Director/PDMR Shareholding

RNS Number : 2921P

Direct Line Insurance Group PLC

30 August 2017

 

DIRECT LINE INSURANCE GROUP PLC ("DLG")

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")

30 AUGUST 2017

In accordance with DLG's remuneration policy, awards under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP") have been granted to PDMRs over ordinary shares of 10 ¹⁰/₁₁ pence each in DLG.

The level of vesting of an award will depend upon two performance measures: Return on Tangible Equity ("RoTE") and Total Shareholder Return. The level of RoTE required for awards made from March 2017 onwards to vest was increased from a range of 14.5% to 17.5% to a range of 15.0% to 18.0%. Due to the uncertainty in connection with the Ogden Discount Rate review, at the time of publication of the 2016 Annual Report and Accounts, DLG confirmed that its Remuneration Committee would further consider the RoTE target to be applied to awards made in August 2017. We can confirm that the target range of 15.0% to 18.0% remains the same for these awards. Dividend equivalent options will accrue up to the point of vesting, on those options that vest. 

For further information on DLG's remuneration policy please see our 2016 Directors' Remuneration Report which is available at:  www.directlinegroup.com.

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul Geddes
2	Reason for the notification
a)	Position/status	Chief Executive Officer / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of five year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 210,298
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jonathan Greenwood
2	Reason for the notification
a)	Position/status	Managing Director, Commercial / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 74,922
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mike Holliday-Williams
2	Reason for the notification
a)	Position/status	Managing Director, Personal Lines / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of five year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 142,413
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Linares
2	Reason for the notification
a)	Position/status	Human Resources Director / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 73,244
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steve Maddock
2	Reason for the notification
a)	Position/status	Chief Operating Officer / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 94,382
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Reizenstein
2	Reason for the notification
a)	Position/status	Chief Financial Officer / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of five year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 127,275
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Humphrey Tomlinson
2	Reason for the notification
a)	Position/status	General Counsel / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 44,462
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jose Vazquez
2	Reason for the notification
a)	Position/status	Chief Risk Officer / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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	Ordinary shares of 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")
c)	Price(s) and volume(s)	Price Volume Nil cost options 80,450
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	29 August 2017
f)	Place of the transaction	The London Stock Exchange (XLON)

For any enquiries relating to this announcement, please contact: 

Simon Watson

Deputy Company Secretary

Telephone: [phone]

 

END

 

 

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