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12 Aug 2020 17:00
Legal & general group plc
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
On 12 August 2020 Legal & General Group Plc (the "Company") received notification that on that day the Directors and PDMRs named below had been awarded nil cost options over ordinary shares of 2.5p under the terms of the Performance Share Plan ("PSP") at an award price of £2.2926. All PSP awards will vest, subject to satisfaction of the performance conditions, after three years but the participants will not be able to exercise the options before 12 August 2025.
The performance period in respect of the PSP award will end on 31 December 2022. The performance conditions attached to the PSP award will then be tested and the vesting percentage confirmed after the announcement of the Legal & General's 2022 annual results. Options must be exercised by the seventh anniversary of the date of grant.
On 12 August 2020 the Company also received notification that on that day the Directors and PDMRs named below were awarded either conditional shares or restricted shares at a price of £2.3287 per ordinary share under the terms of the Share Bonus Plan ("SBP"). All SBP awards vest on 14 April 2023.
Name | Director/ PDMR | Number of PSP options awarded on 12 August 2020 at a price of £2.2926 | Number of SBP Conditional Shares awarded on 12 August 2020 at a price of £2.3287 | Number of SBP Restricted Shares awarded on 12 August 2020 at a price of £2.3287 |
Nigel Wilson | Director | 1,068,110 | 277,497 | - |
Jeff Davies | Director | 643,374 | 163,720 | - |
Kerrigan Procter | Director | 594,303 | 151,717 | - |
Michelle Scrimgeour | Director | 648,826 | 79,831 | - |
Simon Gadd | PDMR | 266,945 | - | 55,825 |
John Godfrey | PDMR | 133,429 | - | 32,099 |
Emma Hardaker-Jones | PDMR | 209,369 | - | 40,398 |
Bernard Hickman | PDMR | 243,391 | - | 64,242 |
Chris Knight | PDMR | 195,411 | - | 73,754 |
Stephen Licence | PDMR | 97,705 | - | 37,274 |
Laura Mason | PDMR | 333,682 | - | 115,667 |
Geoffrey Timms | PDMR | 237,285 | - | 66,293 |
PSP Awards
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | 1. Nigel Wilson 2. Jeff Davies 3. Kerrigan Procter 4. Michelle Scrimgeour 5. Simon Gadd 6. John Godfrey 7. Emma Hardaker-Jones 8. Bernard Hickman 9. Chris Knight 10. Stephen Licence 11. Laura Mason 12. Geoffrey Timms
| |
2 | Reason for the notification | ||
a) | Position/status | 1. Group Chief Executive Officer/ Director 2. Group Chief Financial Officer/Director 3. Chief Executive Officer, Legal & General Capital/Director 4. Chief Executive Officer, Legal & General Investment Management/PDMR 5. Group Chief Risk Officer/PDMR 6. Corporate Affairs Director/PDMR 7. Group HR Director/PDMR 8. Chief Executive Officer, Legal & General Insurance/PDMR 9. Chief Executive Officer, Legal & General Retirement, Retail/PDMR 10. Group Chief Internal Auditor/PDMR 11. Chief Executive Officer, Legal & General Retirement, Institutional/PDMR 12. 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 | PSP options award for the directors/PDMRs listed in 1a above
| |
c)
| Price(s) and volume(s)
| Price(s) | Volume |
1. £2.2926 | 1. 1,068,110 | ||
2. £2.2926 | 2. 643,374 | ||
3. £2.2926 | 3. 594,303 | ||
4. £2.2926 | 4. 648,826 | ||
5. £2.2926 | 5. 266,945 | ||
6. £2.2926 | 6. 133,429 | ||
7. £2.2926 | 7. 209,369 | ||
8. £2.2926 | 8. 243,391 | ||
9. £2.2926 | 9. 195,411 | ||
10. £2.2926 | 10. 97,705 | ||
11. £2.2926 | 11. 333,682 | ||
12. £2.2926 | 12. 237,285 | ||
d) | Aggregated information - Aggregated volume - Price | N/A (Single Transaction) | |
e) | Date of the transaction | 12 August 2020 | |
f) | Place of the transaction | London Stock Exchange, XLON | |
SBP Awards (Restricted and Conditional)
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | 1. Nigel Wilson 2. Jeff Davies 3. Kerrigan Procter 4. Michelle Scrimgeour 5. Simon Gadd 6. John Godfrey 7. Emma Hardaker-Jones 8. Bernard Hickman 9. Chris Knight 10. Stephen Licence 11. Laura Mason 12. Geoffrey Timms
| |
2 | Reason for the notification | ||
a) | Position/status | 1. Group Chief Executive Officer/ Director 2. Group Chief Financial Officer/Director 3. Chief Executive Officer, Legal & General Capital/Director 4. Chief Executive Officer, Legal & General Investment Management/PDMR 5. Group Chief Risk Officer/PDMR 6. Corporate Affairs Director/PDMR 7. Group HR Director/PDMR 8. Chief Executive Officer, Legal & General Insurance/PDMR 9. Chief Executive Officer, Legal & General Retirement, Retail/PDMR 10. Group Chief Internal Auditor/PDMR 11. Chief Executive Officer, Legal & General Retirement, Institutional/PDMR 12. 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. SBP conditional shares award for the directors (1 to 4) listed in 1a above 2. SBP restricted shares award for the PDMRs (5 to 12) listed in 1a above | |
c)
| Price(s) and volume(s)
| Price(s) | Volume |
1. £2.3287 | 1. 277,497 | ||
2. £2.3287 | 2. 163,720 | ||
3. £2.3287 | 3. 151,717 | ||
4. £2.3287 | 4. 79,831 | ||
5. £2.3287 | 5. 55,825 | ||
6. £2.3287 | 6. 32,099 | ||
7. £2.3287 | 7. 40,398 | ||
8. £2.3287 | 8. 64,242 | ||
9. £2.3287 | 9. 73,754 | ||
10. £2.3287 | 10. 37,274 | ||
11. £2.3287 | 11. 115,667 | ||
12. £2.3287 | 12. 66,293 | ||
d) | Aggregated information - Aggregated volume - Price | N/A (Single Transaction) | |
e) | Date of the transaction | 12 August 2020 | |
f) | Place of the transaction | London Stock Exchange, XLON | |
12 August 2020
Daniella Newson
Assistant Company Secretary
Legal & General Group Plc
Tel: 0203 124 2107
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