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10 Mar 2020 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 articles 19.1 and 19.3 of the Market Abuse Regulation ("MAR") relates to the exercise of an award granted on 18 April 2017 under the terms of the Legal & General Group Performance Share Plan 2014 (PSP 2014);
The performance conditions attached to the PSP 2014 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the 2019 results. One third of the vested options will be exercisable immediately with the second third becoming available after the announcement of the 2020 results and the remaining third after the announcement of the 2021 results. Options must be exercised by the seventh anniversary of the date of grant.
Name | Director/ PDMR | Number of PSP shares granted on 18 April 2017 | Number of PSP shares vested on 6 March 2020 | Number of PSP shares exercised on 9 March 2020 | Total shares sold to cover tax/NI | Shares released to Corporate Sponsored Nominee |
Jeff Davies | Director | 503,544 | 437,579 | 145,859 | 68,554 | 77,305 |
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. Exercise of PSP 2014 award of nil cost options over 145,859 shares. 2. Sale of shares to cover tax/NI. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume | |
1. Nil cost | 1. 145,859 | |||
2. £2.180 | 2. 68,554 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 145,859 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.180 | 2. 68,554 | 2. £149,447.72 | ||
e) | Date of the transaction | 9 March 2020 | ||
f) | Place of the transaction | London Stock Exchange, XLON | ||
10 March 2020
Daniella Newson
Assistant Company Secretary
Legal & General Group Plc
Tel: 0203 124 2107
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