Director/PDMR Shareholding

Direct Line Insurance Group PLC

09 April 2024

 

Direct Line Insurance Group PLC

09 April 2024

DIRECT LINE INSURANCE GROUP PLC ("DLG")

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

9 April 2024

Following the appointment of Adam Winslow as Chief Executive Officer on 1 March 2024, a Restricted Share Award pursuant to Listing Rule 9.4.2 ("RSA") has been made to Mr Winslow over ordinary shares of 10 ¹⁰/₁₁ pence each in DLG. All remuneration arrangements are consistent with the terms of the Directors' Remuneration Policy approved by shareholders at the AGM in May 2023.

RSP Awards

The Remuneration Committee made the following awards to Mr Winslow to compensate him for remuneration arrangements forfeited on leaving Aviva. Performance conditions do not apply to these awards.

Scheme Replaced	Number of options awarded	Normal Vesting Date
a) Deferred Bonus 2021	84,953 84,953	8/4/2024 21/3/2025
b) Deferred Bonus 2022	83,726 83,726 83,727	8/4/2024 21/3/2025 20/3/2026
c) Deferred Bonus 2023	84,945 84,945 84,945	28/3/2025 27/3/2026 25/3/2027

Scheme Replaced	Number of options awarded	Normal Vesting Date
a) 2021 LTIP	796,940	8/4/2024
b) 2022 LTIP	629,816	21/3/2025
c) 2023 LTIP	692,721	20/3/2026

All RSP awards will accrue dividend equivalent shares until vesting.

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	Adam Winslow
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	Nil cost option restricted share award pursuant to Listing Rule 9.4.2 ("RSA"). Performance conditions do not apply to these awards.
c)	Price(s) and volume(s)	Price Volume Nil cost options 2,795,397
d)	Aggregated information - Aggregated volume - Price	N/A   Single transaction
e)	Date of the transaction	5 April 2024
f)	Place of the transaction	Off market

For any enquiries relating to this announcement, please contact: 

Roger Clifton

Company Secretary

Email:  [e-mail]   

LEI: 213800FF2R23ALJQOP04

 

END