Form 4: CRH Executive Juan Pablo San Agustin Reports Share Transactions Following Vesting of Performance and Time-Based Awards

Juan Pablo San Agustin, a Group Executive at CRH, reported the acquisition and disposal of ordinary shares related to the vesting of performance-based and time-based awards, along with a sale to cover tax liabilities.

Summary

• On March 3, 2025, Juan Pablo San Agustin, a Group Executive at CRH, reported transactions involving CRH ordinary shares.
• These transactions include the acquisition of 32,461 shares from the vesting of awards granted in 2022 under the 2014 Performance Share Plan Rules.
• An additional 3,698 shares were acquired from the vesting of a 2022 time-based conditional award under the 2014 Deferred Share Bonus Plan (DSB Plan Rules).
• 18,177 shares were sold to cover applicable withholding tax liabilities at a volume-weighted average price of $95.2306.
• Following these transactions, San Agustin beneficially owns 32,728 ordinary shares.
• He also holds deferred share awards for 9,171 ordinary shares that are expected to vest in the future.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and the achievement of performance goals, suggesting a neutral to slightly positive outlook.

Positives

• The vesting of performance-based awards suggests that pre-established performance goals were met by CRH.
• The executive's continued holding of a significant number of shares indicates confidence in the company's future performance.

Negatives

• The sale of shares to cover tax liabilities, while standard, reduces the executive's overall holdings.

Risks

• Future vesting of deferred share awards is subject to the determination of the Compensation Committee, introducing an element of uncertainty.
• Fluctuations in the share price could impact the value of the executive's holdings and future tax liabilities.

Future Outlook

The document mentions that additional awards of 4,119 shares and 2,952 shares are expected to vest in March 2026 and March 2027, respectively, subject to the determination of the Compensation Committee. Further time-based conditional awards will vest in March 2028.

Industry Context

Executive compensation through share-based awards is a common practice in publicly traded companies like CRH to align management's interests with those of shareholders. The vesting of these awards is typically tied to performance metrics and continued employment.

Comparison to Industry Standards

• Companies like Vulcan Materials Company (VMC) and Martin Marietta Materials (MLM), which are also major players in the construction materials industry, often use similar equity-based compensation plans for their executives.
• The vesting schedules and performance metrics associated with these plans vary, but the underlying principle of aligning executive compensation with shareholder value is consistent.
• The size of the awards and the proportion of shares sold for tax liabilities are within the typical range observed for executives at comparable companies.

Stakeholder Impact

• Shareholders: The vesting of performance-based awards suggests that the company is meeting its performance goals, which is generally positive for shareholders.
• Employees: The vesting of share awards can boost employee morale and align their interests with the company's success.
• Executive: The executive benefits from the vesting of the awards, but also faces tax liabilities.

Next Steps

• Future vesting of deferred share awards in March 2026, March 2027 and March 2028, subject to Compensation Committee determination.
• Reporting of dividend equivalents at the time of vesting.

Key Dates

Keywords

CRH, San Agustin, Ordinary Shares, Vesting, Performance Share Plan, Deferred Share Bonus Plan, Executive Compensation, Form 4, SEC Filing