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                                                                              [phone]

Sarah Swailes                                                                           [phone]

Share Award Enquiries:

Elena Petrou, Company Secretarial                                             [phone]

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

 

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