Director/PDMR Shareholding - vesting of awards

RNS Number : 7352A

Aviva PLC

28 March 2017

 

28 March 2017

AVIVA PLC ("Aviva")

NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")

Aviva announces that:

Aviva Annual Bonus Plan 2011 (ABP) and the Aviva Long Term Incentive Plan 2011 (LTIP)

·      On 24 March 2017, in London, and in line with the normal timetable, the following PDMRs received Aviva ordinary shares of 25 pence each (Shares) following the vesting of awards granted in 2014 under the ABP and the LTIP (the Plans). Disposals have also been made, including to cover the cost of taxes and sales fees, as set out below.

Name	ABP or LTIP	Price at which Shares granted (pence)	Shares received from ABP or LTIP awards	No. of Shares sold to cover taxes and costs	Other disposal of shares	No. of Shares retained net of taxes and costs	Price at which Shares sold (pence)
Mark Wilson	ABP LTIP	489p 489p	170,780 282,129	80,694 133,070	90,086 0	0 149,059	525p 525p
Nitinbhai Amin	ABP LTIP	489p 489p	40,945 76,769	19,317 36,213	0 0	21,628 40,556	525p 525p
Kirstine Cooper	ABP LTIP	489p 489p	45,541 67,173	21,519 31,687	24,022 0	0 35,486	525p 525p
Angela Darlington	ABP LTIP	489p 489p	12,417 21,591	5,857 10,184	0 0	6,560 11,407	525p 525p
Euan Munro	LTIP	489p	95,962	45,261	0	50,701	525p 525p
Tom Stoddard	LTIP	489p	142,747	67,327	0	75,420	525p
Maurice Tulloch	ABP LTIP	489p 489p	48,213 99,560	25,933 53,486	22,280 0	0 46,074	525p 525p

·      Following this transaction, Mark Wilson maintains a shareholding equivalent of 312% of his salary, using the share price at release of £5.25, with a current total shareholding of 599,929. Shareholding requirement for Mark is 300%. The other PDMRs selling have also met their shareholding requirement.

·      As disclosed in the Aviva Annual Report, published on 28 March 2017, these shares vested in accordance with the rules of the Plans and following performance testing of the LTIP award. The ABP awards that vested represented the deferral of two thirds of the bonus awarded in 2014. The grant of awards under the LTIP was for nil consideration.  The LTIP award vested at 41.3% following testing of Return on Equity (ROE) and Total Shareholder Return (TSR) performance factors, over a three year period (1 January 2014 to 31 December 2016).

·      The awards under the ABP and LTIP were granted at a price of £4.89 per share which was based on the average share price of an Aviva ordinary share for 3 days prior to the date of grant.  

·      The releases under the ABP and LTIP include additional Shares received in lieu of dividends, which are subject to tax.

Aviva Recruitment and Retention Share Award Plan (RRSAP)

·      Also on 24 March 2017 the following PDMRs received Shares following the vesting of awards granted under the RRSAP. Awards granted under RRSAP were made to replace, on a like for like basis, deferred compensation forfeited on resignation from previous employers.

Name	Price at which Shares granted (pence)	Shares received RRSAP awards	No. of Shares sold to cover taxes and costs	No. of Shares received net of taxes and costs	Price at which Shares sold (pence)
Chris Wei	530p 530p	129,021 8,859	18,340 1,259	110,681 7,600	525p 525p

·      These Shares vested in accordance with the rules of the RRSAP. The grant of awards under the RRSAP was for nil consideration.  The awards under the RRSAP were granted at a price of £5.30 per share, which was based on the average share price of an Aviva ordinary share for 3 days prior to the date these individuals joined the company.  

·      The releases under the RRSAP include additional Shares received in lieu of dividends, which are subject to tax.

·      The award for Mr Wei is as announced 24 March 2015. 

This announcement is made pursuant to Article 19 of the EU Market Abuse Regulation 596/2014. Aviva was notified of the above transactions on 24 March 2017.

Media Enquiries:

Andrew Reid                                                         [phone]

General 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/person closely associated
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	VESTING OF 170,780 ABP 2014 SHARES AND 282,129 LTIP 2014 SHARES. 213,764 SHARES SOLD TO COVER TAX AND DISPOSAL OF 90,086 SHARES LEAVING BALANCE OF 149,059 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.       Nil Consideration 2.       £5.25	452,909 303,850
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £1,595,212.50	452,909 303,850
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
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	VESTING OF 40,945 ABP 2014 SHARES AND 76,769 LTIP 2014 SHARES. 55,530 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 62,184 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.         Nil Consideration 2.       £5.25	117,714 55,530
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £291,532.50	117,714 55,530
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
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	VESTING OF 45,541 ABP 2014 SHARES AND 67,173 LTIP 2014 SHARES. 53,206 SHARES SOLD TO COVER TAX AND DISPOSAL OF 24,022 SHARES LEAVING BALANCE OF 35,486 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.         Nil Consideration 2.       £5.25	112,714 77,228
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £405,447	112,714 77,228
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
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	VESTING OF 12,417 ABP 2014 SHARES AND 21,591 LTIP 2014 SHARES. 16,041 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 17,967 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.       Nil Consideration 2.       £5.25	34,008 16,041
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £84,215.25	34,008 16,041
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
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	VESTING OF 95,962 LTIP 2014 SHARES. 45,261 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 50,701 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.       Nil Consideration 2.       £5.25	95,962 45,261
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £237,620.25	95,962 45,261
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	THOMAS 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	VESTING OF 142,747 LTIP 2014 SHARES. 67,327 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 75,420 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.       Nil Consideration 2.       £5.25	142,747 67,327
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £353,466.75	142,747 67,327
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
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	VESTING OF 48,213 ABP 2014 SHARES AND 99,560 LTIP 2014 SHARES. 79,419 SHARES SOLD TO COVER TAX AND DISPOSAL OF 22,280 SHARES LEAVING BALANCE OF 46,074 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.       Nil Consideration 2.       £5.25	147,773 101,699
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £533,919.75	147,773 101,699
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	CHRIS WEI
2	Reason for the notification
a)	Position/status	EXECUTIVE CHAIRMAN OF ASIA AND FPI AND GLOBAL CHAIRMAN OF 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	VESTING OF 137,880 RRSAP SHARES. 19,599 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 118,281 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.       Nil Consideration 2.       £5.25	137,880 19,599
d)	Aggregated information -     Aggregated volume -     Price	1. - £0.00 per share - Total Price £0.00 2. - £5.25 per share -         Total Price £102,894.75	137,880 19,599
e)	Date of the transaction	2017-03-24
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

 

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