Lloyds Banking (LSE:LLOY)
Historical Stock Chart

From Apr 2019 to Apr 2024

TIDMLLOY

RNS Number : 2673R

Lloyds Banking Group PLC

25 June 2015

25 June 2015

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")

2014 Group Annual Bonus and Deferred Bonus Awards for 2012 and 2013 performance

The first tranche of bonus awards in respect of 2014 performance for members of the Group Executive Committee other than the Group Chief Executive and Executive Directors vests in June 2015. As already described in the Summary Remuneration announcement on 27 February 2015, these awards are released in Shares based on the prevailing share price.

The release today of tranches of the 2012 and 2013 Deferred Bonus Awards incorporates performance adjustments following the Group's settlement as announced on 5 June 2015.

In this respect, the Group announces that on 25 June 2015, after the settlement of income tax and national insurance contributions, the PDMRs listed in the table below received the number of Shares as set out by their name. The Shares were acquired for nil consideration.

 
 Name                                      Shares 
---------------------------------------  -------- 
 Juan Colombás(1)                     44,355 
---------------------------------------  -------- 
 George Culmer(1)                         357,526 
---------------------------------------  -------- 
 Andrew Bester                            180,286 
---------------------------------------  -------- 
 Karin Cook(2)                             78,886 
---------------------------------------  -------- 
 Antonio Lorenzo                          135,723 
---------------------------------------  -------- 
 Vim Maru                                  74,704 
---------------------------------------  -------- 
 David Oldfield(2)                         32,273 
---------------------------------------  -------- 
 Miguel-Ángel Rodríguez-Sola    116,548 
---------------------------------------  -------- 
 Toby Strauss                              50,023 
---------------------------------------  -------- 
 Matt Young                               133,367 
---------------------------------------  -------- 
 

(1) The 2012 Deferred Bonus Award was awarded to Juan Colombás before he joined the Board as an Executive Director in November 2013 and accordingly vests in tranches from 2013 to 2016. The 2012 Deferred Bonus Award for George Culmer vests in two tranches in 2015.

(2) 2014 bonus award release only. Karin Cook and David Oldfield were not members of the Group Executive Committee during the relevant period of the PPI complaint handling investigation and accordingly their Deferred Bonus Awards for 2012 and 2013 were not frozen and were released in March 2015.

Mr Horta-Osório's annual bonus awards for 2012, 2013 and 2014 performance are subject to additional conditions including deferral for five years and accordingly will not be released in 2015. Juan Colombás and George Culmer's annual bonus awards for 2013 and 2014 performance are subject to deferral until at least March 2016 and 2017 respectively and accordingly do not vest in 2015.

Fixed Share Awards in 2015

On 25 June 2015, after the settlement of income tax and national insurance contributions, Shares were acquired on behalf of the PDMRs as listed in the table below in respect of the second quarter of 2015 under the Group's Fixed Share Award. The acquisition price was 87.12 pence per Share.

The Shares will be held on behalf of the PDMRs and will be released over five years, with 20 per cent being released each year on the anniversary of the award.

 
 Name                                      Shares 
---------------------------------------  -------- 
 António Horta-Osório           136,880 
---------------------------------------  -------- 
 Juan Colombás                        75,588 
---------------------------------------  -------- 
 George Culmer                             76,652 
---------------------------------------  -------- 
 Andrew Bester                             74,523 
---------------------------------------  -------- 
 Karin Cook                                22,813 
---------------------------------------  -------- 
 Antonio Lorenzo                           69,839 
---------------------------------------  -------- 
 Vim Maru                                  61,748 
---------------------------------------  -------- 
 David Oldfield                            61,748 
---------------------------------------  -------- 
 Miguel-Ángel Rodríguez-Sola     62,280 
---------------------------------------  -------- 
 Toby Strauss                              61,748 
---------------------------------------  -------- 
 Matt Young                                53,231 
---------------------------------------  -------- 
 

Executive Directors and Members of the Group Executive Committee continue to meet their current shareholding requirements.

These disclosures are made pursuant to the Financial Conduct Authority's Disclosure and Transparency Rule 3.1.4. The transactions 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

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

RDSBSGDLBGDBGUU