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Last checked at 
17 May 2022 17:30
Hiscox Ltd
(the 'Company')
Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMR')
Hamilton, Bermuda (17 May 2022) - Following Paul Cooper's appointment as Group Chief Financial Officer taking affect, awards ("Awards") were granted on 16 May 2022 to Mr Cooper under the terms of the Company's Performance Share Plan ("Performance Share Plan") to acquire ordinary 6.5p shares ("Shares") in the capital of the Company.
Mr. Cooper received an Award over 141,646 Shares, subject to the achievement of performance conditions measured over the three financial years from 1 January 2022 to 31 December 2024. The performance conditions are aligned with those which apply to the executive director awards granted on 8 April 2022. Subject to the satisfaction of the performance conditions, the Award will vest on the third anniversary of grant, and the shares acquired are subject to a further two year holding period.
In addition, Mr Cooper received a "buy-out" award over 167,036 Shares to compensate him for the loss of awards that he had in place with his previous employer. This award is not subject to performance conditions and will vest in tranches on the dates, and over the number of shares, detailed below. Vesting is subject to Mr Cooper's continued employment. No additional holding provisions apply to the shares once acquired.
Vesting Date Number of Shares
19 September 2022 26,274
3 April 2023 86,780
1 April 2024 42,945
1 April 2025 11,037
The notifications set out below are made in accordance with the UK version of the EU Market Abuse Regulation (2014/596/EU) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
Marc Wetherhill
Company Secretary
Hiscox Ltd
+ 1 441 278 8300
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
a)
| Name
| Paul Cooper
| ||||||
2
| Reason for the notification
| |||||||
a)
| Position/status
| PDMR - Chief Financial Officer, Hiscox Group
| ||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||
a)
| Name
| Hiscox Ltd | ||||||
b)
| LEI
| 5493007JXOLJ0QCY2D70 | ||||||
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 6.5p each
ISIN: BMG4593F1389
| ||||||
b)
| Nature of the transaction
| Grant of performance-based award over shares under the Company's Performance Share Plan | ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||||
e)
| Date of the transaction
| 2022-05-16 | ||||||
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 6.5p each
ISIN: BMG4593F1389
| ||||||
b)
| Nature of the transaction
| Grant of buy-out award over shares under the Company's Performance Share Plan | ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||||
e)
| Date of the transaction
| 2022-05-16 | ||||||
f)
| Place of the transaction
| Outside a trading venue | ||||||
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