Director/PDMR Shareholding
26 March 2024
Aviva plc
Notification of Transactions of Directors and Persons Discharging Managerial Responsibilities (PDMRs)
Vesting of Aviva Annual Bonus Plan (ABP) and Aviva Long Term Incentive Plan (LTIP)
On 22 March 2024, the following PDMRs received Aviva Ordinary Shares of 3217/19 pence each (Shares) following the vesting of awards:
|
PDMR |
Award |
No. of Shares vested |
No. of Shares sold |
No. of Shares held |
|
Amanda Blanc |
LTIP (2021) ABP (2021) ABP (2022) ABP (2023) |
841,380 39,850 106,077 117,669 |
396,440 18,776 49,981 55,443 |
444,940 21,074 56,096 62,226 |
|
Charlotte Jones |
ABP (2023) |
16,633 |
7,837 |
8,796 |
|
Douglas Brown |
LTIP (2021) ABP (2022) ABP (2023) |
336,550 36,039 37,261 |
158,575 36,039 37,261 |
177,975 - - |
|
Jason Storah |
LTIP (2021) ABP (2021) ABP (2022) ABP (2023) |
218,412 14,713 26,255 26,788 |
118,882 8,008 14,147 13,956 |
99,530 6,705 12,108 12,832 |
|
Mark Versey |
LTIP (2021) ABP (2022) ABP (2023) |
105,171 34,970 26,127 |
105,171 34,970 26,127 |
- - - |
The awards were released at a price of 494.5 pence.
The number of Shares vested included additional Shares received in lieu of dividends, which are subject to tax.
The awards have been settled on a net-of-tax basis.
The LTIP awards vested in accordance with the rules of the plan and following performance testing.
Amanda Blanc's LTIP award, following the sale of a proportion of vested awards to cover taxes, is subject to a two-year holding period.
Douglas Brown's and Mark Versey's LTIP awards have personal performance conditions aligned with CRD IV requirements.
Grant of ABP, LTIP and Aviva Recruitment and Retention Share Award Plan (RRSAP) awards
On 25 March 2024, the following PDMRs were granted conditional awards over Shares:
|
PDMR |
No. of Shares awarded under ABP |
No. of Shares awarded under LTIP |
No. of Shares awarded under RRSAP |
|
Amanda Blanc |
259,288 |
773,006 |
- |
|
Charlotte Jones |
123,511 |
325,562 |
- |
|
Douglas Brown |
91,002 |
299,591 |
- |
|
Tracy Garrad |
17,081 |
260,736 |
- |
|
James Hillman |
45,807 |
214,723 |
111,108 |
|
Jason Storah |
79,243 |
265,848 |
- |
|
Mark Versey |
- |
83,333 |
- |
The awards were granted for nil consideration.
The price used to calculate the number of shares awarded under the ABP and LTIP was 489 pence.
The ABP awards represent the deferral for a period of three years of a percentage of the bonuses paid to PDMRs in respect of 2023 and will vest in three equal annual tranches in accordance with the plan rules.
The LTIP awards will vest in 2027 in accordance with the plan rules, subject to the achievement of the performance conditions outlined in the Remuneration Policy. Performance will be measured over a three-year performance period from 1 January 2024 to 31 December 2026.
The LTIP awards granted to Executive Directors are subject to a two-year post-vesting holding period and therefore will be released in 2029.
The LTIP award granted to Mark Versey is subject to a six-month post-vesting holding period and therefore will be released in September 2027.
The LTIP awards granted to Douglas Brown and Mark Versey are also subject to personal performance conditions, in line with Investment Firms Prudential Regime (IFPR) regulations. Individual performance is therefore considered at both the point of grant and prior to any vesting.
The RRSAP award was granted to James Hillman to replace, on like for like basis, deferred compensation forfeited on resignation from his previous employer. The price used to calculate the number of RRSAP shares awarded is 422 pence, being the average of the mid-market closing price of a Share on the three consecutive business days immediately preceding 27 November 2023, being his start date.
Under each of the ABP, LTIP and RRSAP awards, additional shares are awarded at vesting in lieu of dividends on the shares that vest.
