TIDMLGEN
RNS Number : 2580K
Legal & General Group Plc
20 April 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:
-- 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);
-- 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); 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 2014 award
provide that the award vests, subject to satisfaction of the
performance conditions, after the announcement of the 2016 results.
One third of the vested options will be exercisable immediately
with the second third becoming available after the announcement of
the 2017 results and the remaining third after the announcement of
the 2018 results. Options 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.
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.
Sufficient shares have been sold to cover tax liabilities, with
the remaining shares transferred to the participants.
This notification also relates to the vesting of conditional and
restricted shares awarded on 18 April 2017. These shares had vested
on 18 April 2020 and had been released under the terms of the Legal
& General Group 2010 Share Bonus Plan (SBP), in respect of the
Directors and PDMRs named below. Under the plan provisions, the
default of selling sufficient shares to cover tax liabilities and
retention of the remaining shares is applied if no election is
received from participants
PSP
Name Director/ Number Number Number Number Number Shares sold Shares
PDMR of shares of shares of shares of shares of shares to cover retained
awarded awarded awarded awarded exercised tax by individual
on 11 on 14 on 21 on 18 on 19 (price
June April April April April GBP2.054)
2014 2015 2016 2017 2020
Nigel
Wilson Director N/A 170,045 158,009 265,173 593,227 278,819 314,408
----------- ----------- ----------- ----------- ----------- ----------- ------------ --------------
Geoffrey
Timms PDMR 42,081 62,549 66,375 57,466 228,471 107,385 121,086
----------- ----------- ----------- ----------- ----------- ----------- ------------ --------------
SBP
Name Director/ PDMR Number of shares Number of shares Shares sold to Shares retained by
awarded on 18 vested on 18 April cover tax (price individual
April 2017 2020 GBP2.054)
Simon Gadd PDMR 34,068 34,068 16,012 18,056
Bernard Hickman PDMR 15,932 15,932 7,489 0
Christopher Knight PDMR 24,549 24,549 11,539 13,010
Stephen Licence PDMR 22,044 22,044 10,361 11,683
Laura Mason PDMR 15,531 15,531 7,300 8,231
Geoffrey Timms PDMR 25,551 25,551 12,009 13,542
Kerrigan Proctor Director 143,409 143,409 67,403 76,006
Nigel Wilson Director 279,053 279,053 131,156 147,897
PSP
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Nigel Wilson
2 Reason for the notification
a) Position/status Group Chief Executive/Director
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 593,227 shares
.
2. Sale of 278,819 shares to cover tax and dealing costs. The balance of
314,408 shares retained.
c) Price(s) and volume(s) Price(s) Volume
1. Nil cost 1. 593,227
2. GBP2.054 2. 278,819
d) Aggregated information 1. Price 1. Volume 1. Total
- Aggregated volume
- Price
1. GBP0.00 1. 593,227 1. GBP0.00
2. Price 2. Volume 2. Total
2. GBP2.054 2. 278,819 2. GBP572,694.23
e) Date of the transaction 19 April 2020
f) Place of the transaction London Stock Exchange, XLON
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Geoffrey Timms
2 Reason for the notification
a) Position/status Group General Counsel and Company Secretary/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 2014, PSP 2015, PSP 2016 and PSP 2017 awards of nil cost
options over 228,471
shares .
2. Sale of 107,385 shares to cover tax and dealing costs. The balance of
121,086 shares retained.
c) Price(s) and volume(s) Price(s) Volume
1. Nil cost 1. 228,471
2. GBP2.054 2. 107,385
d) Aggregated information 1. Price 1. Volume 1. Total
- Aggregated volume
- Price
1. GBP0.00 1. 228,471 1. GBP0.00
2. Price 2. Volume 2. Total
2. GBP2.054 2. 107,385 2. GBP220,568.79
e) Date of the transaction 19 April 2020
f) Place of the transaction London Stock Exchange, XLON
SBP
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 Ordinary shares of GBP0.025 each, with voting rights attached
financial instrument, type GB0005603997
of instrument
Identification code
b) Nature of transaction 1. Exercise of SBP Award of options over 34,068 shares
2. Sale of 16,012 shares to cover tax and social security . The balance of
18,056 shares retained.
c) Price(s) and volume(s) Price(s) Volume(s)
1. GBP0.00 1. 34,068
2. GBP2.054 2. 16,012
d) Aggregated information 1 Price 1 Volume 1. Total
- Aggregated volume
- Price
1 GBP0.00 1 34,068 1 0.00
2 Price 2 Volume 2. Total
2 GBP2.054 2 16,012 2 GBP32,888.65
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Bernard Hickman
2 Reason for the notification
a) Position/status Chief Executive Officer, Legal & General Insurance/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 SBP Award of options over 15,932 shares
2. Sale of 15,932 shares (7,489 shares to cover tax and social security) .
The balance of
0 shares retained.
