14th May 2012 13:30
RSA Insurance Group plc
(the "Company")
Transactions in shares by Persons Discharging Managerial Responsibility ("PDMRs")
Ordinary Shares of 27.5p each
14 May 2012
The Company announces the following changes to the interests of PDMRs in the Company's Ordinary Shares of 27.5p each ("Ordinary Shares").
On 11 May 2012 the Company granted the following awards under The Royal & Sun Alliance 2006 Long-Term Incentive Plan ("LTIP") to PDMRs at nil cost:
| Name | No. of shares arising throughbonus deferral | Maximum no. of shares receivable in2015 dependant upon performanceand service conditions | |||
| Adrian Brown | 101,669 | 1,465,579 | |||
| Paul Donaldson | 97,682 | 564,825 | |||
| Vanessa Evans | 67,002 | 528,427 | |||
| Mike Holliday-Williams | 99,623 | 687,821 | |||
| Anne Jaeger | 27,525 | 395,467 | |||
| Simon Lee | 112,135 | 1,533,842 | |||
| Tim Mitchell | 56,890 | 633,152 | |||
| Rowan Saunders | 194,431 | 1,159,208 | |||
| Derek Walsh | 84,241 | 604,570 | |||
| David Weymouth | 23,647 | 503,383 | |||
| Paul Whittaker | 28,136 | 599,306 |
PDMRs receive an annual share grant equal to 33% of the gross cash bonus award paid to them ("Compulsory Deferral"). In addition, the PDMRs are given the opportunity to invest a proportion of their annual bonus award into the LTIP ("Voluntary Deferral"). The shares are held in trust by Capita Trustees Limited ("Capita") and were purchased by Capita on behalf of the participants on 8 and 9 May 2012 at a price of £1.0588 per Ordinary Share. These deferred shares are released on the third anniversary of the grant date. Shares invested through Voluntary Deferral can be removed from the trust before this date, but the individual will then forfeit any linked performance-related matching award. Deferred shares are not subject to performance conditions. However, awards granted under Compulsory Deferral are subject to continued service.
Shares granted through the LTIP which are subject to performance and service conditions vest under normal circumstances on the third anniversary of the grant date: 11 May 2015. The awards lapse if the conditions underpinning them are not met and they are reduced if the performance conditions are partially achieved. There is no retesting of the 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.
The transactions were carried out in London.
Enquiries to:John Mills, Deputy Group Company SecretaryRSA Insurance Group plcTel: +44 (0) 20 7111 7000
Copyright Business Wire 2012
Related Shares:
RSA.L