Director/PDMR Shareholding

RNS Number : 8445L

Hiscox Ltd

17 May 2022

 

Hiscox Ltd

(the 'Company')

Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMR')

Hamilton, Bermuda (17 May 2022) - Following Paul Cooper's appointment as Group Chief Financial Officer taking affect, awards ("Awards") were granted on 16 May 2022 to Mr Cooper under the terms of the Company's Performance Share Plan ("Performance Share Plan") to acquire ordinary 6.5p shares ("Shares") in the capital of the Company.

Mr. Cooper received an Award over 141,646 Shares, subject to the achievement of performance conditions measured over the three financial years from 1 January 2022 to 31 December 2024. The performance conditions are aligned with those which apply to the executive director awards granted on 8 April 2022.  Subject to the satisfaction of the performance conditions, the Award will vest on the third anniversary of grant, and the shares acquired are subject to a further two year holding period.

In addition, Mr Cooper received a "buy-out" award over 167,036 Shares to compensate him for the loss of awards that he had in place with his previous employer.  This award is not subject to performance conditions and will vest in tranches on the dates, and over the number of shares, detailed below.  Vesting is subject to Mr Cooper's continued employment.  No additional holding provisions apply to the shares once acquired.

Vesting Date   Number of Shares

19 September 2022  26,274

3 April 2023  86,780

1 April 2024  42,945

1 April 2025  11,037

The notifications set out below are made in accordance with the UK version of the EU Market Abuse Regulation (2014/596/EU) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

Marc Wetherhill

Company Secretary

Hiscox Ltd

+ 1 441 278 8300

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul Cooper
2	Reason for the notification
a)	Position/status	PDMR - Chief Financial Officer, Hiscox Group
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hiscox Ltd
b)	LEI	5493007JXOLJ0QCY2D70
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 6.5p each ISIN: BMG4593F1389
b)	Nature of the transaction	Grant of performance-based award over shares under the Company's Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 141,646
d)	Aggregated information - Aggregated volume - Price	Aggregated Volume Aggregated Price Total Price 141,646 nil nil
e)	Date of the transaction	2022-05-16
f)	Place of the transaction	Outside a trading venue
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 6.5p each ISIN: BMG4593F1389
b)	Nature of the transaction	Grant of buy-out award over shares under the Company's Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 167,036
d)	Aggregated information - Aggregated volume - Price	Aggregated Volume Aggregated Price Total Price 167,036 nil nil
e)	Date of the transaction	2022-05-16
f)	Place of the transaction	Outside a trading venue

 

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