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DIRECT LINE INSURANCE GROUP PLC ("DLG")
TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")
28 MARCH 2017
DLG announces the following changes in the interests of PDMRs in DLG's ordinary shares of 10 10/11 pence each ("Ordinary Shares").
Direct Line Insurance Group plc 2012 Long-Term Incentive Plan ("LTIP")
DLG granted options to acquire Ordinary Shares under the LTIP to the following PDMRs in respect of the financial year ending 31 December 2017. In accordance with the LTIP rules, the awards were granted on 27 March 2017 as nil-cost options and the market price used to calculate the number of nil cost options awarded was 336.17p per share.
|
PDMR |
Interest in Ordinary Shares held under the LTIP before the transaction |
Number of nil cost options over Ordinary Shares awarded |
Interest in Ordinary Shares under the LTIP following the transaction |
|
|
A |
B |
A+B |
|
Paul Geddes |
1,380,145 |
236,370 |
1,616,515 |
|
Jonathan Greenwood |
386,666 |
85,894 |
472,560 |
|
Mike Holliday-Williams |
684,569 |
160,069 |
844,638 |
|
Simon Linares |
286,352 |
82,325 |
368,677 |
|
Steve Maddock |
506,203 |
124,938 |
631,141 |
|
John Reizenstein |
1,699,187 |
143,054 |
1,842,241 |
|
Humphrey Tomlinson |
281,956 |
49,975 |
331,931 |
|
Jose Vazquez |
516,909 |
90,423 |
607,332 |
DLG's policy is to make awards twice a year following the announcement of DLG's full and half-year results respectively. The awards will vest on 27 March 2020, subject to the achievement of performance conditions attached to the awards, and remain exercisable until 26 March 2027. Dividend Equivalent Options will accrue up to the point of vesting, on those options that vest.
Direct Line Insurance Group plc Deferred Annual Incentive Plan ("DAIP")
DLG also granted options to acquire Ordinary Shares under the DAIP to the following PDMRs in respect of the financial year ended 31 December 2016. In accordance with the DAIP rules, the awards were granted on 27 March 2017 as nil-cost options and the market price used to calculate the number of nil cost options awarded was 336.17p per share.
|
PDMR |
Interest in Ordinary Shares held under DAIP before the transaction |
Number of nil cost options over Ordinary Shares awarded |
Interest in Ordinary Shares held under DAIP following the transaction |
|
|
A |
B |
A+B |
|
Paul Geddes |
357,319 |
70,713 |
428,032 |
|
Jonathan Greenwood |
118,775 |
31,163 |
149,938 |
|
Mike Holliday-Williams |
138,825 |
45,819 |
184,644 |
|
Simon Linares |
63,351 |
31,420 |
94,771 |
|
Steve Maddock |
153,389 |
37,053 |
190,442 |
|
John Reizenstein |
276,684 |
36,683 |
313,367 |
|
Humphrey Tomlinson |
71,579 |
15,893 |
87,472 |
|
Jose Vazquez |
123,986 |
54,643 |
178,629 |
The DLG Remuneration Committee makes awards under the DAIP annually once the outcome of the Annual Incentive Plan for eligible executives is determined. The awards will vest on 27 March 2020 and remain exercisable until 26 March 2027. Dividend Equivalent Options will accrue up to the point of vesting, on those options that vest.
For further information on DLG's remuneration policy and implementation of the policy please see our 2016 Directors' Remuneration Report which is available at: www.directlinegroup.com.
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
|
Paul Geddes ("PG") Jonathan Greenwood ("JG") Mike Holliday-Williams ("MHW") Simon Linares ("SL") Steven Maddock ("SM") John Reizenstein ("JR") Humphrey Tomlinson ("HT") Jose Vazquez ("JV")
|
|||||||||||
|
2
|
Reason for the notification
|
||||||||||||
|
a)
|
Position/status
|
PG - Chief Executive Officer / PDMR JG - Managing Director, Commercial / PDMR MHW - Managing Director, Personal Lines / PDMR SL - Human Resources Director / PDMR SM - Chief Operating Officer / PDMR JR - Chief Financial Officer / PDMR HT - General Counsel / PDMR JV - Chief Risk 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
|
Award of nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
|
|||||||||||
|
c)
|
Price(s) and volume(s)
|
|
|||||||||||
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A Single transactions for each PDMR
|
|||||||||||
|
e)
|
Date of the transaction
|
27 March 2017 |
|||||||||||
|
f)
|
Place of the transaction
|
The London Stock Exchange (XLON) |
|||||||||||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
||||||||||||
|
a)
|
Name
|
Paul Geddes ("PG") Jonathan Greenwood ("JG") Mike Holliday-Williams ("MHW") Simon Linares ("SL") Steven Maddock ("SM") John Reizenstein ("JR") Humphrey Tomlinson ("HT") Jose Vazquez ("JV")
|
|||||||||||
|
2
|
Reason for the notification
|
||||||||||||
|
a)
|
Position/status
|
PG - Chief Executive Officer / PDMR JG - Managing Director, Commercial / PDMR MHW - Managing Director, Personal Lines / PDMR SL - Human Resources Director / PDMR SM - Chief Operating Officer / PDMR JR - Chief Financial Officer / PDMR HT - General Counsel / PDMR JV - Chief Risk 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
|
Award of nil cost options under the Direct Line Insurance Group plc Deferred Annual Incentive Plan (the "DAIP")
|
|||||||||||
|
c)
|
Price(s) and volume(s)
|
|
|||||||||||
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A Single transaction for each PDMR |
|||||||||||
|
e)
|
Date of the transaction
|
27 March 2017 |
|||||||||||
|
f)
|
Place of the transaction
|
The London Stock Exchange (XLON) |
|||||||||||
For any enquiries relating to this announcement, please contact:
Simon Watson
Deputy Company Secretary
Telephone: 01651 831911
This information is provided by RNS
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