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Aviva PLC (AV.)

  Print      Mail a friend       Annual reports

Tuesday 28 March, 2017

Aviva PLC

Director/PDMR Shareholding - vesting of awards

RNS Number : 7352A
Aviva PLC
28 March 2017
 

28 March 2017

 

AVIVA PLC ("Aviva")

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")

 

Aviva announces that:

 

Aviva Annual Bonus Plan 2011 (ABP) and the Aviva Long Term Incentive Plan 2011 (LTIP)

 

·      On 24 March 2017, in London, and in line with the normal timetable, the following PDMRs received Aviva ordinary shares of 25 pence each (Shares) following the vesting of awards granted in 2014 under the ABP and the LTIP (the Plans). Disposals have also been made, including to cover the cost of taxes and sales fees, as set out below.

 

Name

ABP or LTIP

Price at which Shares granted

(pence)

Shares received from ABP or LTIP awards

No. of Shares sold to cover taxes and costs

Other disposal of shares

No. of Shares retained net of taxes and costs

Price at which Shares sold

(pence)

Mark Wilson

ABP

LTIP

489p

489p

170,780

282,129

80,694

133,070

90,086

0

0

149,059

525p

525p


Nitinbhai

Amin

ABP

LTIP

489p

489p

40,945

76,769

19,317

36,213

0

0

21,628

40,556

525p

525p

Kirstine Cooper

ABP

LTIP

489p

489p

45,541

67,173

21,519

31,687

24,022

0

0

35,486

525p

525p

Angela Darlington

ABP

LTIP

489p

489p

12,417

21,591

5,857

10,184

0

0

6,560

11,407

525p

525p

Euan Munro

LTIP

489p

 

95,962

45,261

0

50,701

525p

525p

Tom

Stoddard

LTIP

489p

 

142,747

67,327

0

75,420

525p

 

Maurice Tulloch

ABP

LTIP

489p

489p

48,213

99,560

25,933

53,486

22,280

0

0

46,074

525p

525p

 

·      Following this transaction, Mark Wilson maintains a shareholding equivalent of 312% of his salary, using the share price at release of £5.25, with a current total shareholding of 599,929. Shareholding requirement for Mark is 300%. The other PDMRs selling have also met their shareholding requirement.

 

·      As disclosed in the Aviva Annual Report, published on 28 March 2017, these shares vested in accordance with the rules of the Plans and following performance testing of the LTIP award. The ABP awards that vested represented the deferral of two thirds of the bonus awarded in 2014. The grant of awards under the LTIP was for nil consideration.  The LTIP award vested at 41.3% following testing of Return on Equity (ROE) and Total Shareholder Return (TSR) performance factors, over a three year period (1 January 2014 to 31 December 2016).

 

·      The awards under the ABP and LTIP were granted at a price of £4.89 per share which was based on the average share price of an Aviva ordinary share for 3 days prior to the date of grant.  

 

·      The releases under the ABP and LTIP include additional Shares received in lieu of dividends, which are subject to tax.

 

Aviva Recruitment and Retention Share Award Plan (RRSAP)

 

·      Also on 24 March 2017 the following PDMRs received Shares following the vesting of awards granted under the RRSAP. Awards granted under RRSAP were made to replace, on a like for like basis, deferred compensation forfeited on resignation from previous employers.

 

Name

Price at which Shares granted

(pence)

Shares received RRSAP awards

No. of Shares sold to cover taxes and costs

No. of Shares received net of taxes and costs

Price at which Shares sold

(pence)

Chris Wei

530p

530p

129,021

8,859

18,340

1,259

110,681

7,600

 

525p

525p

 

·      These Shares vested in accordance with the rules of the RRSAP. The grant of awards under the RRSAP was for nil consideration.  The awards under the RRSAP were granted at a price of £5.30 per share, which was based on the average share price of an Aviva ordinary share for 3 days prior to the date these individuals joined the company.  

 

·      The releases under the RRSAP include additional Shares received in lieu of dividends, which are subject to tax.

 

·      The award for Mr Wei is as announced 24 March 2015. 

 

This announcement is made pursuant to Article 19 of the EU Market Abuse Regulation 596/2014. Aviva was notified of the above transactions on 24 March 2017.

