Grants under Deferred Annual Bonus Plan

ITM Power PLC

13 April 2026

 

13 April 2026

ITM Power plc

Grants under Deferred Annual Bonus Plan

ITM Power plc (the "Company") announces that on 10 April 2026 awards over ordinary shares of £0.05 each in the capital of the Company were granted to certain employees under the ITM Power PLC Deferred Annual Bonus Plan ("DBP").

No consideration is payable for the grant of the awards which are structured as nominal cost options at an option exercise price of £0.05 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of 71.375 pence, being the closing middle market quotation as derived from the daily official list on 10 April 2026. 

The awards are normally subject to a two-year vesting period from the date of grant and were originally intended to be issued in August 2025. However, the awards were delayed due to an extended close period in connection with the recently announced Great British Energy Group Limited investment and Department for Energy Security and Net Zero grant intention. As a result of this, the vesting date will be 15 August 2027. This is to ensure the participants are not disadvantaged due to the extended closed period.

As this award was derived from a portion of the participants' 2025 annual bonus entitlement, where certain performance conditions have been met, these awards are not conditional on the achievement of further performance conditions, other than the participant being a director or employee within the Company's group at the time of vesting.

The DBP awards granted to Executive Directors (who are Persons Discharging Managerial Responsibilities) are as follows:

Name of Director/PDMR	Number of Shares over which the DBP Award is granted
Dennis Schulz, CEO	179,510
Amy Grey, CFO	35,211
Simon Bourne, CTO	94,571

The notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.

Enquiries:

ITM Power plc			[phone]
Huan Quayle (Company Secretary) Justin Scarborough (Investor Relations)
Berenberg			[phone]
Ciaran Walsh, Harry Nicholas
J.P. Morgan Cazenove			[phone]
Richard Perelman, Charles Oakes
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dennis Schulz
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
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 financial instrument, type of instrument	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Issue of Options
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		Nominal cost option	179,510
d)	Aggregated information
	- Aggregated volume	179,510
	- Price	NA
e)	Date of the transaction	10 April 2026
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 Technology Officer
b)	Initial notification /Amendment	Initial Notification
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 financial instrument, type of instrument	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Issue of Options
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		Nominal cost option	94,571
d)	Aggregated information
	- Aggregated volume	94,571
	- Price	NA
e)	Date of the transaction	10 April 2026
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Amy Grey
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial Notification
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 financial instrument, type of instrument	Options over ordinary shares of 5p each
	Identification code	ISIN: GB00B0130H42
b)	Nature of the transaction	Issue of Options
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		Nominal cost option	35,211
d)	Aggregated information
	- Aggregated volume	35,211
	- Price	NA
e)	Date of the transaction	10 April 2026
f)	Place of the transaction	Outside a trading venue

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