4th Mar 2016 14:45
RSA Insurance Group plc
(“the Company”)
Transactions in shares by Persons Discharging Managerial Responsibility (“PDMRs”)
Ordinary Shares of £1.00 each
4th March 2016
The Company announces the following changes to the interests of PDMRs in the Company’s Ordinary Shares of £1.00 each (“Ordinary Shares”).
On 4th March 2016 the Company granted the following Conditional Awards over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) to PDMRs at nil cost:
| Name | Number of Restricted Shares awarded | ||
| Scott Egan | 56,673 |
In line with the Company’s approved Remuneration Policy, the Restricted Shares awarded to Scott Egan are in compensation for an award forfeited on leaving his previous employer. They will vest immediately but remain subject to repayment terms in the event of resignation or termination for gross misconduct within two years of his appointment date, and are covered by RSA’s shareholding requirements under which Executive Directors must build up a shareholding to a specified level prior to the sale of any shares (except those sold to cover statutory deductions). As this award vests immediately, sufficient shares have been sold to cover Income Tax and National Insurance Contributions (as detailed below) and the remainder of shares transferred to Mr Egan and are held in a nominee account.
| Name | Number of shares sold | Date of sale | Sale price per share | ||||
| Scott Egan | 26,717 | 4 March 2016 | £4.47763 |
This announcement is made following notifications made in accordance with Disclosure and Transparency Rule 3.1.2R.
The transactions were carried out in London.
---ENDS----
Enquiries to:
Elinor Bell, Deputy Group Company Secretary
RSA Insurance Group plc
Tel: +44 (0) 20 7111 7000
Louise Shield, External Communications Director
Tel: +44 (0) 20 7111 7047
View source version on businesswire.com: http://www.businesswire.com/news/home/20160304005417/en/
Copyright Business Wire 2016
Related Shares:
RSA.L