-linebasisbetweenperformancepoints.

Vesting based on the above performance conditions will be subject to a return on capital employed underpin. This will require the Committee to consider the vesting result determined based on the application of the EPS, TSR and operating cash conversion performance conditions in light of the return on capital employed achieved during the three year period ending 31 December 2025 relative to the Board's internal plans over the period. If the Committee does not consider the vesting result appropriate in light of the return the underpin enables vesting to be reduced to a more appropriate level.

Set out below are the notifications made in accordance with Article 19 of the EU Market Abuse Regulation.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Na me	PAUL WATERMAN
2	Reaso n for the notification
a)	Position/status	CEO, DIRECTOR
b)	I nitial notification/Amendment	INITIAL NOTIFICATION
3	Deta ils of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Na me	ELEMENTIS PLC
b)	L E I	549300LQIH685LI2ML36
4	Deta ils 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)	Descriptio n of the financial instrument, type of instrument I d e ntification code	SHARES GB0002418548
b)	Nature of the transaction	Grant of a conditional share award over 1,350,978 shares under the Elementis plc 2018 Long Term Incentive Plan with a vesting date of 3 April 2026 at a cost of nil pence per share.
c)	Price(s ) and volume(s)	Price(s) Volume(s) N/A N/A
d)	Aggr e g ate d information
	- Aggregated volume - Price	N/A
e )	Date of the transaction	2023-04-03
f)	Place of the transaction	Outside of a trading venue

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Deta ils  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Na me	RALPH HEWINS
2	Reaso n for the notification
a)	Position/status	CFO, DIRECTOR
b)	I nitial notification/Amendment	INITIAL NOTIFICATION
3	Deta ils of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Na me	ELEMENTIS PLC
b)	L E I	549300LQIH685LI2ML36
4	Deta ils 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)	Descriptio n of the financial instrument, type of instrument I d e ntification code	SHARES GB0002418548
b)	Nature of the transaction	Grant of a conditional share award over 584,349 shares under the Elementis plc 2018 Long Term Incentive Plan with a vesting date of 3 April 2026 at a cost of nil pence per share.
c)	Price(s ) and volume(s)	Price(s) Volume(s) N/A N/A
d)	Aggr e g ate d information
	- Aggregated volume - Price	N/A
e )	Date of the transaction	2023-04-03
f)	Place of the transaction	Outside of a trading venue

Person responsible for making this notification: Anna Lawrence, Group General Counsel & Company Secretary

 

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