TIDMDLG
RNS Number : 7338A
Direct Line Insurance Group PLC
28 March 2017
DIRECT LINE INSURANCE GROUP PLC ("DLG")
TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY ("PDMRS")
28 MARCH 2017
DLG announces the following changes in the interests of PDMRs in
DLG's ordinary shares of 10 (10) /(11) pence each ("Ordinary
Shares").
Direct Line Insurance Group plc 2012 Long-Term Incentive Plan
("LTIP")
DLG granted options to acquire Ordinary Shares under the LTIP to
the following PDMRs in respect of the financial year ending 31
December 2017. In accordance with the LTIP rules, the awards were
granted on 27 March 2017 as nil-cost options and the market price
used to calculate the number of nil cost options awarded was
336.17p per share.
PDMR Interest Number Interest
in Ordinary of nil in Ordinary
Shares cost Shares
held under options under
the LTIP over the LTIP
before Ordinary following
the transaction Shares the transaction
awarded
------------------------ ----------------- ---------- -----------------
A B A+B
------------------------ ----------------- ---------- -----------------
Paul Geddes 1,380,145 236,370 1,616,515
------------------------ ----------------- ---------- -----------------
Jonathan Greenwood 386,666 85,894 472,560
------------------------ ----------------- ---------- -----------------
Mike Holliday-Williams 684,569 160,069 844,638
------------------------ ----------------- ---------- -----------------
Simon Linares 286,352 82,325 368,677
------------------------ ----------------- ---------- -----------------
Steve Maddock 506,203 124,938 631,141
------------------------ ----------------- ---------- -----------------
John Reizenstein 1,699,187 143,054 1,842,241
------------------------ ----------------- ---------- -----------------
Humphrey Tomlinson 281,956 49,975 331,931
------------------------ ----------------- ---------- -----------------
Jose Vazquez 516,909 90,423 607,332
------------------------ ----------------- ---------- -----------------
DLG's policy is to make awards twice a year following the
announcement of DLG's full and half-year results respectively. The
awards will vest on 27 March 2020, subject to the achievement of
performance conditions attached to the awards, and remain
exercisable until 26 March 2027. Dividend Equivalent Options will
accrue up to the point of vesting, on those options that vest.
Direct Line Insurance Group plc Deferred Annual Incentive Plan
("DAIP")
DLG also granted options to acquire Ordinary Shares under the
DAIP to the following PDMRs in respect of the financial year ended
31 December 2016. In accordance with the DAIP rules, the awards
were granted on 27 March 2017 as nil-cost options and the market
price used to calculate the number of nil cost options awarded was
336.17p per share.
PDMR Interest Number Interest
in Ordinary of nil in Ordinary
Shares cost options Shares
held over Ordinary held under
under Shares DAIP following
DAIP awarded the transaction
before
the transaction
------------------------ ----------------- --------------- -----------------
A B A+B
------------------------ ----------------- --------------- -----------------
Paul Geddes 357,319 70,713 428,032
------------------------ ----------------- --------------- -----------------
Jonathan Greenwood 118,775 31,163 149,938
------------------------ ----------------- --------------- -----------------
Mike Holliday-Williams 138,825 45,819 184,644
------------------------ ----------------- --------------- -----------------
Simon Linares 63,351 31,420 94,771
------------------------ ----------------- --------------- -----------------
Steve Maddock 153,389 37,053 190,442
------------------------ ----------------- --------------- -----------------
John Reizenstein 276,684 36,683 313,367
------------------------ ----------------- --------------- -----------------
Humphrey Tomlinson 71,579 15,893 87,472
------------------------ ----------------- --------------- -----------------
Jose Vazquez 123,986 54,643 178,629
------------------------ ----------------- --------------- -----------------
The DLG Remuneration Committee makes awards under the DAIP
annually once the outcome of the Annual Incentive Plan for eligible
executives is determined. The awards will vest on 27 March 2020 and
remain exercisable until 26 March 2027. Dividend Equivalent Options
will accrue up to the point of vesting, on those options that
vest.
For further information on DLG's remuneration policy and
implementation of the policy please see our 2016 Directors'
Remuneration Report which is available at:
www.directlinegroup.com.
