8-K

CRH PUBLIC LTD CO 8-K Report (Mar 3, 2023)

Filed March 3, 2023For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed a Form 6-K detailing a transaction involving its own shares on March 2, 2023. The company re-issued 256,507 ordinary shares from its treasury to the Trustees of the CRH plc Employee Benefit Trust. This transfer was executed at a price of €48.64 per share and is intended to satisfy vested awards under the CRH 2014 Performance Share Plan. This action is part of CRH's ongoing employee incentive programs and impacts the company's treasury stock and outstanding share count. Following this transaction, CRH now holds 9,562,749 ordinary shares in treasury. The total number of ordinary shares outstanding, excluding those held in treasury, stands at 742,577,589. Investors should note that this transaction does not represent a new issuance of equity into the market but rather a reallocation of existing shares for employee benefit purposes, which can affect earnings per share calculations.

Key Highlights

  • 1CRH re-issued 256,507 ordinary shares on March 2, 2023.
  • 2Shares were transferred to the CRH plc Employee Benefit Trust.
  • 3The purpose of the transfer is to satisfy vested awards under the CRH 2014 Performance Share Plan.
  • 4The transaction price was €48.64 per ordinary share.
  • 5CRH now holds 9,562,749 ordinary shares in treasury.
  • 6The number of ordinary shares outstanding (excluding treasury shares) is 742,577,589.

Frequently Asked Questions

The primary purpose was to re-issue treasury shares to the CRH plc Employee Benefit Trust to satisfy vested awards granted under the company's 2014 Performance Share Plan. This is a standard mechanism for fulfilling employee stock-based compensation obligations.

No, this transaction does not represent a new issuance of equity into the public market. It involves the transfer of shares that CRH already held in its treasury, meaning these shares are being reallocated internally for employee benefits.

This transaction slightly reduces the number of shares held in treasury and maintains the total number of outstanding shares, as these shares were already issued and held by the company. The number of outstanding shares (excluding treasury stock) remains 742,577,589.

The treasury share balance decreases by the number of shares re-issued (256,507), bringing the new total to 9,562,749. While this specific transaction is for employee benefits, changes in treasury stock can be relevant for share buyback programs or future equity issuances.