Director/PDMR Shareholding

RNS Number : 9761H

Direct Line Insurance Group PLC

29 November 2022

 

DIRECT LINE INSURANCE GROUP PLC ("DLG")

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated with them

On 28 November 2022, Penny James exercised nil cost options granted to her under the DLG Long Term Incentive Plan on 28 November 2017. As reported in the Company's 2020 Annual Report and Accounts, these options vested on 28 November 2020 and were subject to performance criteria measured over a three-year period from 28 November 2017 to 28 November 2020. The options were then subject to a two-year holding period following the end of the performance period which came to an end on 28 November 2022.

In order to settle the income tax, national insurance liability and dealing charges, Penny James sold 218,040 shares, retaining the balance of 244,713 shares.

The notification below is provided in accordance with the requirements of the UK Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Penny James
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	(i)  Acquisition of nil cost options under the Direct Line Insurance Group plc Long Term Incentive Plan which vested on the third anniversary of the award and was subject to an additional two-year post-vesting holding period. (ii)  Sale of Shares to cover the costs of exercise including tax and dealing costs.
c)	Price(s) and volume(s)	Price(s) Volume(s) (i) nil 462,753 (ii) £2.22 218,040
d)	Aggregated information - Aggregated volume - Aggregated price	Not applicable
e)	Date of the transaction	28 November 2022
f)	Place of the transaction	The London Stock Exchange (XLON)

For any enquiries relating to this announcement, please contact:

Roger Clifton

Company Secretary

Email:  [e-mail]  

LEI: 213800FF2R23ALJQOP04

 

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