Director/PDMR Shareholding

RNS Number : 9227S

Legal & General Group Plc

19 March 2021

 

Legal & general group plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

The following notification made under articles 19.1 and 19.3 of the Market Abuse Regulation ("MAR") relates to:

· the exercise of an award granted on 21 April 2016 under the terms of the Legal & General Group Performance Share Plan 2016 (PSP 2016); and

·   the exercise of an award granted on 18 April 2017 under the terms of the Legal & General Group Performance Share Plan 2017 (PSP 2017).

The performance conditions attached to the PSP 2016 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the results for 2018 with one third of vested options becoming exercisable immediately, the second third becoming exercisable after the announcement of the 2019 results and the remaining third after the announcement of the 2020 results. PSP 2016 options must be exercised by the seventh anniversary of the date of grant.

The performance conditions attached to the PSP 2017 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the results for 2019 with one third of vested options becoming exercisable immediately, the second third becoming exercisable after the announcement of the 2020 results and the remaining third after the announcement of the 2021 results. PSP 2017 options must be exercised by the seventh anniversary of the date of the grant.

Name	Director/ PDMR	Number of shares awarded on 21 April 2016	Number of shares awarded on 18 April 2017	Number of shares exercised on 18 March 2021	Shares sold to cover tax and social security	Shares retained by individual
Simon Gadd	PDMR	38,988	65,484	104,472	104,472	-

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Simon Gadd
2	Reason for the notification
a)	Position/status	Group Chief Risk 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	Legal & General Group Plc
b)	LEI	213800JH9QQWHLO99821
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 £0.025 each, with voting rights attached GB0005603997
b)	Nature of transaction	1.  Exercise of PSP 2016 award of nil cost options over 38,988 shares and exercise of PSP 2017 award of nil cost options over 65,484 shares. 2.  Sale of 104,472 shares to cover tax and dealing costs (nil shares retained).
c)	Price(s) and volume(s)	Price(s)	Volume
		1.  Nil cost	1.  104,472
		2.  £2.870	2.  104,472
d)	Aggregated information -  Aggregated volume -  Price	1.  Price	1.  Volume	1.  Total
		1.  £0.00	1.  104,472	1.  £0.00
		2.  Price	2.  Volume	2.  Total
		2.  £2.870	2.  104,472	2.  £299,834.64
e)	Date of the transaction	18 March 2021
f)	Place of the transaction	London Stock Exchange, XLON

19 March 2021

Leanne Cornish

Senior Assistant Company Secretary

Legal & General Group Plc

Tel: [phone]

 

END

 

 

DSHQKLFFFXLXBBL