Report of Foreign Issuer (6-k)
10 March 2018 - 3:18AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
(09
March 2018)
LLOYDS BANKING GROUP
plc
(Translation of registrant's name into
English)
5th Floor
25 Gresham Street
London
EC2V 7HN
United Kingdom
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F..X.. Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No ..X..
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule
12g3-2(b):
82- ________
Index
to Exhibits
Item
No.
1 Regulatory News Service Announcement, dated 09 March
2018
re:
Director/PDMR Shareholding
9 March
2018
LLOYDS BANKING GROUP PLC ('GROUP') - NOTIFICATION OF TRANSACTIONS
BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN
ORDINARY SHARES OF THE GROUP OF 10 PENCE EACH
('SHARES')
On 21
February 2018, the Group published details of upcoming remuneration
disclosures for the Group, including salary, Long-Term Incentive
Plan (LTIP) vesting, Group Performance Share (bonus), Group
Ownership Share (LTIP) awards and Fixed Share Awards for PDMRs
('Summary Remuneration Announcement'). Where awards had not
yet been made, estimates were provided. The Group announces that
the following awards were made on 6 March 2018.
This
announcement should be read in conjunction with the Summary
Remuneration Announcement and disclosures in the 2017 Annual Report
and Accounts published on 21 February 2018. The 2017 Annual Report
and Accounts is available on the 'Annual Reports' page in the
'Investors & Performance' section of the Group's website
www.lloydsbankinggroup.com.
2017 Group Performance Share Awards
In line
with requirements of the PRA Rulebook and FCA Remuneration Code
(SYSC 19D), a maximum of 40 per cent of any variable
remuneration awarded to Executive Directors and other members of
the Group Executive Committee will be paid in 2018 (subject to
applicable holding requirements). The remaining 60 per cent must be
deferred.
For the
2017 Group Performance Share awards, £2,000 is paid in cash in
March 2018 with the balance of the upfront 40 per cent delivered in
Shares. 50 per cent of the upfront Shares will be delivered
immediately and will be subject to a holding period ending in March
2019. The remaining 50 per cent will be delivered in June 2018 at
the prevailing share price with the number of shares notified to
the market at that time. The remaining 60 per cent of the
2017 Group Performance Share Award is deferred into Shares with 40
per cent vesting in 2019 and 20 per cent in 2020.
|
Name
|
Number of Shares
Awarded in March 2018
(1)
|
|
|
António
Horta-Osório
|
1,555,288
|
|
|
George
Culmer
|
704,426
|
|
|
Juan
Colombás
|
704,426
|
|
|
Karin
Cook
|
382,234
|
|
|
Antonio
Lorenzo
|
598,468
|
|
|
Vim
Maru
|
593,881
|
|
|
Zak
Mian
|
752,996
|
|
|
David
Oldfield
|
656,320
|
|
|
Janet
Pope
|
317,406
|
|
|
Stephen
Shelley
|
604,673
|
|
|
|
|
1
|
Based
on a Share price of 68.027 pence being the average of the closing
Share price of the five trading days prior to the date of award.
This is the maximum number of Shares under award which will be
subject to income tax and national insurance contributions on
vesting.
|
|
|
|
|
|
|
Group Ownership Share Plan - 2018 awards
Awards
for the 2017 performance period were made on 6 March under the
rules of the 2016 Long-Term Incentive Plan. The 2018 awards are
subject to a three-year performance period with vesting between the
third and seventh anniversary of award, on a pro-rata
basis.
Name
|
Maximum number of Shares awarded
(1)(2)
|
Expected
value
(3)
|
António
Horta-Osório
|
6,725,221
|
£2,287,483
|
George
Culmer
|
3,860,925
|
£1,317,927
|
Juan
Colombás
|
3,807,302
|
£1,294,997
|
Karin
Cook
|
2,772,003
|
£942,855
|
Antonio
Lorenzo
|
3,753,678
|
£1,276,757
|
Vim
Maru
|
3,587,703
|
£1,220,303
|
Zak
Mian
|
3,224,453
|
£1,096,749
|
David
Oldfield
|
3,753,678
|
£1,276,760
|
Janet
Pope
|
1,708,180
|
£581,012
|
Stephen
Shelley
|
2,308,867
|
£785,327
|
1
|
Based
on a Share price of 68.027 pence being the average of the closing
Share price of the five trading days prior to the date of award. As
regulations prohibit the payment of dividend equivalents on awards
in 2018 and subsequent years, the number of Shares subject to award
has been determined by applying a discount factor to the Share
price on award, as previously disclosed. The Remuneration
Committee has approved an adjustment of 25 per cent for colleagues
who are senior managers, including the Executive
Directors.
|
2
|
Vesting
determined in 2021 subject to the satisfaction of stretching
performance targets over the performance period ending 31 December
2020.
|
3
|
The
values for the Group Ownership Shares awards are shown at an
expected value of 50 per cent of maximum value and before
deduction of income tax and NIC. The actual vesting value will
depend on the achievement of performance conditions and the Share
price at the date of vesting. These awards are subject to clawback
for at least seven years from the date of award.
|
ENQUIRIES:
Investor Relations
Douglas Radcliffe
Group Investor Relations Director
Email: douglas.radcliffe@
finance.lloydsbanking.com
Group Corporate Affairs
Fiona Laffan
Director of Corporate Communications
Email: fiona.laffan@lloydsbanking.com
|
+44 (0) 20
7356
1571
+44 (0) 20 7356 2081
|
9 March
2018
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
António
Horta-Osório
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Group
Chief Executive
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
1,555,288
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
6,725,221
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
8,280,509
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
George
Culmer
|
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
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
704,426
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
3,860,925
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
4,565,351
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
Juan
Colombás
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Chief
Operating Officer
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
704,426
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
3,807,302
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
4,511,728
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
Karin
Cook
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Group Services Director
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
382,234
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
2,772,003
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
3,154,237
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
Antonio
Lorenzo
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Chief Executive, Scottish Widows and Group Director, Insurance and
Wealth
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
598,468
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
3,753,678
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
4,352,146
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
Vim
Maru
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Group Director, Retail
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
593,881
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
3,587,703
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
4,181,584
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
Zak
Mian
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Group Director, Transformation
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
752,996
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
3,224,453
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
3,977,449
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
David
Oldfield
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Group Director, Commercial Banking
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
656,320
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
3,753,678
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
4,409,998
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
Janet
Pope
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Chief of Staff and Group Director, Corporate Affairs and
Responsible Business & Inclusion
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
317,406
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
1,708,180
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
2,025,586
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
a)
|
Name
|
Stephen
Shelley
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Chief Risk Officer
|
b)
|
Initial notification / Amendment
|
Initial
Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Lloyds
Banking Group plc
|
b)
|
LEI
|
549300PPXHEU2JF0AM85
|
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 10p each
GB0008706128
|
b)
|
Nature of the transaction
|
Award of Shares under the
Group
Performance Share Plan for 2017 and the Group Ownership Share
Plan
- 2018 awards
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
Award
of Shares - 2017 Group Performance Share Award
|
|
GBP00.68027
|
604,673
|
|
Award of Shares -
Group
Ownership Share Plan
- 2018 awards
|
|
GBP00.
68027
|
2,308,867
|
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
2,913,540
GBP00.68027
|
e)
|
Date of the transaction
|
6 March
2018
|
f)
|
Place of the transaction
|
Outside
a trading venue
|
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
LLOYDS
BANKING GROUP plc
(Registrant)
By: Douglas
Radcliffe
Name: Douglas
Radcliffe
Title: Group
Investor Relations Director
Date:
09 March 2018
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