Director/PDMR Shareholding

Virgin Money UK PLC

12 December 2023

 

VIRGIN MONEY UK PLC

(Company)

LEI: 213800ZK9VGCYYR6O495

12 December 2023

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

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

On 11 December 2023 the Director and PDMR set out in the table below 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 deferred tranches of the 2019 and 2020 LTIP Awards granted in December 2019 and 2020 respectively. In line with the requirements of the PRA Remuneration Code, the LTIP awards are subject to a 12 month holding period.

VESTING UNDER A DEP COMMENCEMENT AWARD

Also on 11 December 2023, Syreeta Brown, a PDMR of the Company, received ordinary shares in the Company and a portion of the shares received were automatically sold to cover her tax liability 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 a deferred tranche of the DEP Commencement Award granted in December 2021.

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) Vesting of the 2019 LTIP 2) Vesting of the 2020 LTIP
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 81,084 Nil-consideration 133,852
d)	Aggregated information - Aggregated volume - Price		214,936 Nil-consideration
e)	Date of the transaction		11 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		Shares sold to cover tax liabilities and sale costs for the: 1) vesting of the 2019 LTIP 2) vesting of the 2020 LTIP
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518095 38,244 £1.518095 63,131
d)		Aggregated information - Aggregated volume - Price		101,375 £1.518095
e)		Date of the transaction		All transactions took place on 11 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) Vesting of the 2019 LTIP 2) Vesting of the 2020 LTIP
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil-consideration 32,288 Nil-consideration 53,300
d)	Aggregated information - Aggregated volume - Price	85,588 Nil-consideration
e)	Date of the transaction	11 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	Shares sold to cover tax liabilities and sale costs for the: 1) vesting of the 2019 LTIP 2) vesting of the 2020 LTIP
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.518095 15,229 £1.518095 25,139
d)	Aggregated information - Aggregated volume - Price	40,368 £1.518095
e)	Date of the transaction	All transactions took place on 11 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		Vesting of the 2021 DEP Commencement Award
c)	Price(s) and volume(s)		Price(s) Volume(s) Nil-consideration 11,366
d)	Aggregated information - Aggregated volume - Price		n/a
e)	Date of the transaction		11 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 2021 DEP Commencement Award
c)		Price(s) and volume(s)		Price(s) Volume(s) £1.518095 5,361
d)		Aggregated information - Aggregated volume - Price		n/a n/a
e)		Date of the transaction		All transactions took place on 11 December 2023
f)		Place of the transaction		London / London Stock Exchange (LON:LSE)

 

END