Director/PDMR Shareholding - LTIP Grant

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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Aviva (AV.)
UK 100

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