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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Direct Line Insurance Group Plc | LSE:DLG | London | Ordinary Share | GB00BY9D0Y18 | ORD 10 10/11P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -3.00 | -1.56% | 189.50 | 189.70 | 190.00 | 192.40 | 187.20 | 190.60 | 7,642,593 | 16:35:01 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Fire, Marine, Casualty Ins | 2.86B | 222.9M | 0.1700 | 11.18 | 2.49B |
From Apr 2019 to Apr 2024
TIDMDLG
RNS Number : 9312A
Direct Line Insurance Group PLC
29 March 2017
DIRECT LINE INSURANCE GROUP PLC ("DLG")
TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs")
29 March 2017
DLG announces the following changes in the interests of Directors and other PDMRs in DLG's ordinary shares of 10 (10) /(11) pence each ("Ordinary Shares").
Direct Line Insurance Group plc 2012 Long-Term Incentive Plan ("LTIP")
On 27 March 2017, awards to Participants over options to acquire Ordinary Shares at nil-cost under the LTIP, awarded on 26 March 2014, (each award an "Option Award"), vested as detailed below (Column D). Under the LTIP Rules, Option Awards vest at the expiry of the Performance Period, subject to the Performance Conditions and the addition of Dividend Equivalents. The proportion of the Option Awards vesting in accordance with the Performance Conditions, measured during the Performance Period, is 85.6%. Awards can be exercised for the period up to 10 years from the date of grant and dividends are accrued up to the date of vesting.
On 27 March 2017, certain PDMRs exercised their options to acquire the Ordinary Shares subject to their vesting Option Awards, as detailed in Column E. On 27 March 2017 they then sold the number of Ordinary Shares detailed in Column F to settle the tax liability arising from the Exercise.
Hot Features
Premium
Number of Number of Number of Total Number of Number of Number of
Ordinary Ordinary additional number Ordinary Ordinary Ordinary
Shares subject Shares Ordinary of Ordinary Shares Shares Shares
to an Option subject Shares Shares acquired sold to received by
Award (post to an subject to subject following settle PDMR from
the 2015 Option an Option to an an the tax LTIP
Share Award Award after Option Option liability exercise
Consolidation) deducted the Award Exercise arising after
after calculation Vesting on 27 from payment
applying of Dividend March 2017 an Option of tax
Performance Equivalents Exercise
Conditions on
27 March
2017,
all at a
price
of 334.12p
per share
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
A B C D = A-B+C E F G = E - F
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Directors
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Paul
Geddes 286,261 55,826 101,415 331,850 331,850 156,518 175,332
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Mike - - - - - - -
Holliday-Williams
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
John
Reizenstein 173,263 33,789 61,382 200,856 200,856 94,734 106,122
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
PDMRs
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Jonathan
Greenwood 77,685 15,150 27,521 90,056 90,056 42,326 47,730
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Steve
Maddock 100,709 19,640 35,678 116,747 116,747 54,871 61,876
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Humphrey
Tomlinson 51,183 9,982 18,132 59,333 59,333 27,887 31,446
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Jose
Vazquez 94,955 18,518 33,639 110,076 110,076 51,736 58,340
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Simon Linares - - - - - -
------------------- --------------- ------------ ------------ ------------ ----------- ----------- ------------
Direct Line Insurance Group plc 2012 Deferred Annual Incentive Plan ("DAIP")
On 27 March 2017, awards to Participants over options to acquire Ordinary Shares at nil-cost under the DAIP, awarded on 26 March 2014, (each award an "Option Award"), vested as detailed below (Column C). Under the DAIP Rules, Option Awards vest three years after award, with the addition of Dividend Equivalents. Awards can be exercised for the period up to 10 years from the date of grant and dividends are accrued up to the date of vesting.
On 27 March 2017, certain PDMRs exercised their options to acquire the Ordinary Shares subject to their vesting Option Awards, as detailed in Column D. They then sold the number of Ordinary Shares detailed in Column E to settle the tax liability arising from the Exercise.
