Last checked at 21 Mar 2023 10:00
21 March 2023
AVIVA PLC ("Aviva")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
Aviva announces that:
· On 20 March 2023, the undernoted PDMRs were granted conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan ("ABP") and the Aviva Long Term Incentive Plan ("LTIP"). The ABP awards represent the deferral for a period of three years of a percentage of the bonuses paid to PDMRs in respect of 2022. The Executive Director ABP and LTIP awards are also set out in the Directors' Remuneration Report published on 9th March 2023 in the 2022 Annual Report and Accounts.
· The ABP awards for the PDMRs will vest in three equal annual tranches in accordance with the plan rules.
· The LTIP awards for the PDMRs will vest in 2026 in accordance with the plan rules. LTIP awards for Executive Directors are subject to a two-year post-vesting holding period and therefore will be released in 2028. The LTIP award granted to Mark Versey, CEO of Aviva Investors, is subject to a six-month post-vesting holding period and therefore will be released in September 2026.
· The LTIP awards are subject to the achievement of financial and non-financial performance conditions (15% based on Solvency II Return on Equity, 25% based on cumulative cash remittances, 40% based on relative Total Shareholder Return against a comparator group, 7.5% based on Relationship Net Promoter Score gap to competition, 7.5% based on the reduction in CO2 intensity of shareholder assets and with-profit funds, 2.5% based on females in senior leadership roles and 2.5% based on ethnically diverse employees in senior leadership roles). Financial measures are subject to meeting or exceeding a Solvency II shareholder cover ratio of 160%. Performance will be measured over a three-year performance period from 1 January 2023 to 31 December 2025. The amounts shown below represent the maximum possible opportunity.
· The LTIP awards granted to Douglas Brown, CEO of UK & Ireland Life Insurance, and Mark Versey, Chief Executive Officer of Aviva Investors, are also subject to personal performance conditions, in line with Investment Firms Prudential Regime (IFPR) regulations. Individual performance is therefore considered at both the point of grant and also prior to any vesting.
· Under each of the ABP and LTIP awards, additional shares are awarded at vesting in lieu of dividends on the shares that vest.
· The awards were granted for nil consideration.
PDMRs | Number of ABP shares awarded | Number of LTIP Shares Awarded |
Amanda Blanc | 326,208 | 881,418 |
Douglas Brown | 103,300 | 302,200 |
Kirstine Cooper | 63,569 | 230,317 |
Charlotte Jones | 46,115 | 371,393 |
Jason Storah | 74,267 | 208,312 |
Mark Versey | 72,432 | 94,621 |
Adam Winslow | 89,853 | 302,200 |
This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
Media Enquiries:
Andrew Reid +44 (0)207 662 3131
Sarah Swailes +44 (0)207 662 6700
General Enquiries:
Kate Graham, Company Secretarial +44 (0) 7385 405380
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 | ||
a) | Name | Amanda Blanc | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 326,208 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
326,208 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Amanda Blanc | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 881,418 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil |
881,418 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Douglas Brown | |
2 | Reason for the notification | ||
a) | Position/status | CEO of UK & Ireland Life | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 103,300 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
103,300 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Douglas Brown | |
2 | Reason for the notification | ||
a) | Position/status | CEO of UK & Ireland Life | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 302,200 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
302,200 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 63,569 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
63,569 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 230,317 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
230,317 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Charlotte Jones | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 46,115 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
46,115 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Charlotte Jones | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 371,393 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
371,393 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Jason Storah | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer, Aviva Canada
| |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 74,267 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
74,267 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Jason Storah | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer, Aviva Canada
| |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 208,312 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
208,312 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Mark Versey | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 72,432 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
72,432 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Mark Versey | |
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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 94,621 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
94,621 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Adam Winslow | |
2 | Reason for the notification | ||
a) | Position/status | CEO of Aviva UK & Ireland General 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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 89,853 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
89,853 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |
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 | ||
a) | Name | Adam Winslow | |
2 | Reason for the notification | ||
a) | Position/status | CEO of Aviva UK & Ireland General 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
- GB00BPQY8M80 | |
b) | Nature of transaction | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 302,200 | ||
d) | Aggregated information - Aggregated volume - Price
|
Nil
|
302,200 |
e) | Date of the transaction | 2023-03-20 | |
f) | Place of the transaction | Outside a trading venue | |