17th Apr 2014 15:28
RSA Insurance Group plc
Notification of transactions of persons discharging managerial responsibilities
(“PDMRs”)
17 April 2014
RSA Insurance Group plc (the “Company”) operates the following employee share schemes: the Sharesave Plan, the International Sharesave Plan, the Executive Share Option Scheme and the 1999 Executive Share Option Scheme (the “HMRC Share Schemes”), and the RSA 2006 Long Term Incentive Plan, (together with the HMRC Share Schemes, the “RSA Share Schemes”). Certain awards and options, each with an exercise price determined at the time of grant (as shown below) over a number of shares (each, an “Award”), have been granted under the RSA Share Schemes to the participants.
Following the close on 9 April 2014 of the 3 for 8 Rights Issue of 1,380,976,863 New Ordinary Shares at 56 pence per New Ordinary Share announced by the Company on 25 March 2014, the Remuneration Committee of the Board of Directors of the Company has determined that adjustments should be made to the number of shares under the Awards and the exercise price per share in accordance with the terms of each RSA Share Scheme. The adjustments have been authorised by HM Revenue & Customs in respect of the HMRC approved share schemes. Details of the adjustments in respect of Awards held by PDMRs of the Company are set out below.
The Company made adjustments to Awards granted under the Sharesave Plan to the following PDMRs in addition to all other Plan participants:
| Name of PDMR | Date of grant | Number of shares under Option | Exercise Price per share | ||||||||
| Before adjustment | After adjustment | Before adjustment | After adjustment | ||||||||
| Adrian Brown | 16.09.08 | 5,096 | 5,720 | £1.17 | £1.0422 | ||||||
| 16.09.09 | 6,091 | 6,837 | £0.97 | £0.8640 | |||||||
| 15.09.10 | 4,078 | 4,577 | £1.00 | £0.8907 | |||||||
| David Coughlan | 15.09.11 | 9,473 | 10,634 | £0.95 | £0.8462 | ||||||
| Vanessa Evans | 05.12.13 | 9,473 | 10,634 | £0.95 | £0.8462 | ||||||
| Mike Holliday-Williams | 15.09.10 | 9000 | 10,103 | £1.00 | £0.8907 | ||||||
| 05.12.13 | 9,473 | 10,634 | £0.95 | £0.8462 | |||||||
| Neil Lightbown | 16.09.09 | 16,030 | 17,995 | £0.97 | £0.8640 | ||||||
| Caroline Ramsay | 15.09.10 | 4,500 | 5,051 | £1.00 | £0.8907 | ||||||
| Rowan Saunders | 15.09.11 | 9,459 | 10,618 | £0.95 | £0.8462 | ||||||
| Derek Walsh | 15.09.11 | 9,473 | 10,634 | £0.95 | £0.8462 | ||||||
| David Weymouth | 15.09.11 | 9,473 | 10,634 | £0.95 | £0.8462 | ||||||
| Paul Whittaker | 15.09.10 | 5,940 | 6,668 | £1.00 | £0.8907 | ||||||
| 15.09.11 | 3,221 | 3,615 | £0.95 | £0.8462 | |||||||
| 05.12.13 | 6,252 | 7,018 | £0.95 | £0.8462 | |||||||
The Company made adjustments to Awards granted under the 1999 Executive Share Option Scheme to the following PDMRs in addition to all other Plan participants:
| Name of PDMR | Date of Grant | Number of shares under Option | Exercise price per share | ||||||||
| Before adjustment | After adjustment | Before adjustment | After adjustment | ||||||||
