Director/PDMR Shareholding

RNS Number : 0602J

Aviva PLC

27 March 2018

 

27 March 2018

AVIVA PLC ("Aviva")

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

Aviva announces that:

Aviva Annual Bonus Plan 2011 (ABP) and the Aviva Long Term Incentive Plan 2011 (LTIP)

·      On 23 March 2018, in London, and in line with the normal timetable, the following PDMRs received Aviva ordinary shares of 25 pence each (Shares) following the vesting of awards granted in 2015 under the ABP and the LTIP (the Plans) as previously announced. Disposals have also been made, including to cover the cost of taxes and sales fees, as set out below.

·      The LTIP award vested at 36.9% following testing of Return on Equity (ROE) and Total Shareholder Return (TSR) performance factors, over a three year period (1 January 2015 to 31 December 2017).

Name		ABP or LTIP	Price at which shares granted (pence)	Shares received from ABP or LTIP awards	No. of shares sold to cover taxes and costs	Other disposal of shares	No. of shares retained net of taxes and costs	No. of shares subject to a two year holding period	Price at which shares sold (pence)
Mark Wilson		ABP LTIP	564p 564p	170,076 217,239	80,361 102,358	89,715 0	0 114,881	0 114,881	494p 494p
Nitinbhai Amin		ABP LTIP	564p 564p	51,288 75,700	24,166 35,668	0 0	27,122 40,032	0 0	494p 494p
Andy Briggs		LTIP	564p	115,027	54,198	0	60,829	60,829	494p
Kirstine Cooper		ABP LTIP	564p 564p	43,082 60,560	20,299 28,534	0 0	22,783 32,026	0 0	494p 494p
Angela Darlington		ABP LTIP	564p 564p	13,339 30,279	6,285 14,267	0 0	7,054 16,012	0 0	494p 494p
Euan Munro		ABP LTIP	564p 564p	131,298 90,840	61,864 42,802	0	69,434 48,038	0 0	494p 494p
Tom Stoddard		ABP LTIP	564p 564p	70,279 112,220	33,114 52,876	0 0	37,165 59,344	0 59,344	494p 494p
Maurice Tulloch		ABP LTIP	564p 564p	50,262 90,840	27,034 48,753	23,228 0	0 42,087	0 0	494p 494p
Chris Wei		ABP LTIP	564p 564p	73,449 121,963	8,277 13,745	0 0	65,172 108,218	0 0	494p 494p

·      In line with 2015 Remuneration Policy, 2015 LTIP awards granted to our Executive Directors: Mark Wilson, Andrew Briggs, and Tom Stoddard are subject to a further two year holding period following the sale to cover taxes. As Maurice Tulloch was not an Executive Director at the time of grant, his 2015 LTIP award is not subject to the two year holding period.

·      Following this transaction, Mark Wilson maintains a shareholding equivalent of 345% of his salary, using the share price at release of £4.94, with a current total shareholding of 722,310. Shareholding requirement for Mark is 300%. The other PDMRs selling have also met their shareholding requirement.

·      As disclosed in the Aviva Annual Report, published on 27 March 2018, these shares vested in accordance with the rules of the Plans and following performance testing of the LTIP award. The ABP awards that vested represented the deferral of two thirds, and in the case of Maurice, half of the bonus awarded in 2015. The grant of awards under the LTIP was for nil consideration. 

·      The awards under the ABP and LTIP were granted at a price of £5.64 per share which was based on the average share price of an Aviva ordinary share for 3 days prior to the date of the main grant, 23 March 2018.

·      The releases under the ABP and LTIP include additional Shares received in lieu of dividends, which are subject to tax.

This announcement is made pursuant to Article 19 of the EU Market Abuse Regulation 596/2014. Aviva was notified of the above transactions on 23 March 2018.