Number of Number of Total number Number of Number of Number of
Ordinary additional of Ordinary Ordinary Ordinary Ordinary
Shares subject Ordinary Shares subject Shares Shares Shares
to an Option Shares to an Option acquired sold to received by
Award (post subject to Award Vesting following an settle PDMR from
the 2015 an Option Option the tax LTIP exercise
Share Award after Exercise liability after payment
Consolidation) the on 27 March arising from of tax
calculation 2017 an Option
of Dividend Exercise on
Equivalents 27 March
2017,
all at a
price
of 334.12p
per share
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
A B C = A +B D E F = D - E
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
Directors
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
Paul
Geddes 125,804 44,568 170,372 170,372 81,964* 88,408
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
Mike - - - - - -
Holliday-Williams
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
John
Reizenstein 62,525 22,150 84,675 84,675 39,938 44,737
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
PDMRs
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
Jonathan
Greenwood 41,432 14,678 56,110 56,110 26,372 29,738
------------------- --------------- -------------- --------------- -------------- -------------- ---------------
Steve
Maddock 49,719 17,613 67,332 67,332 31,646 35,686 ------------------- --------------- -------------- --------------- -------------- -------------- --------------- Humphrey Tomlinson 22,599 8,005 30,604 30,604 14,384 16,220 ------------------- --------------- -------------- --------------- -------------- -------------- --------------- Jose Vazquez 37,665 13,343 51,008 51,008 23,974 27,034 ------------------- --------------- -------------- --------------- -------------- -------------- --------------- Simon Linares - - - - - - ------------------- --------------- -------------- --------------- -------------- -------------- ---------------
* The 81,964 shares sold to settle the tax liability arising from the Option Exercise for Paul Geddes were sold at a price of 334.34p per share.
DLG was also notified on 27 and 28 March 2017 of the below sales of Ordinary Shares by PDMRs, in Column A of the below table. After the vesting and sales, the below Directors and PDMRs all meet DLG's Share Ownership Guidelines.
Number of Shares acquired Number of Resulting Total interest
beneficially from above Ordinary Shares holding of in Ordinary
owned vestings sold on 27 beneficially Shares, including
Ordinary March 2017, owned Ordinary under share
Shares held at a price Shares at plans.
before the of 334.12p* 29 March 2017
above vestings per share
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
A
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Directors
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Paul Geddes 572,468 263,740 - 836,208 2,468,690
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Mike Holliday-Williams 112,989 - - 112,989 1,182,502
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
John
Reizenstein 215,800 150,859 - 366,659 2,286,479
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
PDMRs
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Jonathan
Greenwood 146,566 77,468 105,906 118,128 621,509
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Steve
Maddock 194,266 97,562 146,106 145,722 816,877
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Humphrey
Tomlinson 207,634 47,666 148,270 107,030 452,651
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Jose
Vazquez 187,549 85,374 147,923 125,000 778,341
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
Simon Linares 299 - - 299 463,747
------------------------ ---------------- ---------------- ----------------- ---------------- -------------------
*For Jonathan Greenwood, of the 105,906 shares sold, 28,438 were sold at a price of 335.74p per share. For Steve Maddock, of the 146,106 shares sold, 48,544 were sold at 3.33p per share. For Humphrey Tomlinson, of the 148,270 shares sold, 100,604 shares were sold at a price of 334.50p per share. For Jose Vazquez, of the 147,923 shares sold, 62,549 were sold at a price of 335.25p per share.
For further information on DLG's remuneration policy and the implementation of the policy please see our 2016 Directors' Remuneration Report which is available at: www.directlinegroup.com.
The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
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 Initial Notification
/Amendment
--- -------------------------- --------------------------------------------------------
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 Ordinary shares of 10 (10) /(11) pence
financial instrument, ("Shares")
type of instrument
Identification code GB00BY9D0Y18
--- -------------------------- --------------------------------------------------------
b) Nature of the transaction (i) Acquisition of Shares pursuant
to the vesting of nil cost options
under the DLG Long Term Incentive Plan
(the "LTIP") and Deferred Annual Incentive
Plan (the "DAIP"); and
(ii) Sale of Shares to settle tax liabilities
arising from LTIP and DAIP vestings.