| Paul Donaldson | 14.08.04 | 85,000 | 95,420 | £0.79 | £0.7037 | ||||||
| 18.11.04 | 60,000 | 67,355 | £0.76 | £0.6770 | |||||||
| 08.04.05 | 50,000 | 56,129 | £0.80 | £0.7126 | |||||||
| 18.08.05 | 40,000 | 44,903 | £0.93 | £0.8284 | |||||||
| Rowan Saunders | 08.04.05 | 356,763 | 400,500 | £0.80 | £0.7126 | ||||||
| 18.08.05 | 120,000 | 134,711 | £0.93 | £0.8284 | |||||||
The Company made adjustments to Awards granted under the RSA 2006 Long Term Incentive Plan (“LTIP”) to the following PDMRs in addition to all other Plan participants:
| Name of PDMR | Date of Grant | Type of Award | Number of shares under Award | ||||||
| Before adjustment | After adjustment | ||||||||
| Adrian Brown | 11.05.12 | Performance Shares | 1,140,291 | 1,280,086 | |||||
| 03.04.13 | Performance Shares | 623,284 | 699,696 | ||||||
| 11.05.12 | Deferred Shares | 45,384 | 50947 | ||||||
| 03.04.13 | Deferred Shares | 69,905 | 78,475 | ||||||
| 11.05.12 | Matching Shares1,2 | 325,288 | 463,892 | ||||||
| 03.04.13 | Matching Shares1,2 | 278,247 | 370,635 | ||||||
| David Coughlan | 11.05.12 | Performance Shares | 48,012 | 53,898 | |||||
| 03.04.13 | Performance Shares | 51,457 | 57,765 | ||||||
| 11.05.12 | Deferred Shares | 34,882 | 39,158 | ||||||
| 03.04.13 | Deferred Shares | 40,671 | 45,657 | ||||||
| 11.05.12 | Matching Shares1,2 | 137,901 | 183,493 | ||||||
| 03.04.13 | Matching Shares1,2 | 161,883 | 215,631 | ||||||
| Paul Donaldson | 11.05.12 | Performance Shares | 308,500 | 346,320 | |||||
| Deferred Shares | 69,546 | 78,072 | |||||||
| Matching Shares1,2 | 256,325 | 337,100 | |||||||
| Vanessa Evans | 11.05.12 | Performance Shares | 348,089 | 390,763 | |||||
| 03.04.13 | Performance Shares | 321,773 | 361,221 | ||||||
| 11.05.12 | Deferred Shares | 45,617 | 51,209 | ||||||
| 03.04.13 | Deferred Shares | 47,751 | 53,605 | ||||||
| 11.05.12 | Matching Shares1,2 | 180,338 | 239,953 | ||||||
| 03.04.13 | Matching Shares1,2 | 190,064 | 253,174 | ||||||
| Mike Holliday-Williams | 11.05.12 | Performance Shares | 444,113 | 498,559 | |||||
| 03.04.13 | Performance Shares | 495,025 | 555,712 | ||||||
| 11.05.12 | Deferred Shares | 61,583 | 69,132 | ||||||
| 03.04.13 | Deferred Shares | 105,397 | 118,318 | ||||||
| 11.05.12 | Matching Shares1,2 | 243,708 | 273,582 | ||||||
| 03.04.13 | Matching Shares1 | 210,794 | 236,636 | ||||||
| 07.05.13 | Matching Shares1,2 | 220,975 | 248,064 | ||||||
| Richard Houghton | 15.06.12 | Performance Shares | 712,025 | 799,316 | |||||
| 03.04.13 | Performance Shares | 636,020 | 713,993 | ||||||
| Deferred Shares | 72,244 | 81,100 | |||||||
| Matching Shares1,2 | 287,554 | 383,033 | |||||||
| Neil Lightbown | 11.05.12 | Performance Shares | 52,813 | 59,287 | |||||
| 03.04.13 | Performance Shares | 38,593 | 43,324 | ||||||
| 11.05.12 | Deferred Shares | 33,462 | 37,564 | ||||||
| 03.04.13 | Deferred Shares | 25,800 | 28,962 | ||||||
| 11.05.12 | Matching Shares1,2 | 132,290 | 176,029 | ||||||
| 03.04.13 | Matching Shares1,2 | 102,691 | 136,786 | ||||||
| Caroline Ramsay | 11.05.12 | Performance Shares | 43,211 | 48,508 | |||||
