Director/PDMR Shareholding

RNS Number : 2021U
Aviva PLC
05 April 2016
 

05 April 2016

 

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 4 April 2016, 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 2013 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

LTIP

299p

569,459

268,589


300,870

447.01p


Kirstine Cooper

ABP

LTIP

299p

299p

61,397

123,962

28,964

58,472


32,433

65,490

447.01p 447.01p

Angela Darlington

ABP

LTIP

299p

299p

20,461

30,505

9,651

14,388


10,810

16,117

447.01p 447.01p

David McMillan

ABP

LTIP

299p

299p

43,702

158,827

20,540

74,649

23,162

84,178

0

0

447.01p 447.01p

Maurice Tulloch

ABP

LTIP

299p

299p

90,061

174,630

42,499

82,407


47,562

92,223

447.01p 447.01p

Jason Windsor

ABP

LTIP

299p

299p

81,314

145,270

38,352

68,517


42,962

76,753

447.01p 447.01p

 

·      As disclosed in the Aviva Annual Report, published on 29 March 2016, these shares vested in accordance with the rules of the Plans and following performance testing of the LTIP award. The grant of awards under the LTIP was for nil consideration.  The LTIP award vested at 53% following testing of Return on Equity (ROE) and Total Shareholder Return (TSR) performance factors, over a three year period (1 January 2013 to 31 December 2015).

 

·      The awards under the ABP and LTIP were granted at a price of £2.99 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 4 April 2016 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)

Euan Munro

465p

75,594

35,654

39,940

447.01p

Chris Wei

530p

52,771

6,434

46,337

447.01p

 

·      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 for Chris Wei and £4.65 per share for Euan Munro, 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 Munro was made upon his recruitment, in March 2014, and prior to him becoming a PDMR. This is the final release under this award.

 

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

 

This announcement is made pursuant to Disclosure and Transparency Rule 3.1.4. Aviva was notified of the above transactions on 4 April 2016.

 

 

Media Enquiries:

Andrew Reid                                                         +44 (0)7800 694276

 

General Enquiries:

Roy Tooley, Company Secretarial                                    +44 (0)207 662 6019

 

 


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