Director/PDMR Shareholding

RNS Number : 1963P

M&G PLC

16 June 2022

 

M&G plc NEWS RELEASE
16 June 2022

M&G plc

Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMRs')

Awards under the M&G Performance Share Plan 2019 (the 'Performance Share Plan') - 2022 Performance Awards

On 16 June 2022, the Company granted nil-cost options to Kathryn McLeland, Chief Financial Officer, M&G plc and Vanessa Murden, Chief Operating Officer, M&G plc (the 'COO'), under the Performance Share Plan. The options granted in 2022 are subject to the achievement of performance conditions over a three-year period, plus a subsequent holding period of two years, and have been made using the average market share price for the three days preceding the award date of 16 June 2022.

Awards under the M&G Deferred Incentive Plan 2019 (the 'Deferred Incentive Plan')

On 16 June 2022, the Company made a deferred bonus short-term incentive ('STI') award to the COO under the terms of the Deferred Incentive Plan. An award representing a proportion of her annual STI has been deferred into a conditional award over shares which is due to vest in April 2025. The award is based on the average market share price for the three days preceding 1 April 2022, of £2.2310, in line with STI  awards made to PDMRs on 1 April 2022 and announced on that date.

Awards under the M&G Performance Share Plan 2019 (the 'Performance Share Plan') - Recruitment Awards

On 16 June 2022, the Company granted Recruitment Awards in the form of nil-cost options (the 'Recruitment Awards') to the COO as set out in the summary table below, under the terms of the Performance Share Plan. The options replace awards forfeited by her as a result of her recruitment by M&G plc.  The vesting of the award over 241,418 M&G shares is subject to the achievement of performance conditions.  Holding periods that apply after vesting are set out in the table below. The Recruitment Awards have been made using the average market share price for the three days preceding her start date with M&G plc, of £2.1357.

Name	Position	Number of nil-cost options granted under the Performance Share Plan	Recruitment Award	Number of Conditional Awards granted under the Deferred Incentive Plan	Date of Vesting	Holding Period end date
Kathryn McLeland	Chief Financial Officer	643,808	No	-	16/06/2025	16/06/2027
Vanessa Murden	Chief Operating Officer	377,405	No	-	16/06/2025	16/06/2027
Vanessa Murden	Chief Operating Officer	-	No	91,214	01/04/2025	Not applicable
Vanessa Murden	Chief Operating Officer	241,418	Yes	-	05/03/2023	01/04/2025
Vanessa Murden	Chief Operating Officer	65,614	Yes	-	04/03/2024	01/04/2026
Vanessa Murden	Chief Operating Officer	21,871	Yes	-	04/03/2025	01/04/2026
Vanessa Murden	Chief Operating Officer	21,872	Yes	-	04/03/2026	01/04/2027
Vanessa Murden	Chief Operating Officer	15,709	Yes	-	06/03/2023	01/04/2024
Vanessa Murden	Chief Operating Officer	15,709	Yes	-	06/03/2024	01/04/2025
Vanessa Murden	Chief Operating Officer	13,386	Yes	-	06/03/2023	01/04/2024
Vanessa Murden	Chief Operating Officer	49,845	Yes	-	23/06/2022	01/04/2024
Vanessa Murden	Chief Operating Officer	14,158	Yes	-	23/06/2022	03/04/2023
Vanessa Murden	Chief Operating Officer	14,393	Yes	-	23/06/2022	06/09/2022
Vanessa Murden	Chief Operating Officer	2,842	Yes	-	23/06/2022	03/04/2023
Vanessa Murden	Chief Operating Officer	2,841	Yes	-	23/06/2022	Not applicable

The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

Contact

Alan Porter, General Counsel and Company Secretary - 020 8162 4064

Penny Woodcock, Deputy Company Secretary - PLC & Governance - 020 8162 3112

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kathryn McLeland
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	M&G plc
b)	LEI	254900TWUJUQ44TQJY84
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 5 pence each GB00BKFB1C65
b)	Nature of the transaction	Award granted under the Performance Share Plan due to vest in June 2025 subject to the achievement of performance conditions.
c)	Price(s) and volume(s)	Price (s) Volume (s) £2.0270 643,808
	Aggregated information -Aggregated volume -Price	643,808 £2.0270
	Date of the transaction	2022-06-16
	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Vanessa Murden
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	M&G plc
b)	LEI	254900TWUJUQ44TQJY84
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 5 pence each GB00BKFB1C65
b)	Nature of the transaction	a.  Award granted under the Deferred Incentive Plan to be released in April 2025 b.  Award granted under the Performance Share Plan due to vest in June 2025 subject to the achievement of performance conditions  c.  Recruitment Awards granted under the Performance Share Plan subject to the achievement of performance conditions  d.  Recruitment Awards granted under the Performance Share Plan with no performance conditions
c)	Price(s) and volume(s)	Item Price (s) Volume (s) a. £2.2310 91,214 b. £2.0270 377,405 c. £2.1357 241,418 d. £2.1357 238,240
	Aggregated information -Aggregated volume -Price	948,277 £2.1016
	Date of the transaction	2022-06-16
	Place of the transaction	Outside a trading venue

LEI: 254900TWUJUQ44TQJY84

Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.

 

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