Director/PDMR Shareholding

Virgin Money UK PLC

11 December 2023

 

VIRGIN MONEY UK PLC

(Company)

LEI: 213800ZK9VGCYYR6O495

11 December 2023

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBLITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

GRANTS UNDER THE LONG-TERM INCENTIVE PLAN (LTIP) AND THE DEFERRED EQUITY PLAN (DEP)

The Company announces that on 8 December 2023 the following Directors and PDMRs were granted the awards noted below under the Company's LTIP and DEP.

The number of rights awarded was based on the middle market share price the day prior to grant being £1.4890, discounted for deferred awards to reflect the absence of dividend equivalents during the deferral period.

The 2023 LTIP share awards in the form of rights to acquire Ordinary Shares of £0.10 each in the Company, subject to a three-year performance period with vesting between the third and seventh anniversary of the award, on a pro-rata basis. For Syreeta Brown and James Peirson's awards the shares will vest between the third and fifth anniversary of the award, on a pro-rata basis.

The 2023 DEP upfront share bonus awards in the form of rights to acquire Ordinary Shares of £0.10 each in the Company will vest immediately and be subject to a 12 month holding period in line with the requirements of the PRA Remuneration Code.

Summary of Awards

Executive Directors	Number of shares awarded under the 2023 LTIP	Number of shares awarded under the 2023 DEP
David Duffy	1,666,520	111,035
Clifford Abrahams	980,300	65,315

PDMRs	Number of shares awarded under the 2023 LTIP	Number of shares awarded under the 2023 DEP
Syreeta Brown	465,210	41,699
Allegra Patrizi	1,004,300	-
James Peirson	409,908	39,652
Susan Poot	550,520	54,022
Sarah Wilkinson	886,150	61,739

VESTINGS UNDER THE DEP AND LTIP

On 8 December 2023 the following Directors and PDMRs received ordinary shares in the Company and a portion of the shares received were automatically sold to cover their respective tax liabilities and sale costs.  The sale of shares to cover tax liabilities is a standard procedure executed by the Company for all employees to cover the statutory tax and national insurance obligations that it is required to meet in respect of share awards.  The shares released are the 2023 DEP Awards granted in December 2023. In line with the requirements of the PRA Remuneration Code, the DEP awards are subject to a 12 month holding period.

Announcement authorised for release by Lorna McMillan, Group Company Secretary.

