Director/PDMR Shareholding

RNS Number : 0231V

Direct Line Insurance Group PLC

03 April 2019

 

DIRECT LINE INSURANCE GROUP PLC ("DLG")

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")

3 APRIL 2019

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

All Executive Directors and other PDMRs meet their DLG Share Ownership Guidelines holding requirement immediately after the transactions in this announcement.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Penny James
2	Reason for the notification
a)	Position/status	​​​​​​​​Chief Financial Officer and CEO-designate / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	(i)         Vesting of Buy-out award. The award vested at 97.335% after the application of performance criteria.  The number of Shares vesting includes additional dividend shares in accordance with the rules of the buyout award. (ii)         Acquisition of vested Shares; and (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs.
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii)  Nil 705,872 (iii) £3.54155 332,593
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) & (ii) & (iii) 1 April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul Geddes
2	Reason for the notification
a)	Position/status	Chief Executive 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	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP; (ii)         Acquisition of vested Shares; (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and (iv)        Sale of remaining balance of Shares.
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii) Nil 292,672 (iii) £3.6002 137,555 (iv) £3.6002 155,117
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) 29 March 2019 (ii) 1 April 2019 (iii) & (iv) 2 April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul Geddes
2	Reason for the notification
a)	Position/status	Chief Executive 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	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Sale of Shares
c)	Price(s) and volume(s)	Price (s) Volume (s) £3.53 239,883
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	1 April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mike Holliday-Williams
2	Reason for the notification
a)	Position/status	Managing Director, Personal Lines / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP; (ii)         Acquisition of vested Shares; (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and (iv)        Sale of remaining Shares from remaining balance.
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii)  Nil 162,519 (iii) 3.6002 76,383 (iv) 3.6002 86,136
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) 29 March 2019 (ii) 1 April 2019 (iii) & (iv) 2 April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mike Holliday-Williams
2	Reason for the notification
a)	Position/status	Managing Director, Personal Lines / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Sale of Shares
c)	Price(s) and volume(s)	Price (s) Volume (s) £3.54504 22,000
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	1 April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jonathan Greenwood
2	Reason for the notification
a)	Position/status	Managing Director, Commercial / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP; (ii)         Acquisition of vested Shares; (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and (iv)        Sale of remaining balance of Shares.
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii) Nil 90,194 (iii) £3.54155 42,391 (iv) £3.54155 47,803
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) 29 March 2019 (ii), (iii) & (iv) 1 April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Linares
2	Reason for the notification
a)	Position/status	​​​​​​​​​​​​​​​Human Resources Director/ PDMR
b)	Initial notification /Amendment	(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP; (ii)         Acquisition of vested Shares; and (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs.
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Sale of Shares
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii)  Nil 111,411 (iii) £3.54155 52,498
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) 29 March 2019 (ii) & (iii) 1 April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steve Maddock
2	Reason for the notification
a)	Position/status	Chief Operating 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	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP; (ii)         Acquisition of vested Shares; (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and (iv)        Sale of remaining balance of Shares.
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii)  Nil 126,925 (iii) £3.54155 59,654 (iv) £3.54155 67,271
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) 29 March 2019 (ii) & (iii) & (iv) 1April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Humphrey Tomlinson
2	Reason for the notification
a)	Position/status	General Counsel / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP; (ii)         Acquisition of vested Shares; (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and (iv)        Sale of remaining balance of Shares.
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii) Nil 60,359 (iii) £3.54155 28,368 (iv) £3.54155 31,991
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) 29 March 2019 (ii), (iii) & (iv) 1April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jose Vazquez
2	Reason for the notification
a)	Position/status	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	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	(i)         Vesting of Shares granted in March 2016 (as nil cost options) under the DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred Annual Incentive Plan (the "DAIP"). The LTIP vested at 60% after the application of performance criteria. The number of Shares vesting includes additional dividend equivalent Shares, in accordance with the rules of the LTIP and DAIP; (ii)         Acquisition of vested Shares; (iii)        Sale of Shares to cover the costs of exercise including tax and dealing costs; and (iv)        Sale of remaining balance of Shares.
c)	Price(s) and volume(s)	Price (s) Volume (s) (i) & (ii)  Nil 114,088 (iii) £3.54155 53,621 (iv) £3.54155 60,467
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	(i) 29 March 2019 (ii) & (iii) & (iv) 1April 2019
f)	Place of the transaction	The London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mike Holliday-Williams
2	Reason for the notification
a)	Position/status	Managing Director, Personal Lines / PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Direct Line Insurance Group plc
b)	LEI	213800FF2R23ALJQOP04
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 10 10/11 pence ("Shares") GB00BY9D0Y18
b)	Nature of the transaction	Transfer of Shares to Spouse (Kirstie Holliday-Williams)
c)	Price(s) and volume(s)	Price (s) Volume (s) Nil 190,790
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	2 April 2019
f)	Place of the transaction	London

For any enquiries relating to this announcement, please contact: 

Simon Watson

Deputy Company Secretary

Telephone: [phone]

 

END

 

 

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