Legal & General Group Plc Director/PDMR Shareholding (1603P)
June 05 2020 - 12:00PM
UK Regulatory
TIDMLGEN
RNS Number : 1603P
Legal & General Group Plc
05 June 2020
Legal & general group plc
Notification of Transactions of Directors, Persons Discharging
Managerial Responsibilities ("PDMRs") and persons closely
associated with them
The following notification made under article 19.1 and 19.3 of
the Market Abuse Regulation ("MAR") relates to:
-- the exercise of an award granted on 14 April 2015 under the
terms of the Legal & General Group Performance Share Plan 2015
(PSP 2015);
-- the exercise of awards granted on 21 April 2016 under the
terms of the Legal & General Group Performance Share Plan 2016
(PSP 2016); and
-- the exercise of an award granted on 18 April 2017 under the
terms of the Legal & General Group Performance Share Plan 2017
(PSP 2017).
The performance conditions attached to the PSP 2015 award
provide that the award vests, subject to satisfaction of the
performance conditions, after the announcement of the results for
2017 with one third of vested options becoming exercisable
immediately, the second third becoming exercisable after the
announcement of the 2018 results and the remaining third after the
announcement of the 2019 results. PSP awards must be exercised by
the seventh anniversary of the date of grant.
The performance conditions attached to the PSP 2016 award
provide that the award vests, subject to satisfaction of the
performance conditions, after the announcement of the 2018 results.
One third of the vested options will be exercisable immediately
with the second third becoming available after the announcement of
the 2019 results and the remaining third after the announcement of
the 2020 results. Options must be exercised by the seventh
anniversary of the date of grant.
The performance conditions attached to the PSP 2017 award
provide that the award vests, subject to satisfaction of the
performance conditions, after the announcement of the 2019 results.
One third of the vested options will be exercisable immediately
with the second third becoming available after the announcement of
the 2020 results and the remaining third after the announcement of
the 2021 results. Options must be exercised by the seventh
anniversary of the date of grant.
Number Shares Shares
of shares sold to retained
exercised cover by individual
on 4 June tax
2020 (price
GBP2.2950)
166,380 76,512 89,868
------------ ---------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Simon Gadd
2 Reason for the notification
a) Position/status Group Chief Risk Officer/PDMR
b) Initial Initial Notification
notification/Amendment
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Legal & General Group Plc
b) LEI 213800JH9QQWHLO99821
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 Ordinary shares of GBP0.025 each, with voting rights attached
instrument, type of GB0005603997
instrument
Identification code
b) Nature of transaction 1. Exercise of PSP 2015, PSP 2016 and PSP 2017 awards of nil cost options
over 166,380 shares
.
2. Sale of 76,512 shares to cover tax and dealing costs. 89,868 shares
retained.
c) Price(s) and volume(s) Price(s) Volume
1. Nil cost 1. 166,380
2. GBP2.2950 2. 76,512
d) Aggregated information 1. Price 1. Volume 1. Total
- Aggregated volume
- Price
1. GBP0.00 1. 166,380 1. GBP0.00
2. Price 2. Volume 2. Total
2. GBP2.2950 2. 76,512 2. GBP175,595.04
e) Date of the transaction 04 June 2020
f) Place of the transaction London Stock Exchange, XLON
05 June 2020
Daniella Newson
Assistant Company Secretary
Legal & General Group Plc
Tel: 0203 124 2107
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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