Summary
CRH Public Limited Company (CRH) has filed a Form 6-K detailing a transaction by a person discharging managerial responsibilities. Specifically, Neil Colgan, the Company Secretary, had an award of ordinary shares vest under the CRH plc 2014 Performance Share Plan. Following the vesting, a portion of these shares were sold to cover the associated tax liabilities.
Key Highlights
- 1Notification concerns a transaction by Neil Colgan, Company Secretary of CRH plc.
- 2Transaction involved the vesting of 7,267 ordinary shares awarded under the CRH plc 2014 Performance Share Plan.
- 3Subsequent to vesting, 25,397 shares were sold at a price of €22.75 per share.
- 4The sale of shares was to cover tax liabilities arising from the share award vesting.
- 5The transaction date was March 30, 2020, and took place in Dublin, Ireland.
- 6This filing is a requirement under Article 19 of the EU Market Abuse Regulation for disclosure of transactions by persons in managerial positions.
Frequently Asked Questions
The transaction involved the vesting of performance share awards granted to a person discharging managerial responsibilities (Company Secretary Neil Colgan) and the subsequent sale of some of these shares to cover associated tax obligations.
Neil Colgan is the Company Secretary of CRH plc, a position that falls under the category of 'person discharging managerial responsibilities' for regulatory disclosure purposes.
The shares sold to cover tax liabilities were transacted at a price of €22.75 per share.
This specific transaction is a standard procedure to satisfy tax obligations resulting from the vesting of equity awards. It is not necessarily indicative of a negative outlook on the company's stock performance, as the sale is directly linked to the tax event of the award.