The following disclosures are made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------------
a) Name Paul Geddes ("PG")
Jonathan Greenwood ("JG")
Mike Holliday-Williams ("MHW")
Simon Linares ("SL")
Steven Maddock ("SM")
John Reizenstein ("JR")
Humphrey Tomlinson ("HT")
Jose Vazquez ("JV")
--- ------------------------- ------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------------
a) Position/status PG - Chief Executive Officer
/ PDMR
JG - Managing Director, Commercial
/ PDMR
MHW - Managing Director, Personal
Lines / PDMR
SL - Human Resources Director
/ PDMR
SM - Chief Operating Officer
/ PDMR
JR - Chief Financial Officer
/ PDMR
HT - General Counsel / PDMR
JV - Chief Risk Officer /
PDMR
--- ------------------------- ------------------------------------
b) Initial notification Initial Notification
/Amendment
--- ------------------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------
a) Name Direct Line Insurance Group
plc
--- ------------------------- ------------------------------------
b) LEI 213800FF2R23ALJQOP04
--- ------------------------- ------------------------------------
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 Ordinary shares of 10 (10)
the financial /(11) pence ("Shares")
instrument, type
of instrument
Identification GB00BY9D0Y18
code
--- ------------------------- ------------------------------------
b) Nature of the Award of nil cost options
transaction under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan (the "LTIP")
--- ------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- --------------
GBP3.3617 PG - 236,370
---------- --------------
JG - 85,894
---------- --------------
MHW - 160,069
--------------
SL - 82,325
--------------
SM - 124,938
--------------
JR - 143,054
--------------
HT - 49,975
--------------
JV - 90,423
---------- --------------
--- ------------------------- ------------------------------------
d) Aggregated information
- Aggregated volume
N/A Single transactions for
each PDMR
- Price
--- ------------------------- ------------------------------------
e) Date of the transaction 27 March 2017
--- ------------------------- ------------------------------------
f) Place of the transaction The London Stock Exchange
(XLON)
--- ------------------------- ------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------------
a) Name Paul Geddes ("PG")
Jonathan Greenwood ("JG")
Mike Holliday-Williams ("MHW")
Simon Linares ("SL")
Steven Maddock ("SM")
John Reizenstein ("JR")
Humphrey Tomlinson ("HT")
Jose Vazquez ("JV")
--- ------------------------- ------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------------
a) Position/status PG - Chief Executive Officer
/ PDMR
JG - Managing Director, Commercial
/ PDMR
MHW - Managing Director, Personal
Lines / PDMR
SL - Human Resources Director
/ PDMR
SM - Chief Operating Officer
/ PDMR
JR - Chief Financial Officer
/ PDMR
HT - General Counsel / PDMR
JV - Chief Risk Officer /
PDMR
--- ------------------------- ------------------------------------
b) Initial notification Initial Notification
/Amendment
--- ------------------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------
a) Name Direct Line Insurance Group
plc
--- ------------------------- ------------------------------------
b) LEI 213800FF2R23ALJQOP04
--- ------------------------- ------------------------------------
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 Ordinary shares of 10 (10)
the financial /(11) pence ("Shares")
instrument, type
of instrument
GB00BY9D0Y18
Identification
code
--- ------------------------- ------------------------------------
b) Nature of the Award of nil cost options
transaction under the Direct Line Insurance
Group plc Deferred Annual
Incentive Plan (the "DAIP")
--- ------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- -------------
PG - 70,713
---------- -------------
JG - 31,163
-------------
MHW - 45,819
-------------
SL - 31,420
-------------
SM - 37,053
-------------
JR - 36,683
-------------
HT - 15,893
-------------
GBP3.3617 JV - 54,643
---------- -------------
--- ------------------------- ------------------------------------
d) Aggregated information
- Aggregated volume
N/A Single transaction for
each PDMR
- Price
--- ------------------------- ------------------------------------
e) Date of the transaction 27 March 2017
--- ------------------------- ------------------------------------
f) Place of the transaction The London Stock Exchange
(XLON)
--- ------------------------- ------------------------------------
For any enquiries relating to this announcement, please
contact:
Simon Watson
Deputy Company Secretary
Telephone: 01651 831911
This information is provided by RNS
The company news service from the London Stock Exchange
END
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