Director/PDMR Shareholding

RNS Number : 5889R

Standard Life plc

12 September 2014

 



Standard Life plc

 ('the Company')

Notification of Interests of an Executive Director and another Person Discharging Managerial Responsibilities ('PDMRs')

On 10 and 12 September 2014, the Company granted to each of the individuals noted below awards under the following plans:

Group Long Term Incentive Plan (LTIP) - Awards in the form of nil-cost options ('2014 Group LTIP Awards') to acquire ordinary shares in the capital of the Company, subject to the rules of the Standard Life plc Executive Long Term Incentive Plan and pre-vesting performance conditions as defined in the deed of grant and summarised in the Directors' Remuneration Report in the Annual Report and Accounts 2013.

The Awards will normally vest on 10 September 2019, but only to the extent that the performance conditions have been met.  Once vested, an Award may be exercised in the 6 months thereafter.

No consideration is payable on the grant or vesting of any of the above Awards.  During the vesting periods, the above awards carry a right to receive dividend equivalents, to the extent that the awards vest.  Further information on the LTIP is available in the Directors' Remuneration Report in the Annual Report and Accounts 2013.

Standard Life Sharesave Plan (the Sharesave Plan) - Awards in the form of options over ordinary shares in the capital of the Company, subject to the rules of the Sharesave Plan, the terms of which were approved by shareholders at the Annual General Meeting held on 17 May 2011.

The option exercise price in respect of such options is £2.961 being, in accordance with the rules of the Sharesave Plan, 20 per cent below the average of the mid market price of the Company's shares on the five dealing days prior to the invitation date of 21 August 2014.  Permitted exercise periods are for a period of six months running from 1 November 2017 to 30 April 2018 for the 3 year scheme, and from 1 November 2019 to 30 April 2020 for the 5 year scheme, save where "good leaver" and change of control conditions apply.

	Number of Shares awarded under the LTIP	Number of Shares awarded under the Sharesave (2014)	Total number of outstanding Shares awarded under LTIPs, RSPs, Deferred Share and Sharesave
Executive Directors
Luke Savage	184,329	5,116	189,445
Other PDMRs
Alexander Hugh McCormack Begbie		3,039	498,423

This notice is given in fulfilment of obligations under DTR 3.1.4 (R).

12 September 2014

Enquiries:

Steven Hartley, Media Relations  0131 245 1365 / 07702 934 651

Kenneth Gilmour, Group Secretariat  0131 245 0751

 

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