REG - Aviva PLC - Director/PDMR Shareholding - LTIP Grant

AvivaAnnouncement

15/05/2018 10:55

RNS Number : 1214O
Aviva PLC
15 May 2018
 

15 May 2018
 
AVIVA PLC ("Aviva")
 
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
 
Aviva announces that:
 
·    On 11 May 2018, the undernoted PDMRs were granted conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 ("LTIP").
 
·    The LTIP awards for the PDMRs will vest in 2021 in accordance with the plan rules. LTIP awards for Executive Directors are subject to an additional two year post-vesting holding period and therefore will be released in 2023.
 
·    The awards for the Executive Directors were previously disclosed in Aviva's 2017 Annual Report and Accounts, published on the 27th March 2018. The awards have been granted following the approval of Aviva's Remuneration Policy at its AGM on 10 May.
 
·    The LTIP awards are subject to the achievement of performance targets (50% based on Operating Earnings per Share and 50% based on relative Total Shareholder Return against a comparator group). Any vesting of the Operating EPS element of the LTIP is subject to two gateway hurdles:
·      The average Operating RoE over the 3-year performance period (2018 to 2020) must exceed 12% p.a.
·      The Solvency II Shareholder Cover Ratio must be maintained at or above the minimum of our stated range - currently 150% to 180%.
These targets will be measured over a three year performance period from 1 January 2018 to 31 December 2020. The amounts shown below represent the maximum possible opportunity.
 
·      In the case of Andy Briggs and Euan Munro, the awards are also subject to personal performance conditions, in line with CRD IV regulations.
 
·    Under each of the LTIP awards, additional shares are awarded at vesting in lieu of dividends on shares that vest.
 
·    The awards were made for nil consideration. 
 
·    The price used to calculate the number of LTIP shares awarded was £5.04, being the average of the mid-market closing price of an Aviva ordinary share on the three consecutive business days immediately proceeding 26 March 2018, in line with other employees.
 
 




PDMRs


Number of LTIP shares awarded




Nitinbhai Amin


198,412




Andy Briggs


325,892




Kirstine Cooper


198,412




Angela Darlington


198,412




Euan Munro


148,809




Tom Stoddard


317,857




Maurice Tulloch


310,863




Chris Wei


297,619




Mark Wilson


615,854




 
This announcement, in relation to transactions in London, United Kingdom, is made pursuant to with Article 19 of the EU Market Abuse Regulation 596/2014.
 
 
Media Enquiries:
Andrew Reid                                                                              +44 (0)207 662 3131
Sarah Swailes                                                                           +44 (0)207 662 6700
 
Share Award Enquiries:
Elena Petrou, Company Secretarial                                             +44 (0)207 662 1268
 



Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Nitinbhai Amin




2


Reason for the notification




a)


Position/status


Group Chief Operations and IT Officer




b)


Initial notification/Amendment


INITIAL NOTIFICATION




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


198,412




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
198,412




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 




 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Andrew Briggs




2


Reason for the notification




a)


Position/status


Chief executive officer UK Insurance




b)


Initial notification/Amendment


INITIAL NOTIFICATION




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


325,892




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
325,892




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON








 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Kirstine Cooper




2


Reason for the notification




a)


Position/status


Group General Counsel and 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


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


198,412




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
198,412




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 




 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Angela Darlington




2


Reason for the notification




a)


Position/status


Group 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


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


198,412




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
198,412




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 




 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Euan Munro




2


Reason for the notification




a)


Position/status


Chief executive officer, Aviva Investors
 




b)


Initial notification/Amendment


INITIAL NOTIFICATION




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


148,809




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
148,809




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 




 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Tom Stoddard




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


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


317,857




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
317,857




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 




 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Maurice Tulloch




2


Reason for the notification




a)


Position/status


Chief Executive Officer, International Insurance
 




b)


Initial notification/Amendment


INITIAL NOTIFICATION




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


310,863




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
310,863




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 




 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Chris Wei




2


Reason for the notification




a)


Position/status


Executive Chairman of Asia and Global Chairman Aviva Digital




b)


Initial notification/Amendment


INITIAL NOTIFICATION




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


297,619




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
297,619




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 




 
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
 




1


Details of the person discharging managerial responsibilities




a)


Name


Mark Wilson




2


Reason for the notification




a)


Position/status


Group 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


AVIVA PLC




b)


LEI


YF0Y5B0IB8SM0ZFG9G81




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
 


-      SHARES
 
-      GB0002162385




b)


Nature of transaction


Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP).
 




c)


Price(s) and volume(s)


Price(s)


Volume(s)




 


 


Nil cost option


615,854




d)


Aggregated information
-      Aggregated volume
-      Price
 


 
Nil cost option


 
615,854




e)


Date of the transaction


2018-05-11




f)


Place of the transaction


LONDON STOCK EXCHANGE, XLON




 



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The company news service from the London Stock Exchange
 
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