2nd May 2007 18:31
Legal & General Group PLC02 May 2007 Legal & General Group Plc Directors' & Senior Managers' Share Interests Legal & General Group Performance Share Plan - Release On 1 May 2007, a total of 1,598,500 Ordinary shares of 2.5p each were releasedto the Executive Directors of Legal & General Group Plc ("Group") from thePerformance Share Plan ("PSP"). This and other long-term share incentiveschemes are described in detail in the 2006 Report and Accounts. Details of the shares released and subsequent sales by the Executive Directorsare set out in the table below. Over the period from 8 April 2004 to 10 April 2007, the Total Shareholder Returnof Legal & General Group Plc was ranked 37th in the FTSE 100. Under the termsof the PSP, a multiple of 2.3 was applied to the performance shares awarded in2004, which matured on 10 April 2007. The price set in accordance with tax legislation was 161.163p per share. Name Number of Shares Number of Shares Sold to pay for Number of Shares Released Tax and NI Subsequently Sold C. R. R. Avery 276,000 113,160 162,840T. J. Breedon 345,000 141,450 0A. W. Palmer 391,000 160,310 0R. A. Phipps 414,000 169,740 244,260J. B. Pollock 172,500 70,726 101,774 The following Senior Managers (being persons discharging managerialresponsibility within the Group) were also participants in the Legal & GeneralGroup Plc PSP: Name Number of Shares Number of Shares Sold to pay for Number of Shares Released Tax and NI Subsequently Sold M. J. Bolton 69,000 28,291 40,709I. A. Gibson 57,500 23,576 33,924M. J. Gregory 92,000 37,721 54,279G. J. Hoskin 138,000 56,581 81,419 Legal & General Group Share Bonus Plan Following a recommendation of the ESOT Committee on 1 May 2007, a total of457,929 Ordinary shares of 2.5p each, were conditionally allocated to theExecutive Directors of Legal & General Group Plc under the Share Bonus Plan ("SBP"). The effective date for the grant of the awards was 25 April 2007 and thecalculation of the initial award allocation was based on a share price of155.7p, which was the closing middle market price on 24 April 2007. Noconsideration was paid for the grant of any award. These shares will be held intrust for three years before vesting. Details of the shares allocated are set out in the table below: Name Number of Shares Allocated C. R. R. Avery 66,152T. J. Breedon 151,252A. W. Palmer 89,116R. A. Phipps 89,116J. B. Pollock 60,693 The following Senior Managers are also participants in the Legal & General GroupPlc SBP: Name Number of Shares Allocated M. J. Bolton 28,901C. A. Davies 14,450I. A. Gibson 19,267M. J. Gregory 32,113G. J. Hoskin 32,755 Legal & General Group Employee Share Plan In common with all eligible employees, each of the Executive Directors of Legal& General Group Plc has been invited to apply for partnership shares under theLegal & General Group Employee Share Plan ("the Plan") on a monthly basis. On 1May 2007, each Executive Director chose to contribute to purchase the followingpartnership shares: Name Partnership Shares C. R. R. Avery 81T. J. Breedon 81A. W. Palmer 81R. A. Phipps 81J. B. Pollock 81 The Group matched these shares, on a one-to-one basis, up to £20 per month.Accordingly, each executive director received 13 matching shares. The shareswere purchased at a price of 154.4p per share. The following Senior Managers also chose to take part in the Plan. Each SeniorManager chose to contribute to purchase the following partnership shares: Name Partnership Shares M. J. Bolton 81C. A. Davies 81I. A. Gibson 81M. J. Gregory 81G. J. Hoskin 81 The Group matched these shares, on a one-to-one basis, up to £20 per month.Accordingly, each Senior Manager received 13 matching shares. The shares werepurchased at a price of 154.4p per share. Total Interests in Shares - Executive Directors Following all the above SBP awards and Employee Share Plan purchases, theExecutive Directors have beneficial interests in the shares of the Group(comprising shares, shares held by trustees within share schemes or plans andshare options) as set out below: Name Shares Shares in schemes Options Total beneficial interestsC. R. R. Avery 679,121 211,225 272,836 1,163,182T. J. Breedon 1,280,782 404,690 87,880 1,773,352A. W. Palmer 1,023,056 280,898 794,107 2,098,061R. A. Phipps 1,250,520 295,994 381,280 1,937,794J. B. Pollock 297,670 171,149 30,408 499,227 Non Executive Directors' purchases On 1 May 2007, the following non-executive directors of the Group purchased thefollowing ordinary shares of 2.5p each ("shares") in the Group at a price of154.4p per share: Name Shares PurchasedF. A. Heaton 943B. C. Hodson 943Sir R. J. Margetts 5,152R. H. Schmitz 943H. E. Staunton 1,261J. M Strachan 943Sir D. A. Walker 1,261 Following these awards, the non-executive directors' current beneficialinterests in the Group now stand at: Name Total Beneficial InterestF. A. Heaton 80,501B. C. Hodson 80,588Sir R. J. Margetts 478,042R. H. Schmitz 87,862H. E. Staunton 102,434J. M Strachan 66,448Sir D. A. Walker 223,334 Legal & General Group Performance Share Plan - Conditional Allocation Following a recommendation of the ESOT Committee on 1 May 2007, a total of738,597 Ordinary shares of 2.5p each were conditionally allocated to theExecutive Directors of Legal & General Group Plc, under the PSP. The effective date for the grant of the awards was 25 April 2007 and thecalculation of the initial award allocation was based on a share price of155.7p, which was the closing middle market price on 24 April 2007. Noconsideration was paid for the grant of the award. The number of PSP sharesthat may be transferred to the individual is dependent upon the TotalShareholder Return of Legal & General Group Plc compared with the FTSE 100,measured over a three year period, but is capped at a multiple of 4 times theshares allocated below. Note: This conditional award has no effect on the Executive Directors'beneficial interests in the Group. Name Number of Shares Maximum Number of Shares Potentially Allocated Releasable C. R. R. Avery 112,395 449,580T. J. Breedon 237,636 950,544A. W. Palmer 141,297 565,188R. A. Phipps 144,508 578,032J. B. Pollock 102,761 411,044 The following Senior Managers are also participants in the Legal & General GroupPlc PSP: Name Number of Shares Allocated Maximum Number of Shares Potentially Releasable M. J. Bolton 41,746 166,984C. A. Davies 30,828 123,312I. A. Gibson 28,259 113,036M. J. Gregory 57,803 231,212G. J. Hoskin 75,144 300,576 Catherine StageAssistant Company Secretary This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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