This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
|
1 |
Details of the person discharging managerial responsibilities |
||
|
a) |
Name |
Amanda Blanc |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Group Chief Executive Officer
|
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer |
||
|
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
GB00BPQY8M80 |
|
|
b) |
Nature of transaction |
1. Vesting of 1,104,976 Shares under the LTIP 2021 and ABP 2021, 2022, 2023. 2. Sale of 520,640 Shares. 3. Grant of conditional awards over Shares under the Aviva Long Term Incentive Plan. 4. Grant of conditional awards over Shares under the Aviva Annual Bonus Plan. |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
1. £4.945 2. £4.945 3. Nil 4. Nil |
1. 1,104,976 2. 520,640 3. 773,006 4. 259,288 |
|
d) |
Aggregated information |
Price(s) |
Aggregate volume(s) |
|
|
|
1. £5,464,106.32 2. £2,574,564.80 3. Nil 4. Nil |
1. 1,104,976 2. 520,640 3. 773,006 4. 259,288 |
|
e) |
Date of the transaction |
1. 2024-03-22 2. 2024-03-22 3. 2024-03-25 4. 2024-03-25 |
|
|
f) |
Place of the transaction |
1. London Stock Exchange, XLON 2. London Stock Exchange, XLON 3. Outside a trading venue 4. Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities |
||
|
a) |
Name |
Charlotte Jones |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Group Chief Financial Officer |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer |
||
|
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
GB00BPQY8M80 |
|
|
b) |
Nature of transaction |
1. Vesting of 16,633 Shares under the ABP 2023. 2. Sale of 7,837 Shares. 3. Grant of conditional awards over Shares under the Aviva Long Term Incentive Plan. 4. Grant of conditional awards over Shares under the Aviva Annual Bonus Plan. |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
1. £4.945 2. £4.945 3. Nil 4. Nil |
1. 16,633 2. 7,837 3. 325,562 4. 123,511 |
|
d) |
Aggregate information |
Price(s) |
Aggregate volume(s) |
|
|
|
1. £82,250.18 2. £38,753.96 3. Nil 4. Nil |
1. 16,633 2. 7,837 3. 325,562 4. 123,511 |
|
e) |
Date of the transaction |
1. 2024-03-22 2. 2024-03-22 3. 2024-03-25 4. 2024-03-25 |
|
|
f) |
Place of the transaction |
1. London Stock Exchange, XLON 2. London Stock Exchange, XLON 3. Outside a trading venue 4. Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities |
||
|
a) |
Name |
Douglas Brown |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
CEO of Insurance, Wealth & Retirement |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer |
||
|
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
GB00BPQY8M80 |
|
|
b) |
Nature of transaction |
1. Vesting of 409,850 Shares under the LTIP 2021 and ABP 2022, 2023. 2. Sale of 231,875 Shares. 3. Grant of conditional awards over Shares under the Aviva Long Term Incentive Plan. 4. Grant of conditional awards over Shares under the Aviva Annual Bonus Plan. |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
1. £4.945 2. £4.945 3. Nil 4. Nil |
1. 409,850 2. 231,875 3. 299,591 4. 91,002 |
|
d) |
Aggregate information |
Price(s) |
Aggregate volume(s) |
|
|
|
1. £2,026,708.25 2. £1,146,621.88 3. Nil 4. Nil |
1. 409,850 2. 231,875 3. 299,591 4. 91,002 |
|
e) |
Date of the transaction |
1. 2024-03-22 2. 2024-03-22 3. 2024-03-25 4. 2024-03-25 |
|
|
f) |
Place of the transaction |
1. London Stock Exchange, XLON 2. London Stock Exchange, XLON 3. Outside a trading venue 4. Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities |
||
|
a) |
Name |
Tracy Garrad |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
CEO of Aviva Canada |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer |
||
|
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
GB00BPQY8M80 |
|
|
b) |
Nature of transaction |
1. Grant of conditional awards over Shares under the Aviva Long Term Incentive Plan. 2. Grant of conditional awards over Shares under the Aviva Annual Bonus Plan. |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
1. Nil 2. Nil |
1. 260,736 2. 17,081 |
|
d) |
Aggregate information |
Price(s) |
Aggregate volume(s) |
|
|
|
1. Nil 2. Nil
|
1. 260,736 2. 17,081 |
|
e) |
Date of the transaction |
2024-03-25 |
|
|
f) |
Place of the transaction |
Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities |
||
|
a) |
Name |
James Hillman |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Group Chief Risk Officer |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer |
||
|
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
GB00BPQY8M80 |
|
|
b) |
Nature of transaction |
1. Grant of conditional awards over Shares under the Aviva Long Term Incentive Plan. 2. Grant of conditional awards over Shares under the Aviva Annual Bonus Plan. 3. Grant of conditional awards over Shares under the Aviva Recruitment and Retention Share Award Plan.
