8-K

CRH PUBLIC LTD CO 8-K Report (May 10, 2016)

Filed May 10, 2016For Securities:CRH

Summary

This 8-K filing from CRH Public Limited Company (CRH) on May 9, 2016, primarily reports on transactions involving the shares of several Persons Discharging Managerial Responsibility (PDMRs) and their associated persons. The transactions predominantly involve the acquisition of ordinary shares through scrip dividends and conditional share awards, alongside some disposal of shares and exercise of options by senior management. Key individuals involved include Maeve Carton, Nicholas Hartery, Heather Ann McSharry, Albert Manifold, Senan Murphy, Henk Th. Rottinghuis, Mark Towe, and Neil Colgan. The price per share for scrip dividends and sales was €24.69, with conditional awards and options granted under the 2014 Performance Share Plan. These filings are made in accordance with Irish regulatory requirements and highlight ongoing equity-based compensation and shareholding adjustments among CRH's leadership.

Key Highlights

  • 1Multiple CRH executives and associated persons engaged in share transactions including scrip dividends, conditional share awards, and sale of shares.
  • 2Scrip dividends were acquired at a price of €24.69 per share.
  • 3Conditional share awards were granted under the 2014 Performance Share Plan, with vesting typically occurring five years after the grant date.
  • 4Albert Manifold exercised share options at €16.19 and sold shares at €25.27.
  • 5The filings indicate that these transactions are in compliance with Irish Market Abuse Rules and Irish Stock Exchange Listing Rule 6.10.
  • 6Neil Colgan, serving as the authorized officer for these notifications, is himself a PDMR and had transactions involving his spouse's holdings.
  • 7The filings detail changes in beneficial ownership and holdings, providing transparency on insider equity transactions.

Frequently Asked Questions

The filings report several types of transactions including the acquisition of shares through scrip dividends, conditional share awards granted under the 2014 Performance Share Plan, the exercise of share options, and the sale of shares. Some transactions also involve shares held by spouses or other associated persons.

For scrip dividends and shares sold, the price was €24.69 per ordinary share. For the exercise of share options by Albert Manifold, the exercise price was €16.19, and he subsequently sold shares at €25.27.

These indicate that a portion of executive compensation is tied to the company's performance and is awarded in the form of CRH ordinary shares. These awards typically vest over a period, in this case, generally five years from the grant date, subject to meeting performance criteria. This is a common long-term incentive for senior management.

Form 6-K is a report of foreign private issuers filed to provide material information that is required to be made public in their home country or that is made available to their security holders. In this case, CRH is notifying the SEC about insider share transactions as required by Irish regulations (Market Abuse Rules and Irish Stock Exchange Listing Rule 6.10).