Director/PDMR Shareholding

RNS Number : 1342X

Aviva PLC

26 August 2015

 

26 August 2015

AVIVA PLC ("Aviva")

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

Aviva announces that:

The Aviva Chief Financial Officer Award 2014 (CFO Award)

·      As announced on 24 March 2015, consistent with the terms of his employment agreement, Mr Stoddard received a CFO Award to partially compensate him for deferred compensation he forfeited on resignation from his previous employer.  The award under the CFO Award will vest in stages in 2015, 2016 and 2017. 

·      Accordingly on 26 August 2015 the first tranche of the CFO Award vested and Mr  Stoddard received the following Aviva ordinary shares of 25 pence each (Shares):

Name	Price at which Shares granted (pence)	Shares received
Tom Stoddard	509p	28,106

·      These Shares vested in accordance with the rules of the CFO Award:

o  The CFO Award was made for nil consideration. 

o  The CFO Award was granted at a price of £5.09 per share, which was based on the average share price of an Aviva ordinary share 3 days prior to Mr Stoddard joining the Company.  

o  The releases under the CFO Award include additional Shares received in lieu of dividends, which are subject to tax.

·      The awards have been settled on a net-of-tax basis.

This announcement is made pursuant to Disclosure and Transparency Rule 3.1.4. Aviva was notified of the above transactions on 26 August 2015.

Media Enquiries:

Andrew Reid                                                                  [phone]

General Enquiries:

Elena Petrou, Company Secretarial                                 [phone]

 

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