Director/PDMR Shareholding

RNS Number : 1609N

Aviva PLC

04 August 2017

 

4 August 2017

AVIVA PLC ("Aviva")

NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")

Aviva announces that:

The Aviva Chief Financial Officer Award 2014 (CFO Award)

·      As announced on 24 March 2015, consistent with the terms of his employment agreement, Mr Stoddard received a CFO Award to partially compensate him for deferred compensation he forfeited on resignation from his previous employer.  The CFO Award has vested in stages.  The first tranche in 2015, the second tranche in 2016 and a final tranche in 2017. 

·      Accordingly on 3 August 2017 the final tranche of the CFO Award vested and Mr  Stoddard received the following Aviva ordinary shares of 25 pence each (Shares):

Name	Award	Price at which Shares granted (pence)	Shares received from award	No. of Shares sold to cover taxes and costs	No. of Shares retained net of taxes and costs	Price at which Shares sold (pence)
Tom Stoddard	CFO Award	509p	113,060	53,325	59,735	536p

·      These Shares vested in accordance with the rules of the CFO Award:

o  The CFO Award was made for nil consideration. 

o  The CFO Award was granted at a price of £5.09 per share, which was based on the average share price of an Aviva ordinary share 3 days prior to Mr Stoddard joining the Company.  

o  The releases under the CFO Award include additional Shares received in lieu of dividends, which are subject to tax.

·      The awards have been settled on a net-of-tax basis.

The Notification of Dealing Form can be found below.  This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

Media Enquiries:

Andrew Reid                                                                  [phone]

General Enquiries:

Elena Petrou, Company Secretarial                                 [phone]

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	THOMAS STODDARD
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	AVIVA PLC
b)	LEI	YF0Y5B0IB8SM0ZFG9G81
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	-     SHARES -     GB0002162385
b)	Nature of transaction	Vesting of final tranche of CFO Award of 113,060 shares. 53,325 shares sold to cover tax leaving balance of 59,735 shares retained
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.       Nil consideration 2.       £5.36	113,060 53,325
d)	Aggregated information -     Aggregated volume -     Price	1.       £0.00 per share Total price £0.00 2.      £5.36 per share Total price £285,822		113,060 53,325
e)	Date of the transaction	3 August 2017
f)	Place of the transaction	London Stock Exchange, XLON

 

END

 

 

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