7th Apr 2020 15:00
RSA Insurance Group plc
("the Company")
Transactions in shares by Persons Discharging Managerial Responsibility ("PDMRs")
Ordinary Shares of £1.00 each
7 April 2020
The Company announces the following changes to the interests of PDMRs in the Company's Ordinary Shares of £1.00 each ("Shares").
On 6 April 2020 (being the first trading day after the third anniversary of the grant) the nil cost Conditional Awards over Shares granted on 4 April 2017 under the terms of the RSA Performance Share Plan 2014 ("PSP") to the following PDMR vested as shown in the table below.
Name | No. of Bonus Deferral Shares Vested | No. of Dividend Equivalent Shares on Bonus Deferral Shares | No. of Performance Shares Vested | No. of Dividend Equivalent Shares on Performance Shares |
| No. of Shares sold to cover statutory deductions |
Nathan Williams | 25,865 | 3,073 | - | - |
| 13,643 |
· Bonus Deferral Shares relate to awards made in respect of 2016 as part of the Annual Bonus Plan.
· The Dividend Equivalent Shares are added to the awards at vesting in accordance with the rules of the PSP and Directors' Remuneration Policy.
· Shares sold to cover statutory deductions were sold at a price of £3.844 per share on 6 April 2020.
· Shares retained have been transferred to the Equatex nominee account operated by RSA as part of the share plan administration system.
· A six-month holding period applies to 12,963 vested Deferred Bonus Shares and to the Dividend Equivalents applicable to these shares excluding any sold to satisfy statutory deductions. This holding period is under Danish regulation applicable to these grants.
The forms required under the EU Market Abuse Regulation follow.
1. | Details of PDMR / Person Closely Associated Person ("PCA") | |||||
a) | Name | Nathan Williams | ||||
b) | Position / status | Group Underwriting Director | ||||
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 | Vesting of Bonus Deferral Share awards granted on 4 April 2017 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP). | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
25,865
NIL | ||||
e) | Date of the transaction | 6 April 2020 | ||||
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 Dividend Equivalent Share award granted as part of the Bonus Deferral Share awards on 4 April 2017 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost and added to that award at vesting. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
3,073
NIL | ||||
e) | Date of the transaction | 6 April 2020 | ||||
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 | Sale of shares to cover statutory deductions on share awards vested on 6 April 2020 under the RSA Performance Share Plan 2014. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
13,643
£3.844
| ||||
e) | Date of the transaction | 6 April 2020 | ||||
f) | Place of the transaction | XLON London Stock Exchange | ||||
Enquiries to:
Christopher Smyth, Group Deputy Company Secretary
RSA Insurance Group plc
Tel: +44 (0) 20 7111 7000
Related Shares:
RSA.L