Last checked at 31 Mar 2023 16:15
M&G plc NEWS RELEASE31 March 2023
M&G plc
Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMRs')
Awards under the M&G Deferred Incentive Plan 2019 ('DIP')
On 31 March 2023, the Company granted deferred bonus short-term incentive ('STI') awards to the PDMRs set out below, under the DIP. The DIP awards granted represent a deferred proportion of the PDMRs' annual STI, granted as conditional awards over shares which are due to vest in April 2026. The DIP awards have been made using the average market share price for the three days preceding the award date, of £1.853.
In addition, certain conditional awards have been granted under the DIP to Ms. Shield in respect to awards forfeited from her previous employer. Specific vesting and holding periods apply in order to align to the terms of the awards forfeited. These DIP awards have been made using the average market share price for the three days preceding Ms. Shield's hire date of £1.986.
Awards under the M&G Performance Share Plan 2019 (the 'PSP')
On 31 March 2023, the Company granted nil-cost option PSP awards to the PDMRs set out below, under the PSP.
The PSP awards granted are subject to the achievement of performance conditions over a three-year period (with the exception of awards made to Mr. Grewal and Ms. Shield to which performance conditions do not apply). A subsequent two year holding period applies to the PSP awards with the exception of the award made to Ms. Shield. These PSP awards have been made using the average market share price for the three days preceding the award date, of £1.853.
In addition, certain nil-cost option awards have been granted to Ms. Shield in respect to awards forfeited from her previous employer. Specific vesting and holding periods, and where applicable performance conditions, apply in order to align to the terms of the awards forfeited. These PSP awards have been made using the average market share price for the three days preceding Ms. Shield's hire date, of £1.986.
Summary table
The below table summarises the above transactions for each PDMR:
Name | Number of shares awarded as conditional awards under the DIP | Number of shares awarded as nil-cost options under the PSP |
Clare Bousfield | 301,027 | 789,260 |
Jonathan Daniels | 196,144 | n/a |
Peter Grewal | 105,757 | 262,641 |
Matt Howells | 70,011 | 384,511 |
Benoît Macé | 21,137 | 323,799 |
Kathryn McLeland | 118,111 | 704,263 |
Alan Porter | 89,704 | n/a |
Andrea Rossi | 68,742 | 1,180,518 |
Louise Shield | 168,356 | 274,847 |
The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
Contact
Alan Porter, Group General Counsel and Company Secretary - 020 8162 4064
George Bayer, Deputy Company Secretary - PLC & Governance - 020 8162 2655
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Clare Bousfield | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Chief Executive Officer, 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 DIP to vest and be released in March 2026 b. Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028
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c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
1,090,287
£1.853 | ||||||||||
Date of the transaction | 2023-03-31 | ||||||||||
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, M&G plc & Managing Director, M&G Asset Management | ||||||
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 DIP to vest and be released in March 2026
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c) | Price(s) and volume(s) |
| ||||||
Aggregated information
-Aggregated volume
-Price |
196,144
£1.853 | |||||||
Date of the transaction | 2023-03-31 | |||||||
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 and 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 DIP to vest and be released in March 2026 b. Award granted under the PSP due to vest in March 2026, and be exercisable from March 2028
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
368,398
£1.853 | ||||||||||
Date of the transaction | 2023-03-31 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
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 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 DIP to vest and be released in March 2026 b. Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
454,522
£1.853 | ||||||||||
Date of the transaction | 2023-03-31 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Benoît Macé | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Chief Strategy and Transformation 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 DIP to vest and be released in March 2026 b. Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
344,936
£1.853 | ||||||||||
Date of the transaction | 2023-03-31 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Kathryn McLeland | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Chief Financial 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 DIP to vest and be released in March 2026 b. Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
822,374
£1.853 | ||||||||||
Date of the transaction | 2023-03-31 | ||||||||||
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 | Group 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 DIP to vest and be released in March 2026
| ||||||
c) | Price(s) and volume(s) |
| ||||||
Aggregated information
-Aggregated volume
-Price |
89,704
£1.853 | |||||||
Date of the transaction | 2023-03-31 | |||||||
Place of the transaction | Outside a trading venue | |||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
a) | Name | Andrea Rossi | |||||||||
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 DIP to vest and be released in March 2026 b. Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028
| |||||||||
c) | Price(s) and volume(s) |
| |||||||||
Aggregated information
-Aggregated volume
-Price |
1,249,260
£1.853 | ||||||||||
Date of the transaction | 2023-03-31 | ||||||||||
Place of the transaction | Outside a trading venue | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||||||||||||||||||||||||||||||||||||||
a) | Name | Louise Shield | ||||||||||||||||||||||||||||||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||||||||||||||||||||||||||||||
a) | Position/status | Corporate Affairs Director | ||||||||||||||||||||||||||||||||||||||||||||||||
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 DIP to vest in March 2023 and be released in April 2024 b. Award granted under the DIP to vest in March 2024 and be released in March 2025 c. Award granted under the DIP to vest and be released in April 2024 d. Award granted under the DIP to vest and be released in March 2025 e. Award granted under the DIP to vest in March 2025 and be released in March 2026 f. Awards granted under the DIP to vest and be released in March 2026 g. Awards granted under the DIP to vest and be released in March 2026 h. Award granted under the DIP to vest in March 2026 and be released in March 2027 i. Awards granted under the DIP to vest and be released in March 2027 j. Award granted under the DIP to vest in March 2027 and be released in March 2028 k. Award granted under the PSP due to vest in, and be exercisable from, April 2024, subject to the achievement of performance conditions l. Award granted under the PSP to vest in March 2024, subject to the achievement of performance conditions, and be exercisable from March 2025 m. Award granted under the PSP to vest in March 2024, subject to the achievement of performance conditions, and be exercisable from March 2026 n. Award granted under the PSP due to vest in, and be exercisable from, March 2026, subject to the achievement of performance conditions o. Award granted under the PSP to vest in March 2024, subject to the achievement of performance conditions, and be exercisable from March 2027
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c) | Price(s) and volume(s) |
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Aggregated information
-Aggregated volume
-Price |
443,202
£1.9356 | |||||||||||||||||||||||||||||||||||||||||||||||||
Date of the transaction | 2023-03-31 | |||||||||||||||||||||||||||||||||||||||||||||||||
Place of the transaction | Outside a trading venue | |||||||||||||||||||||||||||||||||||||||||||||||||
LEI: 254900TWUJUQ44TQJY84
Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.