28th Oct 2026 13:00
28 October 2026
ITM Power plc
(the “Company”)
Long Term Incentive Plan – vesting of option awards
ITM Power announces the vesting of an aggregate of 431,157 historically awarded share options to the PDMRs below under the Company’s Long Term Incentive Plan (“LTIP”):
Name of Director/PDMR | Number of vested options | Exercise expiry |
Dennis Schulz, CEO | 298,494 | 25 October 2033 |
Simon Bourne, CTO | 132,663 | 25 October 2033 |
The terms of the LTIP were previously announced by the Company on 30 October 2023.
The vested options may be exercised at an option exercise price of £0.05 per ordinary share at any time prior to the exercise expiry date.
The notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
Enquiries:
ITM Power plc | +44 (0)114 244 5111 |
Huan Quayle (Company Secretary) Justin Scarborough (Investor Relations) |
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Berenberg | +44 (0)20 3207 7800 |
Ciaran Walsh, Harry Nicholas |
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J.P. Morgan Cazenove | +44 (0)20 7742 4000 |
Richard Perelman, Charles Oakes |
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1
| Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Dennis Schulz | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer | |
b) | Initial notification /Amendment | Initial Notification | |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | ITM Power plc | |
b) | LEI | 21380042MB2JKZ6RRP12 | |
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a)
| Description of the financial instrument, type of instrument | Options over ordinary shares of 5p each | |
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Identification code | ISIN: GB00B0130H42 | ||
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b) | Nature of the transaction | Vesting of awards under the 2020 Long Term Incentive Plan | |
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) | |
| Nil | 298,494 | |
d)
| Aggregated information |
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- Aggregated volume | 298,494 | ||
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- Price | NA | ||
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e) | Date of the transaction | 26 October 2026 | |
f) | Place of the transaction | Outside a trading venue | |
1
| Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Simon Bourne | |
2 | Reason for the notification | ||
a) | Position/status | Chief Technology Officer | |
b) | Initial notification /Amendment | Initial Notification | |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | ITM Power plc | |
b) | LEI | 21380042MB2JKZ6RRP12 | |
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a)
| Description of the financial instrument, type of instrument | Options over ordinary shares of 5p each | |
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Identification code | ISIN: GB00B0130H42 | ||
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b) | Nature of the transaction | Vesting of awards under the 2020 Long Term Incentive Plan | |
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) | |
| Nil | 132,663 | |
d)
| Aggregated information |
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- Aggregated volume | 132,663 | ||
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- Price | NA | ||
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e) | Date of the transaction | 26 October 2026 | |
f) | Place of the transaction | Outside a trading venue | |
About ITM Power plc:
ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.
With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.
Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.
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