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RNS Number : 5213A
Lloyds Banking Group PLC
24 March 2017
 

24 March 2017

 

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

 

This announcement should be read in conjunction with the Summary Remuneration Announcement and disclosures in the 2016 Annual Report and Accounts published on 22 February 2017. The 2016 Annual Report and Accounts is available on the 'Annual Reports' page in the 'Investors & Performance' section of the Group's website www.lloydsbankinggroup.com.

 

Group Chief Executive Deferred Bonus Award for 2013 Performance

As described in the Summary Remuneration Announcement, a Deferred Bonus Award is due to be released in 2017 to the Group Chief Executive which relates to performance in 2013.

 

In this respect, the Group announces that António Horta-Osório, today acquired, after the settlement of income tax and national insurance contributions, 1,085,157 Shares (for nil consideration) following the vesting of his 2013 Deferred Bonus Award. The Group Chief Executive is required to hold the Shares for a further two years.

 

Group Chief Executive Acquisition of Shares

As described in the Summary Remuneration Announcement, the form of the Group Chief Executive's increase in base salary will follow that for 2016, with 2 per cent delivered in cash (in line with other colleagues) and the remainder delivered  in Shares.

 

In this respect, the Group announces that, after the settlement of income tax and national insurance contributions, 14,029 Shares were acquired on 24 March 2017 on behalf of António Horta-Osório in respect of his January, February and March 2017 salary. The acquisition price was 68.471 pence per Share. 

 

Fixed Share Awards

This announcement details the number of Shares acquired by PDMRs in respect of the first quarter of 2017 under the Group's Fixed Share Award, as described in the Summary Remuneration Announcement. In this respect, the Group announces that, after the settlement of income tax and national insurance contributions, Shares were acquired on 24 March 2017 on behalf of the PDMRs as listed in the table below. The acquisition price was 68.471 pence per Share.

 

The Shares will be held on behalf of the PDMRs and will be released over five years, with 20 per cent being released each year on the anniversary of the award.

 

 

Name

Shares

António Horta-Osório

174,161

Juan Colombás

96,176

George Culmer

97,530

Andrew Bester

94,821

Karin Cook

78,566

Simon Davies

94,821

Antonio Lorenzo

96,718

Vim Maru

78,566

Zak Mian

78,566

David Oldfield

88,048

Matt Young

67,729

 

 

Exercise of options to acquire Shares 

Karin Cook, a PDMR, acquired 1,079,885 Shares, following the exercise of a share award (for nil consideration) on 22 March 2017. Karin Cook has retained all the Shares apart from 508,969 Shares which were sold (at 67.43 pence per Share) to meet income tax and national insurance contributions arising from the acquisition. Karin Cook is required to hold the Shares until 1 September 2017.

 

Transfer of shares

The Group announces that Karin Cook, a PDMR, transferred 118,031, Shares to her husband, Timothy Cook, a person closely associated with her, on 23 March 2017, who acquired the Shares for nil consideration.

 

Share Disposal

The Group announces that Andrew Bester, a PDMR, sold 100,066 Shares at 67.56 pence per Share and 122,870 Shares at 67.55 pence per Share on 23 March 2017.  Following the sale of Shares, Andrew Bester (and persons closely associated) holds 3,622,592 Shares, including Shares subject to holding periods of up to a further two years post vesting, and continues to comply with the Group's shareholding policy requirements.

 

 

ENQUIRIES:

 

Investor Relations

Douglas Radcliffe

Group Investor Relations Director

Email: douglas.radcliffe@finance.lloydsbanking.com

 

Group Corporate Affairs

Matt Smith

Head of Corporate Media

Email: matt.smith@lloydsbanking.com

 

+44 (0) 20 7356 1571

 

 

 

 

 

+44 (0) 20 7356 3522

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

António Horta-Osório

2

Reason for the notification

 

a)

Position/status

 

Group Chief Executive

b)

Initial notification / Amendment

 

Initial Notification

3

 

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

 

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

 

 

Acquisition of Shares - Gross number of Shares released for 2013 Deferred Bonus Award before sale of Shares for income tax and national insurance contributions (NICs).

