18th Mar 2019 16:00
RSA Insurance Group plc
("the Company")
Transactions in shares by Persons Discharging Managerial Responsibility ("PDMR")
Ordinary Shares of £1.00 each
18 March 2019
The Company announces the following changes to the interests of a PDMR in the Company's Ordinary Shares of £1.00 each ("Ordinary Shares").
On 18 March 2019 the Company granted the following Conditional Awards over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) to the following PDMR at nil cost:
Name | No. of Bonus Deferral Shares over which Award Granted | No. of Performance Shares over which Award Granted |
Patrick Bergander | 3,384 - vesting date 18 March 2019 6,768 - vesting date 18 March 2023 | 23,012 |
Bonus Deferral Shares:
Awards of Bonus Deferral Shares are granted as part of the Annual Bonus award. In line with regulatory requirements in Scandinavia, 3,384 of the shares subject to the award granted to Patrick Bergander vest immediately on the date of grant, being 18 March 2019. Under normal circumstances and in line with regulatory requirements in Scandinavia, the balance of 6,768 shares will vest on 18 March 2023. A six-month holding period is applicable to these share awards, from the relevant vesting date.
Performance Shares:
Under normal circumstances and in line with regulatory requirements in Scandinavia, awards of Performance Shares will vest on 18 March 2023, subject to the testing of performance conditions, the rules of the PSP and the provisions of the Company's approved Remuneration Policy. A six-month holding period is applicable to vested share awards, from the relevant vesting date.
The forms required under the EU Market Abuse Regulation follow.
1. | Details of PDMR / Closely Associated Person ("CAP") | |||||
a) | Name | Patrick Bergander | ||||
b) | Position / status | CEO, RSA Scandinavia | ||||
c) | Initial notification / amendment | Initial Notification | ||||
2. | Details of the issuer | |||||
a) | Name | RSA Insurance Group plc | ||||
b) | LEI | 549300HOGQ7E0TY86138 | ||||
3. | 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 | Ordinary Shares of £1 each ISIN: GB00BKKMKR23 | ||||
b) | Nature of the transaction | Grant of Performance Shares over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
23,012
NIL | ||||
e) | Date of the transaction | 18 Mar 2019 | ||||
f) | Place of the transaction | XLON London Stock Exchange | ||||
3. | 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 | Ordinary Shares of £1 each ISIN: GB00BKKMKR23 | ||||
b) | Nature of the transaction | Grant of Bonus Deferral share award over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost with a vesting date of 18 March 2023. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
6,768
NIL | ||||
e) | Date of the transaction | 18 Mar 2019 | ||||
f) | Place of the transaction | XLON London Stock Exchange
| ||||
3. | 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 | Ordinary Shares of £1 each ISIN: GB00BKKMKR23 | ||||
b) | Nature of the transaction | Grant of Bonus Deferral share award over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost with a vesting date of 18 March 2019. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
3,384
NIL | ||||
e) | Date of the transaction | 18 Mar 2019 | ||||
f) | Place of the transaction | XLON London Stock Exchange
| ||||
3. | 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 | Ordinary Shares of £1 each ISIN: GB00BKKMKR23 | ||||
b) | Nature of the transaction | Vesting of Bonus Deferral share award granted on 18 March 2019 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP). The vested shares are subject to a six-month holding period which ends on 18 September 2019. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
3,384
NIL | ||||
e) | Date of the transaction | 18 Mar 2019 | ||||
f) | Place of the transaction | XLON London Stock Exchange
| ||||
Enquiries to:
Chris Smyth, Deputy Group Company Secretary
RSA Insurance Group plc
Tel: +44 (0) 20 7111 7000
Related Shares:
RSA.L