Media Enquiries:

Andrew Reid                                                         [phone]

Sarah Swailes                                                               [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	MARK WILSON
2	Reason for the notification
a)	Position/status	GROUP CHIEF EXECUTIVE 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 170,076 ABP 2015 SHARES AND 217,239 LTIP 2015 SHARES. 182,719 SHARES SOLD TO COVER TAX AND DISPOSAL OF 89,715 SHARES LEAVING BALANCE OF 114,881 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.  £4.94 2.  £4.94	1.   387,315 2.   272,434
d)	Aggregated information -     Aggregated volume -     Price	1. £1,913,336.10 2. £1,345,823.96	1.   387,315 2.   272,434
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	NITINBHAI AMIN
2	Reason for the notification
a)	Position/status	GROUP CHIEF OPERATIONS AND IT 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 51,288 ABP 2015 SHARES AND 75,700 LTIP 2015 SHARES. 59,834 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 67,154 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94	1.   126,988 2.   59,834
d)	Aggregated information -     Aggregated volume -     Price	1. £627,322.67 2. £295,579.96	1.   126,988 2.   59,834
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	ANDREW BRIGGS
2	Reason for the notification
a)	Position/status	CHIEF EXECUTIVE OFFICER UK INSURANCE
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 115,027 LTIP 2015 SHARES. 54,198 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 60,829 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94	1.   115,027 2.   54,198
d)	Aggregated information -     Aggregated volume -     Price	1. £568,233.38 2. £267,738.12	1.    115,027 2.   54,198
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	KIRSTINE COOPER
2	Reason for the notification
a)	Position/status	GROUP GENERAL COUNSEL AND COMPANY SECRETARY
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 43,082 ABP 2015 SHARES AND 60,560 LTIP 2015 SHARES. 48,833 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 54,809 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94	1.   103,642 2.   48,833
d)	Aggregated information -     Aggregated volume -     Price	1. £511,991.48 2. £241,235.02	1.    103,642 2.   48,833
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	ANGELA DARLINGTON
2	Reason for the notification
a)	Position/status	GROUP CHIEF RISK 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 13,339 ABP 2015 SHARES AND 30,279 LTIP 2015 SHARES. 20,552 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 23,066 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94	1.   43,618 2.   20,552
d)	Aggregated information -     Aggregated volume -     Price	1. £215,472.92 2. £101,526.88	1.    43,618 2.   20,552
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	EUAN MUNRO
2	Reason for the notification
a)	Position/status	CHIEF EXECUTIVE OFFICER, AVIVA INVESTORS
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 131,298 ABP 2015 SHARES AND 90,840 LTIP 2015 SHARES. 104,666 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 117,472 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94	1.   222,138 2.   104,666
d)	Aggregated information -     Aggregated volume -     Price	1. £1,097,361.72 2. £517,050.04	1.    222,138 2.   104,666
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

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 70,279 ABP 2015 SHARES AND 112,220 LTIP 2015 SHARES. 85,990 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 96,509 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94	1.   182,499 2.   85,990
d)	Aggregated information -     Aggregated volume -     Price	1. £901,545.06 2. £424,790.60	1.      182,499 2.   85,990
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	MAURICE TULLOCH
2	Reason for the notification
a)	Position/status	CHIEF EXECUTIVE OFFICER, INTERNATIONAL INSURANCE
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 50,262 ABP 2015 SHARES SHARES 90,840 LTIP 2015 SHARES. 75,787 SHARES SOLD TO COVER TAX AND DISPOSAL OF 23,228 LEAVING BALANCE OF 42,087 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94	1.   141,102 2.   99,015
d)	Aggregated information -     Aggregated volume -     Price	1. £697,043.88 2. £489,134.10	1.   141,102 2.  99,015
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	CHRIS WEI
2	Reason for the notification
a)	Position/status	EXECUTIVE CHAIRMAN OF ASIA AND FPI AND GLOBAL CHAIRMAN AVIVA DIGITAL
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 73,449 ABP 2015 SHARES AND 121,963 LTIP 2015 SHARES. 22,022 SHARES SOLD TO COVER TAX LEAVING BALANCE OF 173,390 SHARES RETAINED.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.   £4.94 2.   £4.94		1.   195,412 2.   22,022
d)	Aggregated information -     Aggregated volume -     Price	1. £965,335.28 2. £108,788.68		1.   195,412 2.  22,022
e)	Date of the transaction	2018-03-23
f)	Place of the transaction	LONDON STOCK EXCHANGE, XLON

 

END

 

 

DSHKDLBLVXFFBBZ