.

Acquisition of Shares - Portion of the Group Chief Executive's increase in base salary delivered in Shares (as described in the Summary Remuneration Announcement) in respect of January, February and March 2017 salary.

 

Acquisition of Shares - In respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)


2013 Deferred Bonus Award (Gross)


GBP00.0000

2,047,466


Acquisition of Shares


GBP00.68471

14,029


Fixed Share Award


GBP00.68471

174,161







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

2,235,656

 

See 4(c)

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

London Stock Exchange (XLON)

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

 

 

Disposal of Shares on behalf of PDMR to meet income tax and NICs due on the release of 2013 Deferred Bonus Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.6840

962,309

 







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Juan Colombás

2

Reason for the notification

 

a)

Position/status

 

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

 

Lloyds Banking Group plc

b)

LEI

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

 

 

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

96,176







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

N/A (single transaction)

 

 

e)

 

Date of the transaction

 

24 March 2017

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

George Culmer

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

 

Lloyds Banking Group plc

b)

LEI

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)


Fixed Share Award

 


GBP00.68471

97,530







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Andrew Bester

2

Reason for the notification

 

a)

Position/status

 

Group Director & Chief Executive, Commercial Banking

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

 

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

94,821







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Disposal of Shares

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.6756

100,066




GBP00.6755

122,870







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

222,936

 

GBP00.6755

e)

Date of the transaction

 

23 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Karin Cook

2

Reason for the notification

 

a)

Position/status

 

Group Director Operations

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

 

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

78,566







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (Single transaction)

 

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares following the exercise of a share award (Gross) before sale of Shares for income tax and NICs.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.0000

1,079,885







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (Single transaction)

 

 

e)

Date of the transaction

 

22 March 2017

f)

Place of the transaction

 

Outside a trading venue

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Disposal of Shares on behalf of PDMR to meet income tax and NICs due on the exercise of share award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.6743

508,969







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

 

e)

Date of the transaction

 

22 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Transfer of Shares to her husband, Timothy Cook, a person closely associated, who acquired the Shares for nil consideration.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.0000

118,031







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

 

e)

Date of the transaction

 

23 March 2017

f)

Place of the transaction

 

Outside a trading venue

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Timothy Cook

2

Reason for the notification

 

a)

Position/status

 

A person closely associated with Karin Cook, a PDMR

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

 

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares for nil consideration from his wife, Karin Cook, a PDMR.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.00

118,031







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

 

e)

Date of the transaction

 

23 March 2017

f)

Place of the transaction

 

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Simon Davies

2

Reason for the notification

 

a)

Position/status

Chief People, Legal and Strategy Officer

 

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

94,821







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Antonio Lorenzo

2

Reason for the notification

 

a)

Position/status

 

Chief Executive, Scottish Widows and Group Director, Insurance

 

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

 

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

96,718







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Vim Maru

2

Reason for the notification

 

a)

Position/status

 

Group Director, Group Customer Products & Marketing

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

78,566







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Zak Mian

2

Reason for the notification

 

a)

Position/status

 

Group Director, Digital & Transformation

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

78,566







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

David Oldfield

 

2

Reason for the notification

 

a)

Position/status

 

Group Director, Retail and Consumer Finance

 

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

88,048







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

e)

Date of the transaction

 

24 March 2017

f)

Place of the transaction

 

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

 

Matt Young

 

2

Reason for the notification

 

a)

Position/status

 

Group Corporate Affairs Director

b)

Initial notification / Amendment

 

Initial Notification

3

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

 

a)

Name

 

Lloyds Banking Group plc

b)

LEI

549300PPXHEU2JF0AM85

 

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 10p each

 

 

 

GB0008706128

b)

Nature of the transaction

Acquisition of Shares in respect of the first quarter of 2017 under the Group's Fixed Share Award.

c)

Price(s) and volume(s)







Price(s)

 

Volume(s)




GBP00.68471

67,729







d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

N/A (single transaction)

 

e)

Date of the transaction

 

24 March 2017

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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