Director/PDMR Shareholding

RNS Number : 9985W
Legal & General Group Plc
24 April 2019
 

Legal & general group plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

 

The following notification made under articles 19.1 and 19.3 of the Market Abuse Regulation ("MAR") relates to:

·      the exercise of an award granted on 11 June 2014 under the terms of the Legal & General Group Performance Share Plan 2014 (PSP 2014);

·      the exercise of an award granted on 14 April 2015 under the terms of the Legal & General Group Performance Share Plan 2015 (PSP 2015); and

·      the exercise of an award granted on 21 April 2016 under the terms of the Legal & General Group Performance Share Plan 2016 (PSP 2016).

The performance conditions attached to the PSP 2014 award provide that one third of the vested options become exercisable subject to the 2016 results with the second third becoming exercisable after the announcement of the 2017 results and the remaining third after the announcement of the 2018 results.  PSP 2014 awards must be exercised by the seventh anniversary of the date of grant.

The performance conditions attached to the PSP 2015 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the results for 2017 with one third of vested options becoming exercisable immediately, the second third becoming exercisable after the announcement of the 2018 results and the remaining third after the announcement of the 2019 results.  PSP 2015 awards must be exercised by the seventh anniversary of the date of grant.

The performance conditions attached to the PSP 2016 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the 2018 results. One third of the vested options will be exercisable immediately with the second third becoming available after the announcement of the 2019 results and the remaining third after the announcement of the 2020 results. Options must be exercised by the seventh anniversary of the date of grant.

 

Name

Director/ PDMR

Number of shares awarded on 11 June 2014

Number of shares awarded on 14 April 2015

Number of shares awarded on 21 April 2016

Number of shares exercised on 23 April 2019

Total shares sold

Shares retained by individual

Nigel Wilson

Director

215,672

 

159,576

 

148,282

 

523,530

523,530

0

 

 

 

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nigel Wilson

2

Reason for the notification

a)

Position/status

Group Chief Executive/Director

 

b)

Initial notification/Amendment

Initial Notification

3

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

a)

Name

Legal & General Group Plc

b)

LEI

213800JH9QQWHLO99821

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 £0.025 each, with voting rights attached

 GB0005603997

b)

Nature of transaction

1.   Exercise of PSP 2014, PSP 2015 and PSP 2016 award of nil cost options over 523,530 shares.

2.   Sale of 523,530 shares.

c)

 

Price(s) and volume(s)

 

Price(s)

Volume

1.   Nil cost

1.   523,530

2.   £2.910

2.   523,530

d)

Aggregated information

-      Aggregated volume

-      Price

1.   Price

1.   Volume

1.   Total

1.   £0.00

1.   523,530

1.   £0.00




2.   Price

2.   Volume

2.   Total

2.   £2.910

2.   523,530

2.   £1,523,472.30

 

e)

Date of the transaction

23 April 2019

f)

Place of the transaction

London Stock Exchange, XLON

 

 

24 April 2019

 

Daniella Newson

Assistant Company Secretary

Legal & General Group Plc

Tel: 0203 124 2107

 

 

 


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