Last checked at 12 Mar 2019 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 11 June 2014 under the terms of the Legal & General Group Performance Share Plan 2014 (PSP 2014);
· the exercise of an award granted on 14 April 2015 under the terms of the Legal & General Group Performance Share Plan 2015 (PSP 2015); and
· the exercise of an award granted on 21 April 2016 under the terms of the Legal & General Group Performance Share Plan 2016 (PSP 2016).
The performance conditions attached to the PSP 2014 award provide that one third of the vested options become exercisable subject to the 2016 results with the second third becoming exercisable after the announcement of the 2017 results and the remaining third after the announcement of the 2018 results. PSP 2014 awards must be exercised by the seventh anniversary of the date of grant.
The performance conditions attached to the PSP 2015 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the results for 2017 with one third of vested options becoming exercisable immediately, the second third becoming exercisable after the announcement of the 2018 results and the remaining third after the announcement of the 2019 results. PSP 2015 awards must be exercised by the seventh anniversary of the date of grant.
The performance conditions attached to the PSP 2016 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the 2018 results. One third of the vested options will be exercisable immediately with the second third becoming available after the announcement of the 2019 results and the remaining third after the announcement of the 2020 results. Options must be exercised by the seventh anniversary of the date of grant.
Name | Director/ PDMR | Number of shares awarded on 21 April 2016 | Number of shares exercised on 8 March 2019 | Shares sold to cover tax and social security | Total shares sold | Shares retained by individual |
Stephen Licence | PDMR | 12,585
| 12,585
| 5,915 | 12,585 | 0 |
Name | Director/ PDMR | Number of shares awarded on 11 June 2014 | Number of shares awarded on 14 April 2015 | Number of shares exercised on 8 March 2019 | Shares sold to cover tax and social security | Total shares sold | Shares retained by individual |
Simon Gadd | PDMR | 72,017 | 66,253 | 138,270 | 64,989 | 138,270 | 0 |
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. Exercise of PSP 2016 award of nil cost options over 12,585 shares. 2. Sale of 12,585 shares including sale of 5,915 shares to cover tax and dealing costs. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume | |
1. Nil cost | 1. 12,585 | |||
2. £2.683 | 2. 12,585 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 12,585 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.683 | 2. 12,585 | 2. £33,765.56 | ||
e) | Date of the transaction | 8 March 2019 | ||
f) | Place of the transaction | London Stock Exchange, XLON | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Simon Gadd | ||
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. Exercise of PSP 2014 award of nil cost options over 72,017 shares and exercise of PSP 2015 award of nil cost options over 66,253 shares. 2. Sale of 138,270 shares including sale of 64,989 shares to cover tax and dealing costs. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume | |
1. Nil cost | 1. 138,270 | |||
2. £2.683 | 2. 138,270 | |||
d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
1. £0.00 | 1. 138,270 | 1. £0.00 | ||
2. Price | 2. Volume | 2. Total | ||
2. £2.683 | 2. 138,270 | 2. £ 370,978.41 | ||
e) | Date of the transaction | 8 March 2019 | ||
f) | Place of the transaction | London Stock Exchange, XLON | ||
12 March 2019
Daniella Newson
Assistant Company Secretary
Legal & General Group Plc
Tel: 0203 124 2107