This announcement is made in accordance with the requirements of the FCA's DTR Disclosure Guidance and Transparency Rules Sourcebook and EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		David Duffy
2	Reason for the notification
a)	Position/status		Executive Director
b)	Initial notification /Amendment		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Virgin Money UK PLC
b)	LEI		213800ZK9VGCYYR6O495
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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		1) Grant in relation to the 2023 LTIP 2) Grant in relation to the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 1,666,520 Nil-consideration 111,035
d)	Aggregated information - Aggregated volume - Price		1,777,555 Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
5	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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		Vesting of the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 111,035
d)	Aggregated information - Aggregated volume - Price		n/a n/a
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
6		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 £0.10 each GB00BD6GN030
b)		Nature of the transaction		Shares sold to cover tax liabilities and sale costs for the vesting of the 2023 DEP
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518306 52,370
d)		Aggregated information - Aggregated volume - Price		n/a n/a
e)		Date of the transaction		All transactions took place on 8 December 2023
f)		Place of the transaction		London / London Stock Exchange (LON:LSE)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Clifford Abrahams
2	Reason for the notification
a)	Position/status		Executive Director
b)	Initial notification /Amendment		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Virgin Money UK PLC
b)	LEI		213800ZK9VGCYYR6O495
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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		1) Grant in relation to the 2023 LTIP 2) Grant in relation to the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 980,300 Nil-consideration 65,315
d)	Aggregated information - Aggregated volume - Price		1,045,615 Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
5	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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		Vesting of the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 65,315
d)	Aggregated information - Aggregated volume - Price		n/a n/a
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
6		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 £0.10 each GB00BD6GN030
b)		Nature of the transaction		Shares sold to cover tax liabilities and sale costs for the vesting of the 2023 DEP
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518306 30,806
d)		Aggregated information - Aggregated volume - Price		n/a n/a
e)		Date of the transaction		All transactions took place on 8 December 2023
f)		Place of the transaction		London / London Stock Exchange (LON:LSE)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Syreeta Brown
2	Reason for the notification
a)	Position/status		PDMR
b)	Initial notification /Amendment		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Virgin Money UK PLC
b)	LEI		213800ZK9VGCYYR6O495
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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		1) Grant in relation to the 2023 LTIP 2) Grant in relation to the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 465,210 Nil-consideration 41,699
d)	Aggregated information - Aggregated volume - Price		506,909 Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
5	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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		Vesting of the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 41,699
d)	Aggregated information - Aggregated volume - Price		n/a n/a
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
6		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 £0.10 each GB00BD6GN030
b)		Nature of the transaction		Shares sold to cover tax liabilities and sale costs for the vesting of the 2023 DEP
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518306 19,668
d)		Aggregated information - Aggregated volume - Price		n/a n/a
e)		Date of the transaction		All transactions took place on 8 December 2023
f)		Place of the transaction		London / London Stock Exchange (LON:LSE)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Allegra Patrizi
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Virgin Money UK PLC
b)	LEI	213800ZK9VGCYYR6O495
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 £0.10 each GB00BD6GN030
b)	Nature of the transaction	Grant in relation to the 2023 LTIP
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil-consideration 1,004,300
d)	Aggregated information - Aggregated volume - Price	n/a n/a
e)	Date of the transaction	8 December 2023
f)	Place of the transaction	London / London Stock Exchange (LON:LSE)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		James Peirson
2	Reason for the notification
a)	Position/status		PDMR
b)	Initial notification /Amendment		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Virgin Money UK PLC
b)	LEI		213800ZK9VGCYYR6O495
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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		1) Grant in relation to the 2023 LTIP 2) Grant in relation to the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 409,908 Nil-consideration 39,652
d)	Aggregated information - Aggregated volume - Price		449,560 Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
5	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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		Vesting of the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 39,652
d)	Aggregated information - Aggregated volume - Price		n/a n/a
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
6		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 £0.10 each GB00BD6GN030
b)		Nature of the transaction		Shares sold to cover tax liabilities and sale costs for the vesting of the 2023 DEP
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518306 18,702
d)		Aggregated information - Aggregated volume - Price		n/a n/a
e)		Date of the transaction		All transactions took place on 8 December 2023
f)		Place of the transaction		London / London Stock Exchange (LON:LSE)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Susan Poot
2	Reason for the notification
a)	Position/status		PDMR
b)	Initial notification /Amendment		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Virgin Money UK PLC
b)	LEI		213800ZK9VGCYYR6O495
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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		1) Grant in relation to the 2023 LTIP 2) Grant in relation to the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 550,520 Nil-consideration 54,022
d)	Aggregated information - Aggregated volume - Price		604,542 Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
5	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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		Vesting of the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 54,022
d)	Aggregated information - Aggregated volume - Price		n/a Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
6		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 £0.10 each GB00BD6GN030
b)		Nature of the transaction		Shares sold to cover tax liabilities and sale costs for the vesting of the 2023 DEP
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518306 26,022
d)		Aggregated information - Aggregated volume - Price		n/a n/a
e)		Date of the transaction		All transactions took place on 8 December 2023
f)		Place of the transaction		London / London Stock Exchange (LON:LSE)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Sarah Wilkinson
2	Reason for the notification
a)	Position/status		PDMR
b)	Initial notification /Amendment		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		Virgin Money UK PLC
b)	LEI		213800ZK9VGCYYR6O495
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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		1) Grant in relation to the 2023 LTIP 2) Grant in relation to the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 886,150 Nil-consideration 61,739
d)	Aggregated information - Aggregated volume - Price		947,889 Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
5	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 £0.10 each GB00BD6GN030
b)	Nature of the transaction		Vesting of the 2023 DEP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 61,739
d)	Aggregated information - Aggregated volume - Price		n/a Nil-consideration
e)	Date of the transaction		8 December 2023
f)	Place of the transaction		London / London Stock Exchange (LON:LSE)
6		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 £0.10 each GB00BD6GN030
b)		Nature of the transaction		Shares sold to cover tax liabilities and sale costs for the vesting of the 2023 DEP
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518306 29,120
d)		Aggregated information - Aggregated volume - Price		n/a n/a
e)		Date of the transaction		All transactions took place on 8 December 2023
f)		Place of the transaction		London / London Stock Exchange (LON:LSE)

 

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