Director/PDMR Shareholding

RNS Number : 0388U

Aviva PLC

26 March 2019

 

26 March 2019

AVIVA PLC ("Aviva")

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

Aviva announces that:

·    On 25 March 2019, the undernoted PDMRs were granted conditional awards over Aviva plc ordinary shares under the Aviva Annual Bonus Plan 2011 ("ABP") and the Aviva Long Term Incentive Plan 2011 ("LTIP"). The ABP awards represent the deferral, for a period of three years, of a percentage of the bonuses paid to PDMRs in respect of 2018.  For Executive Directors two thirds of their ABP bonus was deferred into shares. The Executive Director ABP and LTIP awards are also set out in the Directors' Remuneration Report published in the 2018 Annual Report and Accounts.

·    The ABP awards for the PDMRs will vest in three equal annual tranches in accordance with the plan rules.

·    The LTIP awards for the PDMRs will vest in 2022 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 2024.

·    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 (2019 to 2021) must exceed 12% p.a.

·      The Solvency II Shareholder Cover Ratio must be maintained at or above the minimum of our stated range - currently 160% to 180%.

These targets will be measured over a three-year performance period from 1 January 2019 to 31 December 2021. 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 the Capital Requirements Directive IV (CRD IV) regulations. Under the CRD IV regulations individual performance is considered at both the point of grant and also prior to any vesting.

·    Under each of the ABP and 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 ABP and LTIP shares awarded was £4.21 being the average of the mid-market closing price of an Aviva ordinary share on the three consecutive business days immediately proceeding 25 March 2019, in line with other employees.

PDMRs	Number of ABP shares awarded	Number of LTIP Shares Awarded
Maurice Tulloch	94,717	694,774
Nitinbhai Amin	65,970	237,529
Andy Briggs	100,015	401,846
Kirstine Cooper	46,505	237,529
Angela Darlington	46,138	237,529
Euan Munro	161,197	178,147
Tom Stoddard	97,548	391,938
Chris Wei	104,242	356,294

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]

Liz Kennett                                                                                [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 Annual Bonus Plan 2011 (ABP).
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	65,970
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	65,970
e)	Date of the transaction	2019-03-25
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	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	237,529
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	237,529
e)	Date of the transaction	2019-03-25
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 and Chairman of Global Life
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 Annual Bonus Plan 2011 (ABP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	100,015
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	100,015
e)	Date of the transaction	2019-03-25
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 and Chairman of Global Life
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	401,846
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	401,846
e)	Date of the transaction	2019-03-25
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 Annual Bonus Plan 2011 (ABP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	46,505
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	46,505
e)	Date of the transaction	2019-03-25
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	237,529
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	237,529
e)	Date of the transaction	2019-03-25
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 Annual Bonus Plan 2011 (ABP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	46,138
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	46,138
e)	Date of the transaction	2019-03-25
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	237,529
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	237,529
e)	Date of the transaction	2019-03-25
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 Annual Bonus Plan 2011 (ABP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	161,197
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	161,197
e)	Date of the transaction	2019-03-25
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	178,147
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	178,147
e)	Date of the transaction	2019-03-25
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 Annual Bonus Plan 2011 (ABP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	97,548
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	97,548
e)	Date of the transaction	2019-03-25
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	391,938
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	391,938
e)	Date of the transaction	2019-03-25
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
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 Annual Bonus Plan 2011 (ABP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	94,717
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	94,717
e)	Date of the transaction	2019-03-25
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
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	694,774
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	694,774
e)	Date of the transaction	2019-03-25
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 FPI 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 Annual Bonus Plan 2011 (ABP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	104,242
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	104,242
e)	Date of the transaction	2019-03-25
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 FPI 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 Plan 2011 (LTIP)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil cost option	356,294
d)	Aggregated information -      Aggregated volume -      Price	Nil cost option	356,294
e)	Date of the transaction	2019-03-25
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

 

END

 

 

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