--- -------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Price (s) Volume (s)
---------------------- ----------------
(i) Nil LTIP - 331,850
DAIP - 170,372
---------------------- ----------------
(ii) LTIP - GBP3.3412 LTIP - 156,518
DAIP - GBP3.3434 DAIP - 81,964
---------------------- ----------------
--- -------------------------- --------------------------------------------------------
d) Aggregated information
- Aggregated volume 238,482
- Price GBP3.3420
--- -------------------------- --------------------------------------------------------
e) Date of the transaction 27 March 2017
--- -------------------------- --------------------------------------------------------
f) Place of the transaction The London Stock Exchange (XLON)
--- -------------------------- --------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------------------
a) Name John Reizenstein
--- -------------------------- ----------------------------------------------------
2 Reason for the notification
--- --------------------------------------------------------------------------------
a) Position/status Chief Financial Officer / PDMR
--- -------------------------- ----------------------------------------------------
b) Initial notification Initial Notification
/Amendment
--- -------------------------- ----------------------------------------------------
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 Ordinary shares of 10 (10) /(11) pence
financial instrument, ("Shares")
type of instrument
Identification code GB00BY9D0Y18
--- -------------------------- ----------------------------------------------------
b) Nature of the transaction (i) Acquisition of Shares pursuant
to the vesting of nil cost options
under the DLG Long Term Incentive Plan
(the "LTIP") and Deferred Annual Incentive
Plan (the "DAIP"); and
(ii) Sale of Shares to settle tax liabilities
arising from LTIP and DAIP vestings.
--- -------------------------- ----------------------------------------------------
c) Price(s) and volume(s) Price (s) Volume (s)
--------------- ---------------
(i) Nil LTIP - 200,856
DAIP - 84,675
--------------- ---------------
(ii) GBP3.3412 LTIP - 94,734
DAIP - 39,938
--------------- ---------------
--- -------------------------- ----------------------------------------------------
d) Aggregated information
- Aggregated volume 134,672
- Price GBP3.3412
--- -------------------------- ----------------------------------------------------
e) Date of the transaction 27 March 2017
--- -------------------------- ----------------------------------------------------
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 Initial Notification
/Amendment
--- -------------------------- ----------------------------------------------------
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 Ordinary shares of 10 (10) /(11) pence
financial instrument, ("Shares")
type of instrument
Identification code GB00BY9D0Y18
--- -------------------------- ----------------------------------------------------
b) Nature of the transaction (i) Acquisition of Shares pursuant
to the vesting of nil cost options
under the DLG Long Term Incentive Plan
(the "LTIP") and Deferred Annual Incentive
Plan (the "DAIP");
(ii) Sale of Shares to settle tax liabilities
arising from LTIP and DAIP vestings;
and
(iii) Sale of Shares.
--- -------------------------- ----------------------------------------------------
c) Price(s) and volume(s) Price (s) Volume (s)
----------------- ---------------
(i) Nil LTIP - 90,056
DAIP - 56,110
----------------- ---------------
(ii) GBP3.3412 LTIP - 42,326
DAIP - 26,372
----------------- ---------------
(iii) GBP3.3412 77,468
GBP3.3574 28,438
----------------- ---------------
--- -------------------------- ----------------------------------------------------
d) Aggregated information
- Aggregated volume 174,604
- Price GBP3.3438
--- -------------------------- ----------------------------------------------------
e) Date of the transaction 27 March 2017
--- -------------------------- ----------------------------------------------------
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 Initial Notification
/Amendment
--- -------------------------- ----------------------------------------------------
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 Ordinary shares of 10 (10) /(11) pence
financial instrument, ("Shares")
type of instrument
Identification code GB00BY9D0Y18
--- -------------------------- ----------------------------------------------------
b) Nature of the transaction (i) Acquisition of Shares pursuant
to the vesting of nil cost options
under the DLG Long Term Incentive Plan
(the "LTIP") and the DLG Deferred Annual
Incentive Plan (the "DAIP");
(ii) Sale of Shares to settle tax liabilities
arising from LTIP and DAIP vestings;
and
(iii) Sale of Shares.
