REG - Legal & General Grp - Director/PDMR Shareholding

Legal & GeneralAnnouncement

21/03/2019 17:00

RNS Number : 6395T
Legal & General Group Plc
21 March 2019
 


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 articles 19.1 and 19.3 of the Market Abuse Regulation ("MAR") relates to:
·      the exercise of an award granted on 11 June 2014 under the terms of the Legal & General Group Performance Share Plan 2014 (PSP 2014); and
·      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 an award granted on 21 April 2016 under the terms of the Legal & General Group Performance Share Plan 2016 (PSP 2016).
The performance conditions attached to the PSP 2014 award provide that one third of the vested options become exercisable subject to the 2016 results with the second third becoming exercisable after the announcement of the 2017 results and the remaining third after the announcement of the 2018 results.  PSP awards must be exercised by the seventh anniversary of the date of grant.
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.



Name


Director/ PDMR


Number of shares awarded on 11 June 2014


Number of shares awarded on 14 April 2015


Number of shares awarded on 21 April 2016


Number of shares exercised on 20 March 2019


Total shares sold


Shares retained by individual




Christopher Knight


PDMR


33,928


24,492
 


22,644
 


81,064
 


81,064
 


0



 
 
 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Christopher Knight




2


Reason for the notification




a)


Position/status


Chief Executive Officer, Legal & General Retirement, Retail/PDMR




b)


Initial notification/Amendment


Initial Notification




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 instrument, type of instrument
Identification code


Ordinary shares of £0.025 each, with voting rights attached
 GB0005603997




b)


Nature of transaction


1.   Exercise of PSP 2014 award of nil cost options over 33,928 shares, exercise of PSP 2015 award of nil cost options over 24,492 shares, exercise of PSP 2016 award of nil cost options over 22,644 shares.
 
2.   Sale of 81,064 shares.




c)
 


Price(s) and volume(s)
 


Price(s)


Volume




1.   Nil cost


1.   81,064




2.   £2.769


2.   81,064




d)


Aggregated information
-      Aggregated volume
-      Price


1.   Price


1.   Volume


1.   Total




1.   £0.00


1.   81,064


1.   £0.00


















2.   Price


2.   Volume


2.   Total




2.   £2.769


2.   81,064


2.   £224,466.22




e)


Date of the transaction


20 March 2019




f)


Place of the transaction


London Stock Exchange, XLON



 
21 March 2019
 
Daniella Newson
Assistant Company Secretary
Legal & General Group Plc
Tel: 0203 124 2107




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