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6 Dec 2024 18:00
Legal & General Group Plc
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
As part of the remuneration terms relating to the appointment of Eric Adler as CEO, Asset Management, Legal & General Group plc ("the Company") agreed to compensate him for incentive awards forfeited by him on leaving his former employer.
On 5 December 2024, the Company granted Eric Adler the following conditional awards of a total of 3,568,462 ordinary shares of 2.5p each (the "Shares") in the Company under the Share Bonus Plan (the "Plan"), which will normally vest (subject to those terms) as set out below:
a. a conditional award of 1,159,707 Shares with a vesting date of 6 April 2025;
b. a conditional award of 1,227,772 Shares with a vesting date of 6 April 2026; and
c. a conditional award of 1,180,983 Shares with a vesting date of 6 April 2027.
The awards will vest subject to continued employment with the Company.
The awards were granted on the basis of an average closing share price on the London Stock Exchange between 5th and 9th September 2024 of £2.259. No consideration was paid for the grant of the awards. No price is payable on the vesting of the awards.
SBP Awards (Conditional)
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Eric Adler | |
2 | Reason for the notification | ||
a) | Position/status | CEO, Asset Management/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 | SBP conditional shares award for the PDMR listed in 1a above
| |
c)
| Price(s) and volume(s)
| Price(s) | Volume |
1. £2.2590 2. £2.2590 3. £2.2590 | 1. 1,159,707 2. 1,227,772 3. 1,180,983 | ||
d) | Aggregated information - Aggregated volume - Price | N/A (Single Transaction) | |
e) | Date of the transaction | 05 December 2024 | |
f) | Place of the transaction | London Stock Exchange, XLON | |
06 December 2024
Leanne Cornish
Head of Group Secretariat
Legal & General Group Plc
Tel: 020 3124 4111
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