Director/PDMR Shareholding

Direct Line Insurance Group PLC
09 April 2024
 

Direct Line Insurance Group PLC

09 April 2024

 

DIRECT LINE INSURANCE GROUP PLC ("DLG")

 

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs")

 

9 April 2024

 

Following the appointment of Adam Winslow as Chief Executive Officer on 1 March 2024, a Restricted Share Award pursuant to Listing Rule 9.4.2 ("RSA") has been made to Mr Winslow over ordinary shares of 10 10/11 pence each in DLG. All remuneration arrangements are consistent with the terms of the Directors' Remuneration Policy approved by shareholders at the AGM in May 2023.

 

RSP Awards

The Remuneration Committee made the following awards to Mr Winslow to compensate him for remuneration arrangements forfeited on leaving Aviva. Performance conditions do not apply to these awards.

 

Scheme Replaced

Number of options awarded

Normal Vesting Date

a) Deferred Bonus 2021

84,953

84,953

8/4/2024

21/3/2025

b) Deferred Bonus 2022

83,726

83,726

83,727

8/4/2024

21/3/2025

20/3/2026

c) Deferred Bonus 2023

84,945

84,945

84,945

28/3/2025

27/3/2026

25/3/2027

 

 

Scheme Replaced

Number of options awarded

Normal Vesting Date

a) 2021 LTIP

796,940

8/4/2024

b) 2022 LTIP

629,816

21/3/2025

c) 2023 LTIP

692,721

20/3/2026

 

All RSP awards will accrue dividend equivalent shares until vesting.

 

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Adam Winslow

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer / PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Direct Line Insurance Group plc

b)

 

LEI

 

 

213800FF2R23ALJQOP04

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

 

Identification code

 

 

Ordinary shares of 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

Nil cost option restricted share award pursuant to Listing Rule 9.4.2 ("RSA"). Performance conditions do not apply to these awards.

 

c)

 

Price(s) and volume(s)

 

 

 

Price

Volume

Nil cost options

2,795,397

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

N/A   Single transaction

 

 

e)

 

Date of the transaction

 

 

5 April 2024

f)

 

Place of the transaction

 

 

Off market

 

For any enquiries relating to this announcement, please contact: 

 

Roger Clifton

Company Secretary

Email:  Roger.Clifton@directlinegroup.co.uk   

 

LEI: 213800FF2R23ALJQOP04

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