Last checked at 1 Apr 2022 15:30
M&G plc NEWS RELEASE01 April 2022
M&G plc
Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMRs')
Awards under the M&G Deferred Incentive Plan 2019 (the 'Deferred Incentive Plan')
On 1 April 2022, the Company made deferred bonus short-term incentives ('STIs') to PDMRs under the Deferred Incentive Plan. Awards representing a proportion of the PDMRs' annual STIs have been deferred into conditional awards over shares which are due to vest in April 2025. The awards have been made using the average market share price for the three days preceding the award date, of £2.231.
Awards under the M&G Performance Share Plan 2019 (the 'Performance Share Plan')
On 1 April 2022, the Company granted nil-cost options to the PDMRs set out below, under the Performance Share Plan. The options granted in 2022 are subject to the achievement of performance conditions over a three-year period (with the exception of Mr Grewal, for whom performance conditions do not apply), plus a subsequent holding period of two years, and have been made using the average market share price for the three days preceding the award date, of £2.231.
Release of shares under the Performance Share Plan for Peter Grewal
M&G plc (the 'Company') announces that on 31 March 2022, shares were released to Peter Grewal under the Performance Share Plan granted on 1 April 2021. Having already met the shareholding guidelines prescribed by the Company, Mr Grewal elected to sell all the shares released to him.
Summary table
The below table summarises the above transactions for each PDMR:
Name | Number of shares released and sold under the Performance Share Plan | Number of shares awarded under the Deferred Incentive Plan | Number of nil-cost options granted under the Performance Share Plan |
Clare Bousfield | N/A | 185,316 | 605,109 |
Jonathan Daniels | N/A | 201,523 | 403,406 |
John Foley | N/A | 385,186 | 1,131,107 |
Peter Grewal | 82,468 | 69,332 | 218,142 |
Matt Howells | N/A | 60,026 | 277,005 |
David Macmillan | N/A | 85,719 | 333,845 |
Alan Porter | N/A | 94,755 | 368,987 |
Catherine Ross | N/A | 32,496 | N/A |
The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
Contact
Alan Porter, General Counsel and Company Secretary - 020 8162 4064
Penny Woodcock, Deputy Company Secretary - PLC & Governance - 020 8162 3112
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Clare Bousfield | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Managing Director, Retail & Savings | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | M&G plc | |||||||||
b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | a. Award granted under the Deferred Incentive Plan to be released in April 2025 b. Award granted under the Performance Share Plan due to vest in April 2025 subject to the achievement of performance conditions
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
790,425
£2.231 | ||||||||||
Date of the transaction | 2022-04-01 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Jonathan Daniels | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Chief Investment Officer | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | M&G plc | |||||||||
b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | a. Award granted under the Deferred Incentive Plan to be released in April 2025 b. Award granted under the Performance Share Plan due to vest in April 2025 subject to the achievement of performance conditions
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
604,929
£2.231 | ||||||||||
Date of the transaction | 2022-04-01 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | John Foley | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Chief Executive Officer | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | M&G plc | |||||||||
b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | a. Award granted under the Deferred Incentive Plan to be released in April 2025 b. Award granted under the Performance Share Plan due to vest in April 2025 subject to the achievement of performance conditions
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
1,516,293
£2.231 | ||||||||||
Date of the transaction | 2022-04-01 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Peter Grewal | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Group Chief Risk & Compliance Officer | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | M&G plc | |||||||||
b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | a. Award granted under the Deferred Incentive Plan to be released in April 2025 b. Award granted under the Performance Share Plan due to vest in April 2025
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
287,474
£2.231 | ||||||||||
Date of the transaction | 2022-04-01 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | a. Release and sale of nil-cost conditional awards under the Performance Share Plan b. Release and sale of nil-cost conditional awards under the Performance Share Plan
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
82,468
£2.24 | ||||||||||
Date of the transaction | 2022-03-31 | ||||||||||
Place of the transaction | XLON | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Matt Howells | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Chief People & Corporate Affairs Officer | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | M&G plc | |||||||||
b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | a. Award granted under the Deferred Incentive Plan to be released in April 2025 b. Award granted under the Performance Share Plan due to vest in April 2025 subject to the achievement of performance conditions
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
337,031
£2.231 | ||||||||||
Date of the transaction | 2022-04-01 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | David Macmillan | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Chief Customer & Innovation Officer | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | M&G plc | |||||||||
b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | c. Award granted under the Deferred Incentive Plan to be released in April 2025 d. Award granted under the Performance Share Plan due to vest in April 2025 subject to the achievement of performance conditions
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
419,564
£2.231 | ||||||||||
Date of the transaction | 2022-04-01 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Alan Porter | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | General Counsel & Company Secretary | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | M&G plc | |||||||||
b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
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 5 pence each
GB00BKFB1C65 | |||||||||
b) | Nature of the transaction | a. Award granted under the Deferred Incentive Plan to be released in April 2025 b. Award granted under the Performance Share Plan due to vest in April 2025 subject to the achievement of performance conditions
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
463,742
£2.231 | ||||||||||
Date of the transaction | 2022-04-01 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Catherine Ross | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Head Private Credit | ||||||
b) | Initial notification/Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | M&G plc | ||||||
b) | LEI | 254900TWUJUQ44TQJY84 | ||||||
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 5 pence each
GB00BKFB1C65 | ||||||
b) | Nature of the transaction | a. Award granted under the Deferred Incentive Plan to be released in April 2025
| ||||||
c) | Price(s) and volume(s) |
| ||||||
Aggregated information
-Aggregated volume
-Price |
32,496
£2.231 | |||||||
Date of the transaction | 2022-04-01 | |||||||
Place of the transaction | Outside a trading venue | |||||||
LEI: 254900TWUJUQ44TQJY84
Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.