Travis Perkins Announces Executive Share Options and CFO Buyout Awards

Travis Perkins disclosed new share option awards and buyout awards for Chief Financial Officer Duncan Cooper as part of the company's Restricted Share Plan (RSP). On April 25, 2024, Cooper was granted 92,105 nil-cost options under the 2024 RSP Award. Calculations for the options were based on a £7.125 share price from the previous day's market close on the London Stock Exchange.

The options will vest after three years, with an additional two-year holding period before becoming exercisable. They remain exercisable up to ten years from the grant date. This award also includes adjustments for dividends, potentially increasing the number of shares based on reinvested dividends if any are distributed during the vesting period.

Separately, Cooper received CFO Buyout Awards, compensating for incentives forfeited from his previous employer, structured to mirror the lost awards. These include options for 2022 and 2023, with specific vesting dates in January 2025 and 2026 respectively. The buyout awards were based on comparative share prices between Travis Perkins and Crest Nicholson during January 2024, with the full face value of the forfeited awards ensuring equal compensation.

These financial maneuvers are in accordance with EU Market Abuse Regulation and are part of strategic employment agreements aimed at retaining key executives through competitive compensation packages that align their interests with company performance and shareholder value.