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Lloyds Banking Group (LLOY)

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Friday 09 March, 2012

Lloyds Banking Group

Director/PDMR Shareholding

RNS Number : 0804Z
Lloyds Banking Group PLC
09 March 2012
 



 

 

                                                                                                                                           9 March 2012

LLOYDS BANKING GROUP PLC ("GROUP") - NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES IN ORDINARY SHARES OF THE GROUP OF 10P EACH ("SHARES")

 

The following announcement sets out details of awards made today, 9 March 2012, under the Group's share plans to the Group Chief Executive and members of the Group Executive Committee.

 

Deferred Bonus Awards for 2011 Performance

Conditional awards of shares were made today in respect of bonus awards for 2011 performance.  Part of the 2011 bonus awards will be made in June 2012 based on the prevailing share price.  These shares will be notified at that time. Awards vesting over the period September 2012 to September 2015 are based on a share price of 34.786 pence and are detailed below.  Bonus awards are subject to performance adjustment in full or in part if the performance that generated the award is found not to be sustainable.

 

Name

Maximum number

of shares awarded

A Brittain

2,414,764

J Colombás

1,782,326

M Fisher

2,069,798

A Lorenzo

1,782,326

J Maltby

728,741

D Nicholson

436,957

A Risley

577,818

T Strauss

451,330

M Young

929,971

Long Term Incentive Plan - 2012 Awards

Conditional share awards were made today under the Group's Long Term Incentive Plan as detailed below.  The shares under the awards will only vest in 2015 subject to the satisfaction of stretching performance conditions over a three year period.    The awards are based on a share price of 34.786 pence.

 

Name

Maximum number

of shares awarded

A Horta-Osório

9,644,684

A Brittain

4,527,683

J Colombás

4,146,064

M Fisher

4,876,961

A Lorenzo

4,243,086

J Maltby

2,910,653

D Nicholson

2,587,247

A Risley

2,587,247

T Strauss

3,395,762

M Young

2,587,247

 

Emoluments of the eight Highest Paid Senior Executives

The following table sets out the Emoluments of the eight highest paid senior executives in respect of the 2011 performance year.  The disclosure is made on the same basis as the five highest paid senior executives for the 2010 performance year, as shown in the Annual Report and Accounts 2010.





















Employee




8


7


6


5


4


3


2


1




£000


£000


£000


£000


£000


£000


£000


£000



Fixed


















Cash based

342


480


310


233


754


941


956


500



Total fixed

342


480


310


233


754


941


956


500



Variable 1


















Upfront cash

2


2


2


2


2


2


2


2



Deferred cash

0


0


0


0


0


0


0


0



Upfront shares 2

20


0


0


332


0


205


320


0



Deferred shares

478


498


793


1,048


898


773


773


1,998



Long term incentive plan 3

270


144


199


473


509


433


443


150



Total variable pay

770


644


994


1,855


1,409


1,413


1,538


2,150



Pension cost 4

85


120


44


58


189


160


164


125



Total remuneration

1,197


1,244


1,348


2,146


2,352


2,514


2,658


2,775




















 

1

Variable pay in respect of performance year 2011

2

Award to compensate for loss of variable remuneration from previous employer which vested in 2011  

3

LTIP values shown are on an expected value basis

4

Pension cost based on an average pension cost of 25 per cent of salary

 

This announcement is made pursuant to Disclosure Rule 3.1.4. No consideration is payable for the grant of awards notified in this announcement. The transactions took place in the UK and the shares are listed on the London Stock Exchange.

 

For further information:

 

Press Office


Sarah Swailes, Group Media Relations

+44 (0)20 7661 4639

Email: sarah.swailes@lloydsbanking.com 




Investor Relations


Kate O'Neill

+44 (0)20 7356 3520

Managing Director, Investor Relations

Email: kate.o'neill@ltsb-finance.co.uk

 

 


This information is provided by RNS
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