Last checked at 20 Apr 2022 17:00
Legal & general group plc
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
The following notification made under article 19.1 and 19.3 of the UK Market Abuse Regulation ("UK MAR") relates to the vesting of conditional and restricted shares awarded on 16 April 2019. These shares vested on 16 April 2022 and were released under the terms of the Legal & General Group 2010 Share Bonus Plan (SBP), in respect of the Directors below. Under the plan provisions, the default of selling sufficient shares to cover tax liabilities and retention of the remaining shares is applied if no election is received from participants.
Name | Director/ PDMR | Number of shares awarded on 16 April 2019 | Number of shares vested on16 April 2022
| Shares sold to cover tax and social security at a price of £2.744 | Remaining shares sold at a share price of £2.744 | Shares retainedby individual |
Nigel Wilson | Director | 239,777 | 239,777 | 115,693 | 124,084 | 0 |
Jeff Davies | Director | 136,838 | 136,838 | 66,025 | 0 | 70,813 |
Kerrigan Procter | PDMR | 132,945 | 132,945 | 64,146 | 0 | 68,799 |
Emma Hardaker-Jones | PDMR | 30,733 | 30,733 | 14,830 | 15,903 | 0 |
Chris Knight | PDMR | 63,914 | 63,914 | 30,839 | 0 | 33,075 |
Geoffrey Timms | PDMR | 38,385 | 38,385 | 18,521 | 0 | 19,864 |
Stephen Licence | PDMR | 27,485 | 27,485 | 13,262 | 0 | 14,223 |
John Godfrey | PDMR | 15,783 | 15,783 | 7,616 | 0 | 8,167 |
Catherine Mason | PDMR | 78,052 | 78,052 | 37,661 | 0 | 40,391 |
Bernard Hickman | PDMR | 37,753 | 37,753 | 18,216 | 0 | 19,537 |
The following notification also relates to the exercise of awards granted on 18 April 2017 under the terms of the Legal & General Group Performance Share Plan 2014 (PSP).
The performance conditions attached to the options granted under the PSP in 2017 provided that the award vested, subject to satisfaction of the performance conditions, after the announcement of the results for 2019 with one third of vested options becoming exercisable immediately, the second third becoming exercisable after the announcement of the 2020 results and the remaining third after the announcement of the 2021 results. The options must be exercised by the seventh anniversary of the date of the grant.
Name | Director/ PDMR | Number of shares awarded on18 April 2017 | Number of shares exercised on 14 April 2022 | Shares sold to cover tax and social security at a share price of £2.744 | Remaining shares sold at a share price of £2.744 | Shares retained by individual |
Nigel Wilson | Director | 306,024 | 306,024 | 147,657 | 158,367 | 0 |
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Nigel Wilson | ||
2 | Reason for the notification | |||
a) | Position/status | Group Chief Executive Officer/Director | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 239,777 shares. 2. Sale of 239,777 shares, of which 115,693 shares sold to cover tax (no shares retained). 3. Exercise of PSP 2017 award of nil cost options over 306,024 shares. 4. Sale of 306,024 shares, of which 147,657 shares sold to cover tax and dealing costs (no shares retained). | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 239,777 | |||
2. £2.744 | 2. 239,777 | |||
3. £0.00 | 3. 306,024 | |||
4. £2.744 | 4. 306,024 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 239,777 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 239,777 | 2. £657,948.09 | ||
3. Price | 3. Volume | 3. Total | ||
3. £0.00 | 3. 306,024 | 3. £0.00 | ||
4. Price | 4. Volume | 4. Total | ||
4. £2.744 | 4. 306,024 | 4. £839,729.86 | ||
e) | Date of the transaction | 1. 16 April 2022 2. 16 April 2022 3. 14 April 2022 4. 14 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Jeff Davies | ||
2 | Reason for the notification | |||
a) | Position/status | Group Chief Financial Officer/Director | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 136,838 shares. 2. Sale of 66,025 shares to cover tax and social security. The balance of 70,813 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 136,838 | |||
2. £2.744 | 2. 66,025 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 136,838 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 66,025 | 2. £181,172.60 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Kerrigan Procter | ||
2 | Reason for the notification | |||
a) | Position/status | President of Asia-Pacific/PDMR | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 132,945 shares. 2. Sale of 64,146 shares to cover tax and social security. The balance of 68,799 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 132,945 | |||
2. £2.744 | 2. 64,146 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 132,945 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 64,146 | 2. £176,016.62 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Emma Hardaker-Jones | ||
2 | Reason for the notification | |||
a) | Position/status | Group HR Director/PDMR | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 30,733 shares. 2. Sale of 30,733 shares, of which 14,830 were sold to cover tax (no shares retained). | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 30,733 | |||
2. £2.744 | 2. 30,733 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 30,733 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 30,733 | 2. £84,331.35 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Chris Knight | ||
2 | Reason for the notification | |||
a) | Position/status | Group 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 | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 63,914 shares. 2. Sale of 30,839 shares to cover tax and social security. The balance of 33,075 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 63,914 | |||
2. £2.744 | 2. 30,839 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 63,914 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 30,839 | 2. £84,622.22 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Geoffrey Timms | ||
2 | Reason for the notification | |||
a) | Position/status | Group General Counsel and Company Secretary/PDMR | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 38,385 shares. 2. Sale of 18,521 shares to cover tax and social security. The balance of 19,864 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 38,385 | |||
2. £2.744 | 2. 18,521 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 38,385 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 18,521 | 2. £50,821.62 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Stephen Licence | ||
2 | Reason for the notification | |||
a) | Position/status | Group Chief Internal Auditor/PDMR | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 27,485 shares. 2. Sale of 13,262 shares to cover tax and social security. The balance of 14,223 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 27,485 | |||
2. £2.744 | 2. 13,262 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 27,485 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 13,262 | 2. £36,390.93 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | John Godfrey | ||
2 | Reason for the notification | |||
a) | Position/status | Corporate Affairs Director/PDMR | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 15,783 shares. 2. Sale of 7,616 shares to cover tax and social security. The balance of 8,167 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 15,783 | |||
2. £2.744 | 2. 7,616 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 15,783 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 7,616 | 2. £20,898.30 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Catherine Mason | ||
2 | Reason for the notification | |||
a) | Position/status | Chief Executive Officer, Legal & General Capital/PDMR | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 78,052 shares. 2. Sale of 37,661 shares to cover tax and social security. The balance of 40,391 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 78,052 | |||
2. £2.744 | 2. 37,661 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 78,052 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 37,661 | 2. £103,341.78 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Bernard Hickman | ||
2 | Reason for the notification | |||
a) | Position/status | Chief Executive Officer, Legal & General Retail/PDMR | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Legal & General Group Plc | ||
b) | LEI | 213800JH9QQWHLO99821 | ||
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 £0.025 each, with voting rights attached GB0005603997 | ||
b) | Nature of transaction | 1. Vesting of SBP Award over 37,753 shares. 2. Sale of 18,216 shares to cover tax and social security. The balance of 19,537 shares retained. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. £0.00 | 1. 37,753 | |||
2. £2.744 | 2. 18,216 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 37,753 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.744 | 2. 18,216 | 2. £49,984.70 | ||
e) | Date of the transaction | 16 April 2022 | ||
f) | Place of the transaction | London Stock Exchange, XLON
| ||
20 April 2022
Andrew Fairhurst
Director of Company Secretarial
Legal & General Group Plc
Tel: 020 3124 2102