Last checked at 18 Apr 2016 14:05
18 April 2016
LLOYDS BANKING GROUP PLC ("GROUP") - NOTIFICATION OF TRANSACTION BY PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMR") IN ORDINARY SHARES OF THE GROUP OF 10 PENCE EACH ("SHARES")
Group Chief Executive Acquisition of Shares
As described in the Summary Remuneration Announcement published on 25 February 2016 and disclosures in the 2015 Annual Report and Accounts published on 8 March 2016, for the first time since 2011 a base salary increase was proposed for the Group Chief Executive, António Horta-Osório.
For 2016 this will consist of an increase in base salary of 2 per cent, in line with the other Executive Directors, and an additional increase of 4 per cent. The Group Chief Executive suggested, and the Board approved, that for 2016 the 4 per cent increase be delivered monthly in Shares and held until the Government has sold its shareholding in the Group.
In this respect, the Group was notified on 18 April 2016 that, after the settlement of income tax liabilities and national insurance contributions, 2,803 Shares were acquired today on behalf of Mr Horta-Osório in respect of April 2016. The acquisition price was 67.4 pence per Share.
Following this transaction the Group Chief Executive continues to comply with the Group's shareholding policy requirements.
This disclosure is made pursuant to the Financial Conduct Authority's Disclosure and Transparency Rule 3.1.4. The transaction took place in the UK and the Shares are listed on the London Stock Exchange.
ENQUIRIES:
Investor Relations
Douglas Radcliffe +44 (0) 20 7356 1571
Group Investor Relations Director
Email: douglas.radcliffe@finance.lloydsbanking.com
Group Corporate Affairs
Matt Smith +44 (0) 20 7356 3522
Head of Corporate Media
Email: matt.smith@lloydsbanking.com