DLG.L

Direct Line Insurance Group
Direct Line Ins Grp - Director/PDMR Shareholding
14th November 2024, 15:04
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RNS Number : 3149M
Direct Line Insurance Group PLC
14 November 2024
 

DIRECT LINE INSURANCE GROUP PLC ("DLG")

 

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")

 

14 NOVEMBER 2024

  

Following the appointment of Jane Poole as Chief Financial Officer on 10 October 2024, a Restricted Share Award ("RSP") has been made to Ms Poole over ordinary shares of 10 10/11 pence each in DLG, to compensate her for remuneration arrangements forfeited on leaving her former employer. Performance conditions do not apply to the RSP awards.

 

In addition, and in accordance with DLG's remuneration policy, an award has been made to Ms Poole under the DLG 2020 Long Term Incentive Plan (the "LTIP") over ordinary shares of 10 10/11 pence each in DLG. The number of shares awarded under the LTIP is based on the average closing share price over the three trading days prior to the date of grant, equal to £1.65.

 

RSP Awards

The Remuneration Committee has approved the following awards to Ms Poole to compensate her for remuneration arrangements forfeited on leaving Aviva. Performance conditions do not apply to these awards.

 

Scheme Replaced

Number of options awarded

Normal Vesting Date

a)   Deferred bonus 2022

30,444

21/3/2025

b)   Deferred bonus 2023

44,903

44,906

21/3/2025

20/3/2026

c)   Deferred bonus 2024

41,332

41,332

41,334

28/3/2025

27/3/2026

25/3/2027

d)   LTIP 2022

150,149

21/3/2025

e)   LTIP 2022

25,044

11/8/2025

f)    LTIP 2023

136,128

20/3/2026

g)   One-off award 2024

76,468

76,468

22/9/2025

22/9/2026

 

All RSP awards will accrue dividend equivalent shares until vesting.

 

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014(as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Jane Poole

 

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer / PDMR

 

b)

 

Initial notification /Amendment

 

Initial Notification

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 the financial instrument, type of instrument

 

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

b)

 

Nature of the transaction

 

 

(i)         Award of three years' nil cost options under the Direct Line Insurance Group plc 2020 Long Term Incentive Plan. The award represents the regular 2024 award, has a total face value of 200% of annual base salary and is subject to the same performance conditions as awards made to DLG's PDMRs earlier in the year (except that Total Shareholder Return will be measured over the three years commencing on the date of grant); and

(ii)        Award of nil cost options under the Restricted Share Plan.

 

c)

 

Price(s) and volume(s)

 

 

 

Price

Volume

(i)

Nil cost options

668,693

(ii)

Nil cost options

708,508




d)

 

Aggregated information

- Aggregated volume

- Price

 

N/A  

 

e)

 

Date of the transaction

 

11 November 2024

f)

 

Place of the transaction

 

Off market

 

Following the appointment of Martin Milliner as Managing Director, Claims on 1 October 2024, awards have been made to Martin under the DLG RSP to compensate him for remuneration arrangements forfeited on leaving his former employer. Performance conditions do not apply to these awards.

 

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014(as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Martin Milliner

2

 

Reason for the notification

 

a)

 

Position/status

 

Managing Director, Claims / PDMR

 

b)

 

Initial notification /Amendment

 

Initial Notification

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 the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 10 10/11 pence ("Shares")

 

 

 

GB00BY9D0Y18

 

b)

 

Nature of the transaction

 

 

Award of nil cost options under the Restricted Share Plan. The award vests in one tranche.

 

c)

 

Price(s) and volume(s)

 

 

 

Price

Volume

Nil cost options

73,778



d)

 

Aggregated information

- Aggregated volume

- Price

 

 

N/A  

 

e)

 

Date of the transaction

 

11 November 2024

f)

 

Place of the transaction

 

Off market

 

 

For any enquiries relating to this announcement, please contact: 

 

Roger Clifton

Company Secretary

Email:  Roger.Clifton@directlinegroup.co.uk

 

 

LEI: 213800FF2R23ALJQOP04

 

 

 

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