Director/PDMR Shareholding

RNS Number : 6338D

Standard Life plc

31 March 2014

 



Standard Life plc

('the Company')

Notification of Interests of Executive Directors and Other Persons Discharging Managerial Responsibility ('PDMRs')

On 28 March 2014, the Company granted to the individuals noted in the table below awards under the following plans:

·   2014 Standard Life Investments Long Term Incentive Plan (SLI LTIP) - An award in the form of nil-cost options ('2014 Standard Life Investments LTIP Award') to acquire ordinary shares in the capital of the Company, subject to the rules of the Standard Life Investments Long Term Incentive Plan.

The Award will normally vest on 28 March 2017. The Award will only begin to vest if Standard Life Investments' performance is above the lower quartile of the money-weighted average of all assets under management (both captive and third party assets) compared to other asset managers. Investment performance is based on the three year money-weighted average investment performance of Standard Life Investments against relevant benchmarks. The level of vesting, subject to this performance condition, will be based on consolidated, cumulative, three year third party earnings before interest and tax performance, as shown in the 2013 Directors Remuneration Report. Once vested, an Award may be exercised in the 6 months thereafter.

·   2013 Short Term Incentive Plan - 2014 Deferred Share Award - Awards in the form of nil-cost options ('2014 Deferred Share Awards') over existing ordinary shares in the Company.  The level of shares granted to each individual represented a proportion of his annual bonus for 2013.

These Awards will normally vest on 28 March 2016 conditional on continued employment and subject to the rules of the 2013 Standard Life Short Term Incentive Plan.  Once vested, an Award may be exercised in the 6 months thereafter.

·    Individual Awards under the Restricted Stock Plan - An award under the Standard Life Restricted Stock Plan ('RSP Award') over existing ordinary shares in the Company, subject to the rules of the Standard Life Long Term Restricted Stock Plan.

The RSP Award will normally vest on 28 March 2017. 

No consideration is payable on the grant or vesting of all of the above Awards.  During the vesting periods, all of the above awards carry a right to receive dividend equivalents, to the extent that the awards vest.

The table below also includes the cumulative total of outstanding shares awarded to each individual previously granted under the 2011, 2012 and 2013 Group LTIP; the 2012 and 2013 Deferred Share awards under the 2011 and 2012 Short Term Incentive Plans; 2011, 2012 and 2013 SLI LTIP; any unvested Restricted Stock Plan (RSP) awards and awards under the 2011 Sharesave Plan.

	Number of Shares awarded under 2014 Standard Life Investments LTIP Award	Number of Shares awarded under 2014 Deferred Share Awards	Number of Shares awarded under The Standard Life Restricted Stock Plan	Cumulative total number of outstanding Shares awarded under LTIPs, RSPs, Deferred Share and Sharesave
Executive Directors
David Thomas Nish		121,991		2,340,451
Norman Keith Skeoch	237,818	14,503		2,323,887
Other PDMRs
Alexander Hugh McCormack Begbie		30,738		591,936
Charles Guay		21,087		374,678
Paul Stephen Matthews		42,265		719,144
Ranjit Singh		22,976	44,120	181,059

This notice is given in fulfilment of obligations under DTR 3.1.4 (R).

31 March 2014

Enquiries:

Steve Hartley, Media Relations, 0131 245 1365

Kenneth Gilmour, Group Secretariat, 0131 245 0751

 

END

 

 

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