| 03.04.13 | Performance Shares | 195,861 | 219,872 | ||||||
| 11.05.12 | Deferred Shares | 30,342 | 34,061 | ||||||
| 03.04.13 | Deferred Shares | 33,223 | 37,296 | ||||||
| 11.05.12 | Matching Shares1 | 119,954 | 134,659 | ||||||
| 03.04.13 | Matching Shares1 | 132,237 | 148,448 | ||||||
| Rowan Saunders | 11.05.12 | Performance Shares | 656,635 | 737,135 | |||||
| 03.04.13 | Performance Shares | 519,962 | 583,707 | ||||||
| 11.05.12 | Deferred Shares | 128,779 | 144,566 | ||||||
| 03.04.13 | Deferred Shares | 77,058 | 86,505 | ||||||
| 11.05.12 | Matching Shares1,2 | 502,573 | 606,076 | ||||||
| 03.04.13 | Matching Shares1,2 | 307,685 | 371,661 | ||||||
| Derek Walsh | 11.05.12 | Performance Shares | 358,719 | 402,696 | |||||
| 03.04.13 | Performance Shares | 331,599 | 372,251 | ||||||
| 11.05.12 | Deferred Shares | 48,532 | 54,481 | ||||||
| 03.04.13 | Deferred Shares | 52,593 | 59,040 | ||||||
| 11.05.12 | Matching Shares1,2 | 245,851 | 338,625 | ||||||
| 03.04.13 | Matching Shares1,2 | 209,336 | 278,841 | ||||||
| David Weymouth | 11.05.12 | Performance Shares | 428,627 | 481,175 | |||||
| 03.04.13 | Performance Shares | 233,139 | 261,720 | ||||||
| 11.05.12 | Deferred Shares | 10,972 | 12,317 | ||||||
| 03.04.13 | Deferred Shares | 50,714 | 56,931 | ||||||
| 11.05.12 | Matching Shares1,2 | 74,756 | 92,947 | ||||||
| 03.04.13 | Matching Shares1,2 | 101,428 | 113,862 | ||||||
| Paul Whittaker | 11.05.12 | Performance Shares | 482,073 | 541,173 | |||||
| 03.04.13 | Performance Shares | 532,170 | 597,411 | ||||||
| 03.04.13 | Deferred Shares | 102,493 | 115,058 | ||||||
| 11.05.12 | Matching Shares1,2 | 117,233 | 151,648 | ||||||
| 03.04.13 | Matching Shares1,2 | 381,902 | 458,969 |
Notes
1 Matching Shares include Compulsory Deferred Matching Shares (“CDMS”), Voluntarily Invested Deferred Matching Shares (“VIDMS”) and Voluntary Deferred Matching Shares (“vDMS”). VIDMS are awarded where a participant has chosen to purchase Voluntarily Invested Deferred Shares (“VIDS”) with a proportion of his annual cash bonus. vDMS are awarded where a participant has agreed for a proportion of their annual cash bonus to be settled in share-related units, which are deferred for a period of three years from the anniversary of the deferral date.
2 Where a participant took up Rights on VIDS, the VIDMS were adjusted in accordance with the rules of the LTIP prior to the overall Rights Issue adjustment being made for all LTIP awards. The additional shares are included in the adjusted figures above.
CONTACTS
RSA Insurance Group plc
Analysts & Investors Press
Rupert Taylor Rea Louise Shield
Head of Investor Relations Director of External Communications
Tel: +44 (0)20 7111 7140 Tel: +44 (0)20 7111 7047
Email: [email protected] Email: [email protected]
Louise Jordan Jon Sellors
Investor Relations Executive Head of Media Relations
Tel: +44 (0)20 7111 1891 Tel: +44 (0)20 7111 7327
Email: [email protected] Email: [email protected]
--ENDS--
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