|
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
1. Nil 2. Nil 3. Nil |
1. 214,723 2. 45,807 3. 111,108 |
|
d) |
Aggregate information |
Price(s) |
Aggregate volume(s) |
|
|
|
1. Nil 2. Nil 3. Nil
|
1. 214,723 2. 45,807 3. 111,108 |
|
e) |
Date of the transaction |
2024-03-25 |
|
|
f) |
Place of the transaction |
Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities |
||
|
a) |
Name |
Jason Storah |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
CEO of UK & Ireland General Insurance |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer |
||
|
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
GB00BPQY8M80 |
|
|
b) |
Nature of transaction |
1. Vesting of 286,168 Shares under LTIP, ABP 2021, 2022, 2023. 2. Sale 154,993 Shares. 3. Grant of conditional awards over Shares under the Aviva Long Term Incentive Plan. 4. Grant of conditional awards over Shares under the Aviva Annual Bonus Plan. |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
1. £4.945 2. £4.945 3. Nil 4. Nil |
1. 286,168 2. 154,993 3. 265,848 4. 79,243 |
|
d) |
Aggregate information |
Price(s) |
Aggregate volume(s) |
|
|
|
1. £1,415,100.76 2. £766,440.39 3. Nil 4. Nil |
1. 286,168 2. 154,993 3. 265,848 4. 79,243 |
|
e) |
Date of the transaction |
1. 2024-03-22 2. 2024-03-22 3. 2024-03-25 4. 2024-03-25 |
|
|
f) |
Place of the transaction |
1. London Stock Exchange, XLON 2. London Stock Exchange, XLON 3. Outside a trading venue 4. Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities |
||
|
a) |
Name |
Mark Versey |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
CEO of Aviva Investors |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer |
||
|
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
GB00BPQY8M80 |
|
|
b) |
Nature of transaction |
1. Vesting of 166,268 Shares under LTIP, ABP 2022, 2023. 2. Sale of 166,268 Shares. 3. Grant of conditional awards over Shares under the Aviva Long Term Incentive Plan. |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
|
1. £4.945 2. £4.945 3. Nil |
1. 166,268 2. 166,268 3. 83,333 |
|
d) |
Aggregated information |
Price(s) |
Aggregate volume(s) |
|
|
|
1. £822,195.26 2. £822,195.26
3. Nil |
1. 166,268 2. 166,268
3. 83,333
|
|
e) |
Date of the transaction |
1. 2024-03-22 2. 2024-03-22 3. 2024-03-25 |
|
|
f) |
Place of the transaction |
1. London Stock Exchange, XLON 2. London Stock Exchange, XLON 3. Outside a trading venue |
|
-ends-
Enquiries:
Media:
Andrew Reid +44 (0)7800 694 276
Sarah Swailes +44 (0)7800 694 859
Marion Fischer +44 (0)7800 693 219
Analysts:
Rupert Taylor Rea +44 (0)7385 494 440
Joel von Sternberg +44 (0)7384 231 238
Michael O'Hara +44 (0)7387 234 388
Notes to editors:
· We are the UK's leading diversified insurer and we operate in the UK, Ireland and Canada. We also have international investments in India and China.
· We help our 19.2 million customers make the most out of life, plan for the future, and have the confidence that if things go wrong we'll be there to put it right.
· We have been taking care of people for more than 325 years, in line with our purpose of being 'with you today, for a better tomorrow'. In 2023, we paid £25.6 billion in claims and benefits to our customers.
· In 2021, we announced our ambition to become Net Zero by 2040, the first major insurance company in the world to do so. We are aiming to have Net Zero carbon emissions from Aviva's operations and supply chain by 2030. While we are working towards our sustainability ambitions, we recognise that while we have control over Aviva's operations and influence on our supply chain, when it comes to decarbonising the economy in which we operate and invest, Aviva is one part of a far larger global ecosystem. There are also limits to our ability to influence other organisations and governments. Nevertheless, we remain focused on the task and are committed to playing our part in the collective effort to enable the global transition. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability
· Aviva is a Living Wage, Living Pension and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at www.aviva.com/about-us/our-people
· As at 31 December 2023, total Group assets under management at Aviva Group were £376 billion and our estimated Solvency II shareholder capital surplus was £8.8 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
· For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
· The Aviva newsroom at www.aviva.com/newsroom includes links to our spokespeople images, podcasts, research reports and our news release archive. Sign up to get the latest news from Aviva by email.
· You can follow us on:
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· For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva
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