Last checked at 18 Apr 2024 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 of the UK Market Abuse Regulation ("UK MAR") relates to the exercise of awards granted on 16 April 2019 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 2019 provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the results for 2021. The number of options that vested were then subject to a two year holding period that ended on 16 April 2024 when the options became exercisable. The options must be exercised by the seventh anniversary of the date of the grant.
Name | Director/ PDMR | Number of shares awarded on 16 April 2019 | Number of shares exercised on 16 April 2024 | Shares sold to cover tax at a price of £2.433 | Remaining shares sold at a price of £2.433 | Shares retained by individual |
Geoffrey Timms | PDMR | 178,857 | 178,857 | 84,063 | 94,794 | 0 |
Jeff Davies | Director | 470,011 | 470,011 | 220,906 | 0 | 249,105 |
Emma Hardaker-Jones | PDMR | 150,944 | 150,944 | 70,944 | 80,000 | 0 |
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. Exercise of PSP 2019 award of nil cost options over 178,857 shares. 2. Sale of 178,857 shares, of which 84,063 shares sold to cover tax and dealing costs (nil shares retained). | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume | |
1. £0.00 | 1. 178,857 | |||
2. £2.433 | 2. 178,857 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 178,857 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.433 | 2. 178,857 | 2. £435,159.08 | ||
e) | Date of the transaction | 16 April 2024 | ||
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. Exercise of PSP 2019 award of nil cost options over 470,011 shares. 2. Sale of 220,906 shares to cover tax and dealing costs (249,105 shares retained). | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume | |
1. £0.00 | 1. 470,011 | |||
2. £2.433 | 2. 220,906 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 470,011 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.433 | 2. 220,906 | 2. £537,464.30 | ||
e) | Date of the transaction | 16 April 2024 | ||
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 | Chief Transformation & People 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. Exercise of PSP 2019 award of nil cost options over 150,944 shares. 2. Sale of 150,944 shares, of which 70,944 shares sold to cover tax and dealing costs (nil shares retained). | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume | |
1. £0.00 | 1. 150,944 | |||
2. £2.433 | 2. 150,944 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 150,944 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.433 | 2. 150,944 | 2. £367,246.75 | ||
e) | Date of the transaction | 16 April 2024 | ||
f) | Place of the transaction | London Stock Exchange, XLON | ||
18 April 2024
Leanne Cornish
Head of Group Secretariat
Legal & General Group Plc
Tel: 020 3124 4111