Bellway p.l.c. (BWY), the UK housebuilder, has disclosed that two directors exercised nil-cost options under the Company's 2013 Performance Share Plan on 26 October 2026, with shares sold at an average price of £22.18 each. Chief Executive Jason Honeyman and Director Simon Scougall each exercised awards originally granted in October 2023, with 65.0% of each award vesting based on the Company's performance over the measurement period. Both directors sold a portion of their vested shares solely to meet income tax and National Insurance liabilities, retaining the majority of shares by transferring them to their respective spouses as closely associated persons.

Key Points

  • Bellway p.l.c. (BWY), a UK-listed residential housebuilder trading on the London Stock Exchange
  • Jason Honeyman and Simon Scougall exercised 2013 Performance Share Plan awards on 26 October 2026 at £22.18 per share
  • 65.0% of each award vested; Honeyman retained 28,503 shares and Scougall retained 6,916 shares, both transferred to spouses
  • Investors may watch for any further PDMR transactions or updates to Bellway's remuneration policy disclosures

Jason Honeyman Exercises 53,876 Shares Under Bellway's 2013 Performance Share Plan

Jason Honeyman, a Director and Person Discharging Managerial Responsibilities at Bellway, exercised an award over 53,876 shares — inclusive of dividend equivalent shares — under the 2013 Performance Share Plan. Of these, 25,373 shares were sold on the London Stock Exchange at £22.18 each to cover the income tax and National Insurance liability arising from the exercise. The remaining 28,503 shares were transferred at nil cost to Joanne Honeyman, his spouse, who is classified as a closely associated person under UK Market Abuse Regulations. The award had originally been granted in October 2023.

Simon Scougall Sells 6,158 Shares to Cover Tax Liability, Transfers Remainder to Spouse

Simon Scougall, also a Director and PDMR at Bellway, exercised his 2013 Plan award over a total of 13,074 shares, again including dividend accrual shares, at nil cost. He sold 6,158 shares on the London Stock Exchange at an average price of £22.18 to meet his income tax and National Insurance obligations. The remaining 6,916 shares were transferred at nil cost to Joanne Scougall, his spouse and closely associated person. Both Scougall's and Honeyman's transactions were conducted on 26 October 2026 and represent initial notifications filed in accordance with UK Market Abuse Regulations.

65.0% Vesting Reflects Bellway's Performance Measure Outcomes Over the Award Period

The announcement confirms that 65.0% of each award vested, consistent with Bellway's Remuneration Policy and based on the Company's measured performance over the relevant period since the October 2023 grant date. Bellway operates as a major UK residential housebuilder, constructing and selling homes across multiple regions of the United Kingdom. The 2013 Performance Share Plan forms part of the Company's long-term incentive framework for senior management. The fact that both directors retained a significant proportion of vested shares — rather than selling outright — may be noted by investors as indicative of continued alignment with shareholder interests, though the Company made no explicit statement to that effect.