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Legal & General Grp (LGEN)

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Tuesday 13 April, 2021

Legal & General Grp

Director/PDMR Shareholding

RNS Number : 3465V
Legal & General Group Plc
13 April 2021
 

Legal & general group plc

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them

 

The following notification made under articles 19.1 and 19.3 of the Market Abuse Regulation ("MAR") relates to:

· the exercise of an award granted on 21 April 2016 under the terms of the Legal & General Group Performance Share Plan 2016 (PSP 2016); and

· the exercise of an award granted on 18 April 2017 under the terms of the Legal & General Group Performance Share Plan 2017 (PSP 2017).

The performance conditions attached to the PSP 2016 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the results for 2018 with one third of vested options becoming exercisable immediately, the second third becoming exercisable after the announcement of the 2019 results and the remaining third after the announcement of the 2020 results. PSP 2016 options must be exercised by the seventh anniversary of the date of grant.

The performance conditions attached to the PSP 2017 award provide that the award vests, subject to satisfaction of the performance conditions, after the announcement of the results for 2019 with one third of vested options becoming exercisable immediately, the second third becoming exercisable after the announcement of the 2020 results and the remaining third after the announcement of the 2021 results. PSP 2017 options must be exercised by the seventh anniversary of the date of the grant.

Name

Director/ PDMR

Number of shares awarded on 21 April 2016

Number of shares awarded on 18 April 2017

Number of shares exercised on 12 April 2021

Shares sold to cover tax and social security

Shares retained by individual

Nigel Wilson

Director

171,349

 

287,560

 

458,909

 

215,689

 

 

243,220

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nigel Wilson

2

Reason for the notification

a)

Position/status

Group Chief Executive Officer/Director

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Legal & General Group Plc

b)

LEI

213800JH9QQWHLO99821

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 £0.025 each, with voting rights attached

GB0005603997

b)

Nature of transaction

1.  Exercise of PSP 2016 award of nil cost options over 171,349 shares and exercise of PSP 2017 award of nil cost options over 287,560 shares.

2.  Sale of 215,689 shares to cover tax and dealing costs (243,220 shares retained).

c)

 

Price(s) and volume(s)

 

Price(s)

Volume

1.  Nil cost

1.  458,909



2.  £2.962

2.  215,689

d)

Aggregated information

-  Aggregated volume

-  Price

1.  Price

1.  Volume

1.  Total

1.  £0.00

1.  458,909

1.  £0.00






2.  Price

2.  Volume

2.  Total



2.  £2.962

2.  215,689

2.  £638,870.818

e)

Date of the transaction

12 April 2021

f)

Place of the transaction

London Stock Exchange, XLON

 

13 April 2021

 

Leanne Cornish

Senior Assistant Company Secretary

Legal & General Group Plc

Tel: 0203 124 2107

 

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