8th Apr 2011 17:31
RSA Insurance Group plc("the Company")
Transactions in shares by Persons Discharging Managerial Responsibility ("PDMRs")
Ordinary Shares of 27.5p each
8 April 2011
The Company announces the following changes to the interests of PDMRs in the Company's Ordinary Shares of 27.5p each ("Ordinary Shares").
On 7 April 2011 the Company granted awards under the LTIP to PDMRs at nil cost and on 24 March 2011 Capita Trustees Limited ("Capita"), Trustee of the Company's Long Term Incentive Plan ("LTIP") purchased Ordinary Shares in London at a price of £1.325917 per Ordinary Share as Voluntary Deferred Shares on behalf of PDMRs under the LTIP as follows:
| Name | No. of Voluntary Deferred Shares Purchased | Maximum No. of Voluntary Deferred Matching Shares Receivable | No. of Compulsory Deferred Shares Awarded | Maximum No. of Compulsory Deferred Matching Shares Receivable | No. of Performance Shares Awarded | ||||||
| Adrian Brown | 29,963 | 152,872 | 92,946 | 232,365 | 467,693 | ||||||
| George Culmer | 58,754 | 299,765 | 182,252 | 455,630 | 627,160 | ||||||
| Andy Haste | 100,879 | 514,688 | 312,924 | 782,310 | 1,076,821 | ||||||
| Orlagh Hunt | 29,655 | 151,301 | 91,992 | 229,980 | 285,053 | ||||||
| Anne Jaeger | 17,119 | 95,915 | 58,316 | 145,790 | 215,864 | ||||||
| Simon Lee | 48,067 | 245,239 | 149,103 | 372,757 | 402,329 | ||||||
| Tim Mitchell | 32,953 | 168,127 | 104,121 | 260,302 | 305,592 | ||||||
| Derek Walsh | 26,203 | 133,688 | 81,280 | 203,200 | 258,264 | ||||||
| David Weymouth | 7,489 | 38,209 | 96,837 | 242,092 | 313,673 | ||||||
| Paul Whittaker | 37,447 | 191,056 | 121,121 | 302,802 | 422,614 | ||||||
Voluntary Deferred Shares are purchased using part of the net annual bonus paid to each participant and are held in Trust by Capita. They are not at risk of forfeiture and may be withdrawn from the Trust at any time but the related Voluntary Deferred Matching Shares awards would lapse if the Voluntary Deferred Shares are withdrawn before the vesting date of the Voluntary Deferred Matching Shares.
Voluntary Deferred Matching Shares are awarded where a participant chooses to purchase Voluntary Deferred Shares and are subject to Performance Conditions and retention of the related Voluntary Deferred Shares as explained above. The number of Voluntary Deferred Matching Shares shown is the maximum number of shares receivable if the Performance Conditions are met in full and the related Voluntary Deferred Shares are retained until the vesting date. Under normal circumstances Voluntary Deferred Matching Shares will vest on 7 April 2014 subject to the satisfaction of Performance Conditions.
Compulsory Deferred Shares are granted as part of the annual bonus and will usually vest on the third anniversary of the grant date subject to continuous employment with the RSA Insurance Group plc group of companies. There are no Performance Conditions attached to Compulsory Deferred Shares and under normal circumstances they will vest on 7 April 2014.
Compulsory Deferred Matching Shares are granted to participants who are granted Compulsory Deferred Shares and are subject to Performance Conditions. The number of Compulsory Deferred Matching Shares shown is the maximum number of shares receivable if the Performance Conditions are met in full. Under normal circumstances Complusory Deferred Matching Shares will vest on 7 April 2014 subject to the satisfaction of Performance Conditions.
Under normal circumstances Performance Shares will vest on 7 April 2014 subject to the satisfaction of Performance Conditions.
There is no exercise price for any of the above awards.
This announcement is made following notifications made in accordance with Disclosure and Transparency Rule 3.1.2R.
Enquiries to:
John Mills, Deputy Group Company SecretaryRSA Insurance Group plcTel: +44 (0) 20 7111 7000
Copyright Business Wire 2011
Related Shares:
RSA.L