Director/PDMR Shareholding

Direct Line Insurance Group PLC

14 November 2024

 

DIRECT LINE INSURANCE GROUP PLC ("DLG")

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

14 NOVEMBER 2024

Following the appointment of Jane Poole as Chief Financial Officer on 10 October 2024, a Restricted Share Award ("RSP") has been made to Ms Poole over ordinary shares of 10 ¹⁰/₁₁ pence each in DLG, to compensate her for remuneration arrangements forfeited on leaving her former employer. Performance conditions do not apply to the RSP awards.

In addition, and in accordance with DLG's remuneration policy, an award has been made to Ms Poole under the DLG 2020 Long Term Incentive Plan (the "LTIP") over ordinary shares of 10 ¹⁰/₁₁ pence each in DLG. The number of shares awarded under the LTIP is based on the average closing share price over the three trading days prior to the date of grant, equal to £1.65.

RSP Awards

The Remuneration Committee has approved the following awards to Ms Poole to compensate her 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 2022	30,444	21/3/2025
b)   Deferred bonus 2023	44,903 44,906	21/3/2025 20/3/2026
c)   Deferred bonus 2024	41,332 41,332 41,334	28/3/2025 27/3/2026 25/3/2027
d)   LTIP 2022	150,149	21/3/2025
e)   LTIP 2022	25,044	11/8/2025
f)    LTIP 2023	136,128	20/3/2026
g)   One-off award 2024	76,468 76,468	22/9/2025 22/9/2026

All RSP awards will accrue dividend equivalent shares until vesting.

The following disclosure 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 / person closely associated
a)	Name	Jane Poole
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	(i)         Award of three years' nil cost options under the Direct Line Insurance Group plc 2020 Long Term Incentive Plan. The award represents the regular 2024 award, has a total face value of 200% of annual base salary and is subject to the same performance conditions as awards made to DLG's PDMRs earlier in the year (except that Total Shareholder Return will be measured over the three years commencing on the date of grant); and (ii)        Award of nil cost options under the Restricted Share Plan.
c)	Price(s) and volume(s)	Price Volume (i) Nil cost options 668,693 (ii) Nil cost options 708,508
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	11 November 2024
f)	Place of the transaction	Off market

Following the appointment of Martin Milliner as Managing Director, Claims on 1 October 2024, awards have been made to Martin under the DLG RSP to compensate him for remuneration arrangements forfeited on leaving his former employer. Performance conditions do not apply to these awards.

The following disclosure 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 / person closely associated
a)	Name	Martin Milliner
2	Reason for the notification
a)	Position/status	Managing Director, Claims / 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 nil cost options under the Restricted Share Plan. The award vests in one tranche.
c)	Price(s) and volume(s)	Price Volume Nil cost options 73,778
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	11 November 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