Director/PDMR Shareholding

RNS Number : 6301U

Legal & General Group Plc

16 May 2008

 



Legal & General Group Plc Directors' & Senior Managers' Share Interests

Legal & General Group Plc ('the Company') today announces the following awards and releases under its Share Bonus Plan (SBP) and Performance Share Plan (PSP).

1.    Legal & General Group Share Bonus Plan - Award

The table below details shares that were allocated under SBP to Executive Directors of the Company on 29 April 2008 and approved at a meeting of the Employee Share Ownership Trust Committee (the ESOT) on 13 May 2008. The award price was 127.2p per share.  These shares will normally be held in trust for three years before vesting.

Name	Number of Shares
C R R Avery	64,465
T J Breedon	179,245
A W Palmer	96,698
J B Pollock	66,037

The following Senior Managers, being persons discharging managerial responsibility ('PDMRs') within the Company, were also awarded shares under the SBP.

Name	Number of Shares
M J Bolton	31,446
C A Davies	17,688
M J Gregory	31,446
G J Hoskin	29,874

2.    Legal & General Group Share Bonus Plan - Release

On 13 May 2008, the ESOT approved the release of shares, originally awarded under the SBP on 7 April 2005, to Executive Directors of the Company. The release price set in accordance with tax legislation was 133.95p per share.

Details of the shares acquired and disposed, e.g. for income tax and National Insurance purposes, by the Executive Directors are set out in the table below:

Name	Number of Shares Acquired	Number of Shares Disposed
C R R Avery	69,180	28,364
T J Breedon	113,525	46,546
A W Palmer	93,126	38,182
J B Pollock	45,233	18,546

Details of the shares acquired and disposed of by PDMRs, e.g. to cover income tax and National Insurance liabilities, are set out in the table below:

Name	Number of Shares Acquired	Number of Shares Disposed
M J Bolton	13,304	13,304
M J Gregory	31,929	13,091
G J Hoskin	45,233	45,233

3.    Legal & General Group Performance Share Plan - Award

The table below details conditional shares that were allocated under PSP to Executive Directors of the Company on 29 April 2008 and approved at a meeting of the ESOT on 13 May 2008.  The number of shares that may be released is dependent on the Company's Total Shareholder Return (TSR), measured over a three-year period, being ranked at or above median when compared with the relevant comparator group.

Name	No. of conditional shares under PSP
C R R Avery	151,336
T J Breedon	302,672
A W Palmer	180,817
J B Pollock	145,440

The following PDMRs were also awarded conditional shares under the PSP.

Name	No. of conditional shares under PSP
M J Bolton	50,943
C A Davies	38,207
M J Gregory	68,553
G J Hoskin	84,591

4.    Legal & General Group Performance Share Plan - Release

Over the period from 7 April 2005 to 6 April 2008, the Company's TSR was ranked 49th in the FTSE 100. Under the terms of the PSP, a multiple of 1.1 was applied to the conditional shares that were awarded on 7 April 2005 and vested on 7 April 2008.

On 13 May 2008, the ESOT approved the release of a total of 583,411 shares under the PSP to Executive Directors of the Company. The price set in accordance with tax legislation was 133.95p per share.  Details of the shares acquired and disposed of by the Executive Directors, e.g. to cover income tax and National Insurance liabilities, are set out in the table below:

Name	Number of Shares Acquired	Number of Shares Disposed
C R R Avery	131,707	54,000
T J Breedon	174,633	71,600
A W Palmer	174,633	71,600
J B Pollock	102,438	42,000

Details of the shares acquired and disposed of by PDMRs eg to cover income tax and National Insurance liabilities,are set out in the table below:

Name	Number of Shares Acquired	Number of Shares Disposed
M J Bolton	39,024	39,024
M J Gregory	78,048	32,000
G J Hoskin	107,317	107,317

Following these awards and releases, the Executive Directors have beneficial interests in the shares of the Company (comprising shares, shares held by trustees of share schemes or plans and share options) as set out below:-

Name	Shares	Shares in schemes or plans	Options	Total beneficial interests
C R R Avery	829,192	208,202	282,572	1,319,966
T J Breedon	1,450,794	472,102	87,880	2,010,776
A W Palmer	281,807	286,962	782,829	1,351,598
J B Pollock	414,658	193,645	17,583	625,886

 

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