Overview of Share Options Exercise#
Henry Boot PLC has announced that eight of its senior executives exercised nil-cost options on ordinary shares under the company’s 2015 Long Term Incentive Plan (LTIP). This plan is designed to reward executives based on the company’s performance over time.
Details of Share Allocations#
Chief Executive Officer Timothy Andrew Roberts received 27,711 shares, while Chief Financial Officer Darren Louis Littlewood received 14,569 shares. These awards were granted on April 26, 2023, and will vest based on specific performance conditions over the three financial years ending December 31, 2025. Other executives who received shares include: - Rachel Evelyn White (People Director): 3,110 shares - Steven Anthony Stacey (Chief Operating Officer): 1,295 shares - Jonathan Mark Fisher (Managing Director): 4,265 shares - Edward James Hutchinson (Managing Director): 7,357 shares - Iain Crawford MacSween (Managing Director): 1,671 shares - Jaimie Louise Read (Company Secretary): 285 shares
The totals include shares equivalent to dividends.
Sale of Shares for Tax Liabilities#
The shares were transferred from the company’s Employee Benefit Trust. After receiving their shares, each executive sold a portion on the London Stock Exchange to cover tax and national insurance liabilities resulting from the vesting of these options. For instance, Roberts sold 13,070 shares at a price of £1.734676 per share, totaling £22,672.22. Other executives also sold varying amounts of shares to meet their tax obligations: - Littlewood: 6,872 shares for £11,920.69 - White: 1,321 shares for £2,291.51 - Stacey: 624 shares for £1,082.44 - Fisher: 2,019 shares for £3,502.31 - Hutchinson: 3,473 shares for £6,024.53 - MacSween: 800 shares for £1,387.74 - Read: 135 shares for £234.18
Regulatory Compliance#
These transactions were disclosed in compliance with EU Market Abuse Regulation requirements, ensuring transparency in the dealings of company executives. Henry Boot PLC ordinary shares are traded under ISIN GB0001110096.