Director/PDMR Shareholding

RNS Number : 9347S

Prudential PLC

14 March 2019

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Falcon
2	Reason for the notification
a)	Position/status	Executive Director (PDMR)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prudential plc
b)	LEI	5493001Z3ZE83NGK8Y12
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	American Depository Receipt ("ADR") 74435K204
b)	Nature of the transaction	Grant of ADR options In line with the announcement made on 12 October 2018, Prudential plc entered into an agreement on 14 March 2019 with Michael Falcon to replace unvested awards forfeited as a consequence of joining Prudential plc on 1 January 2019. Under the agreement Mr Falcon has been granted an option entitling him to receive a cash amount equal to the market value of a specified notional number of Prudential ADRs on the date of exercise, less an option price of 12.642 cents (being the US $ equivalent of 10 pence per ADR on 19 December 2018, the last day of Mr Falcon's JP Morgan Asset Management employment). The option will vest on the dates detailed below:  Exercise Period Number of notional Prudential PLC ADRs 25 October 2019 to 24 November 2019 11,224 30 days commencing on the date of release of Prudential plc's Full Year Results for 2019 30,938       30 days commencing on the date of release of Prudential plc's Full Year results for 2020 14,380 This replacement award has been made on a like-for-like basis, with the option exercisable in accordance with the original vesting timeframe which attached to the forfeited awards. This arrangement has been put in place in accordance with Listing Rule 9.4.2, which allows an individual scheme to be put in place to assist with the recruitment of an executive director, and is consistent with Prudential plc's Directors' Remuneration Policy.
c)	Price(s) and volume(s)	Price(s) Volume(s) USD 0.12642    56,542
d)	Aggregated information - Aggregated volume - Price	56,542 USD 0.12642
e)	Date of the transaction	2019-03-14
f)	Place of the transaction	New York Stock Exchange

Additional information

Prudential plc is not affiliated in any manner with Prudential Financial Inc., a company whose principal place of business is in the United States of America.

Contact

Chris Smith, Deputy Group Secretary, [phone]

Jennie Webb, Share Plans Manager, [phone]

 

END

 

 

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