 

 

Media Enquiries:

Andrew Reid                                                         +44 (0)7800 694276

 

General Enquiries:

Elena Petrou, Company Secretarial                                 +44 (0)207 662 1268

 

 



Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

MARK WILSON

2

Reason for the notification

a)

Position/status

GROUP CHIEF EXECUTIVE OFFICER

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 170,780 ABP 2014 SHARES AND 282,129 LTIP 2014 SHARES.

 

213,764 SHARES SOLD TO COVER TAX AND DISPOSAL OF 90,086 SHARES LEAVING BALANCE OF 149,059 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.       Nil Consideration

 

2.       £5.25

452,909

 

 

303,850

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £1,595,212.50

 

 

 

452,909

 

 

303,850

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

NITINBHAI AMIN

2

Reason for the notification

a)

Position/status

GROUP CHIEF OPERATIONS AND IT OFFICER

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 40,945 ABP 2014 SHARES AND 76,769 LTIP 2014 SHARES.

 

55,530 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 62,184 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.         Nil Consideration

 

2.       £5.25

117,714

 

 

55,530

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £291,532.50

 

 

 

117,714

 

 

55,530

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

KIRSTINE COOPER

2

Reason for the notification

a)

Position/status

GROUP GENERAL COUNSEL AND COMPANY SECRETARY

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 45,541 ABP 2014 SHARES AND 67,173 LTIP 2014 SHARES.

 

53,206 SHARES SOLD TO COVER TAX AND DISPOSAL OF 24,022 SHARES LEAVING BALANCE OF 35,486 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.         Nil Consideration

 

2.       £5.25

112,714

 

 

77,228

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £405,447

 

 

 

112,714

 

 

77,228

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

ANGELA DARLINGTON

2

Reason for the notification

a)

Position/status

GROUP CHIEF RISK OFFICER

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 12,417 ABP 2014 SHARES AND 21,591 LTIP 2014 SHARES.

 

16,041 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 17,967 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.       Nil Consideration

 

2.       £5.25

34,008

 

 

16,041

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £84,215.25

 

 

 

34,008

 

 

16,041

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

EUAN MUNRO

2

Reason for the notification

a)

Position/status

CHIEF EXECUTIVE OFFICER, AVIVA INVESTORS

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 95,962 LTIP 2014 SHARES.

 

45,261 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 50,701 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.       Nil Consideration

 

2.       £5.25

95,962

 

 

45,261

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £237,620.25

 

 

 

95,962

 

 

45,261

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

THOMAS STODDARD

2

Reason for the notification

a)

Position/status

CHIEF FINANCIAL OFFICER

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 142,747 LTIP 2014 SHARES.

 

67,327 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 75,420 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.       Nil Consideration

 

2.       £5.25

142,747

 

 

67,327

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £353,466.75

 

 

 

142,747

 

 

67,327

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

MAURICE TULLOCH

2

Reason for the notification

a)

Position/status

CHIEF EXECUTIVE OFFICER, INTERNATIONAL INSURANCE

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 48,213 ABP 2014 SHARES AND 99,560 LTIP 2014 SHARES.

 

79,419 SHARES SOLD TO COVER TAX AND DISPOSAL OF 22,280 SHARES LEAVING BALANCE OF 46,074 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.       Nil Consideration

 

2.       £5.25

147,773

 

 

101,699

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £533,919.75

 

 

 

147,773

 

 

101,699

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 



 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

CHRIS WEI

2

Reason for the notification

a)

Position/status

EXECUTIVE CHAIRMAN OF ASIA AND FPI AND GLOBAL CHAIRMAN OF AVIVA DIGITAL

b)

Initial notification/Amendment

INITIAL NOTIFICATION

3

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

a)

Name

AVIVA PLC

b)

LEI

YF0Y5B0IB8SM0ZFG9G81

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

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

VESTING OF 137,880 RRSAP SHARES.

 

19,599 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 118,281 SHARES RETAINED.

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

1.       Nil Consideration

 

2.       £5.25

137,880

 

 

19,599

d)

Aggregated information

-     Aggregated volume

-     Price

 

1. - £0.00 per share

- Total Price £0.00

 

2. - £5.25 per share

-         Total Price £102,894.75

 

 

 

137,880

 

 

19,599

e)

Date of the transaction

2017-03-24

f)

Place of the transaction

LONDON STOCK EXCHANGE, XLON

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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