c) Price(s) and volume(s) Price(s) Volume
1. GBP0.00 1. 15,932
2. GBP2.054 2. 15,932
d) Aggregated information 1 Price 1 Volume 1 Total
- Aggregated volume
- Price
1 GBP0.00 1 15,932 1 0.00
2 Price 2 Volume 2 Total
2 GBP2.054 2 15,932 2. GBP32,724.33
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
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 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 Ordinary shares of GBP0.025 each, with voting rights attached
financial instrument, type GB0005603997
of instrument
Identification code
b) Nature of transaction 1. Exercise of SBP Award of options over 24,549 shares
2. Sale of 11,539 shares to cover tax and social security . The balance of
13,010 shares retained.
c) Price(s) and volume(s) Price(s) Volume(s)
1. GBP0.00 1. 24,549
2. GBP2.054 2. 11,539
d) Aggregated information 1 Price 1 Volume 1 Total
- Aggregated volume
- Price
1 GBP0.00 1 24,549 1 GBP0.00
2 Price 2 Volume 2 Total
2 GBP2.054 2 11,539 2 GBP23,701.11
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Stephen Licence
2 Reason for the notification
a) Position/status Group Chief Internal Auditor/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 Ordinary shares of GBP0.025 each, with voting rights attached
financial instrument, type GB0005603997
of instrument
Identification code
b) Nature of transaction 1. Exercise of SBP Award of options over 22,044 shares
2. Sale of 10,361 shares to cover tax and social security . The balance of
11,683 shares retained.
c) Price(s) and volume(s) Price(s) Volume(s)
1. GBP0.00 1. 22,044
2. GBP2.054 2. 10,361
d) Aggregated information 1 Price 1 Volume 1 Total
- Aggregated volume
- Price
1 GBP0.00 1 22,044 1 GBP0.00
2 Price 2 Volume 2 Total
2 GBP2.054 2 10,361 2 GBP21,281.49
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Laura Mason
2 Reason for the notification
a) Position/status Chief Executive Officer, Legal & General Retirement, Institutional/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 SBP Award of options over 15,531 shares.
2. Sale of 7,300 shares to cover tax and social security . The balance of
8,231 shares retained.
c) Price(s) and volume(s) Price(s) Volume
1. GBP0.00 1. 15,531
2. GBP2.054 2. 7,300
d) Aggregated information 1 Price 1 Volume 1 Total
- Aggregated volume
- Price
1 GBP0.00 1 15,531 1 GBP0.00
2 Price 2 Volume 2 Total
2 GBP2.054 2 7,300 2. GBP14,994.20
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Geoffrey Timms
2 Reason for the notification
a) Position/status Group General Counsel and Company Secretary/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 SBP Award of options over 25,551 shares.
2. Sale of 12,009 shares to cover tax and social security. The balance of
13,542 shares retained.
c) Price(s) and volume(s) Price(s) Volume
1. GBP0.00 1. 25,551
2. GBP2.054 2. 12,009
d) Aggregated information 1 Price 1 Volume 1 Total
- Aggregated volume
- Price
1 GBP0.00 1 25,551 1 GBP0.00
2 Price 2 Volume 2 Total
2 GBP2.054 2 12,009 2. GBP24,666.49
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Kerrigan Procter
2 Reason for the notification
a) Position/status Chief Executive Officer, Legal & General Capital/Director
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 Ordinary shares of GBP0.025 each, with voting rights attached
financial instrument, type GB0005603997
of instrument
Identification code
b) Nature of transaction 1. Exercise of SBP Award of options over 143,409 shares
2. Sale of 67,403 shares to cover tax and social security . The balance of
76,006 shares retained.
c) Price(s) and volume(s) Price(s) Volume
1. GBP0.00 1. 143,409
2. GBP2.054 2. 67,403
d) Aggregated information 1 Price 1 Volume 1 Total
- Aggregated volume
- Price
1 GBP0.00 1 143,409 1 0.00
2 Price 2 Volume 2 Total
2 GBP2.054 2 67,403 2 138,445.76
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Nigel Wilson
2 Reason for the notification
a) Position/status Group Chief Executive Officer/ Director
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 Ordinary shares of GBP0.025 each, with voting rights attached
financial instrument, type GB0005603997
of instrument
Identification code
b) Nature of transaction 1. Exercise of SBP Award of options over 279,053 shares
2. Sale of 131,156 shares to cover tax and social security . The balance of
147,897 shares
retained.
c) Price(s) and volume(s) Price(s) Volume(s)
1. GBP0.00 1. 279,053
2. GBP2.054 2. 131,156
d) Aggregated information 1 Price 1 Volume 1. Total
- Aggregated volume
- Price
1 GBP0.00 1 279,053 1 GBP0.00
2 Price 2 Volume 2. Total
2 GBP2.054 2. 131,156 2 GBP269,394.42
e) Date of the transaction 18 April 2020
f) Place of the transaction London Stock Exchange, XLON
20 April 2020
Daniella Newson
Assistant Company Secretary
Legal & General Group Plc
Tel: 0203 124 2107
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contact rns@lseg.com or visit www.rns.com.
END
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April 20, 2020 12:30 ET (16:30 GMT)
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