8-K

CRH PUBLIC LTD CO 8-K Report (Apr 7, 2017)

Filed April 7, 2017For Securities:CRH

Summary

This Form 6-K filing by CRH Public Limited Company (CRH) on April 7, 2017, provides notifications of transactions by persons discharging managerial responsibilities and persons closely associated with them, as required by EU market abuse regulations. Specifically, it details the grant of options under a savings-related share option scheme to two key executives: Albert Manifold, Chief Executive, and Neil Colgan, Company Secretary. These grants represent stock options for CRH ordinary shares, with specific details on the number of options granted and the strike price. For investors, this filing primarily signals executive compensation and incentive structures. The grant of options at a specific price suggests management's belief in the future appreciation of the company's stock, aligning their interests with shareholders. Investors can consider this information when evaluating executive compensation and potential future dilution.

Key Highlights

  • 1Notification of transactions by Persons Discharging Managerial Responsibilities (PDMRs) and persons closely associated.
  • 2Albert Manifold, Chief Executive, received a grant of options under a savings-related share option scheme.
  • 3Neil Colgan, Company Secretary, also received a grant of options under the same scheme.
  • 4The financial instrument involved is Ordinary Shares of €0.32 each (ISIN: IE0001827041).
  • 5The transaction type was the grant of options under a savings-related share option scheme.
  • 6The grant date for both executives was April 6, 2017.
  • 7The option strike price was €27.86 per share.

Frequently Asked Questions

The primary purpose of this Form 6-K filing is to disclose transactions conducted by CRH's senior management (Persons Discharging Managerial Responsibilities) and individuals closely associated with them. This specific filing reports on the grant of share options to executives under an incentive scheme, as required by EU market abuse regulations.

Albert Manifold, the Chief Executive of CRH, was granted 1,085 options, and Neil Colgan, the Company Secretary, was granted 646 options. These options are for CRH ordinary shares.

The options were granted with a strike price of €27.86 per ordinary share. This means that the executives can purchase CRH shares at this price upon exercising their options, provided the terms and conditions of the scheme are met.

This filing indicates that CRH's senior leadership is being incentivized through equity. The grant of options suggests a positive outlook from management regarding the company's future stock performance, as the value of these options increases if the share price rises above the strike price. It's a common practice for aligning executive interests with shareholder value.