--- -------------------------- ----------------------------------------------------
c) Price(s) and volume(s) Price (s) Volume (s)
----------------- ---------------
(i) Nil LTIP - 116,747
DAIP - 67,332
----------------- ---------------
(ii) GBP3.3412 LTIP - 54,871
DAIP - 31,646
----------------- ---------------
(iii) GBP3.3412 97,562
GBP3.33 48,544
----------------- ---------------
--- -------------------------- ----------------------------------------------------
d) Aggregated information
- Aggregated volume 232,623
- Price GBP3.3389
--- -------------------------- ----------------------------------------------------
e) Date of the transaction 27 March 2017
--- -------------------------- ----------------------------------------------------
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 Initial Notification
/Amendment
--- -------------------------- ----------------------------------------------------
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 Ordinary shares of 10 (10) /(11) pence
financial instrument, ("Shares")
type of instrument
Identification code GB00BY9D0Y18
--- -------------------------- ----------------------------------------------------
b) Nature of the transaction (i) Acquisition of Shares pursuant
to the vesting of nil cost options
under the DLG Long Term Incentive Plan
(the "LTIP") and the DLG Deferred Annual
Incentive Plan (the "DAIP");
(ii) Sale of Shares to settle tax liabilities
arising from LTIP and DAIP vestings;
and
(iii) Sale of Shares.
--- -------------------------- ----------------------------------------------------
c) Price(s) and volume(s) Price (s) Volume (s)
----------------- ---------------
(i) Nil LTIP - 59,333
DAIP - 30,604
----------------- ---------------
(ii) GBP3.3412 LTIP - 27,887
DAIP - 14,384
----------------- ---------------
(iii) GBP3.3412 47,666
GBP3.3450 100,604
----------------- ---------------
--- -------------------------- ----------------------------------------------------
d) Aggregated information
- Aggregated volume 190,541
- Price GBP3.3432
--- -------------------------- ----------------------------------------------------
e) Date of the transaction 27 March 2017
--- -------------------------- ----------------------------------------------------
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 Initial Notification
/Amendment
--- -------------------------- ----------------------------------------------------
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 Ordinary shares of 10 (10) /(11) pence
financial instrument, ("Shares")
type of instrument
Identification code GB00BY9D0Y18
--- -------------------------- ----------------------------------------------------
b) Nature of the transaction (i) Acquisition of Shares pursuant
to the vesting of nil cost options
under the DLG Long Term Incentive Plan
(the "LTIP") and the DLG Deferred Annual
Incentive Plan (the "DAIP");
(ii) Sale of Shares to settle tax liabilities
arising from LTIP and DAIP vestings;
and
(iii) Sale of Shares.
--- -------------------------- ----------------------------------------------------
c) Price(s) and volume(s) Price (s) Volume (s)
----------------- ---------------
(i) Nil LTIP - 110,076
DAIP - 51,008
----------------- ---------------
(ii) GBP3.3412 LTIP - 51,736
DAIP - 23,974
----------------- ---------------
(iii) GBP3.3412 85,374
GBP3.3525 62,549
----------------- ---------------
--- -------------------------- ----------------------------------------------------
d) Aggregated information
- Aggregated volume 223,633
- Price GBP3.3444
--- -------------------------- ----------------------------------------------------
e) Date of the transaction 27 March 2017
--- -------------------------- ----------------------------------------------------
f) Place of the transaction The London Stock Exchange (XLON)
--- -------------------------- ----------------------------------------------------
For any enquiries relating to this announcement, please contact:
Simon Watson
Deputy Company Secretary
Telephone: 01651 831911
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHEKLFLDXFBBBX
(END) Dow Jones Newswires
March 29, 2017 11:15 ET (15:15 GMT)
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