14th Apr 2010 15:25
RSA Insurance Group plc
("the Company")
Transactions in shares by Persons Discharging Managerial Responsibility ("PDMRs")
Ordinary Shares of 27.5p each
14 April 2010
The Company announces the following changes to the interests of PDMRs in the Company's Ordinary Shares of 27.5p each ("Ordinary Shares").
On 26 March 2010 Lloyds TSB Offshore Trust Company Limited ("LloydsTSB"), Trustee of the Company's Long Term Incentive Plan ("LTIP") purchased Ordinary Shares in London at a price of £1.273806 per Ordinary Share as Voluntary Deferred Shares on behalf of PDMRs under the LTIP as follows:
| Name | No. of VoluntaryDeferred SharesPurchased | % of IssuedShare Class | Total beneficialinterest followingnotification (No.)* | TotalPercentage ofIssued ShareClass (%) | |||||
| Adrian Brown | 49,315 | 0.0014 | 777,071 | 0.0226 | |||||
| Mark George Culmer | 90,693 | 0.0026 | 1,481,303 | 0.0430 | |||||
| Andrew Kenneth Haste | 155,637 | 0.0045 | 5,272,425 | 0.1530 | |||||
| Orlagh Hunt | 47,162 | 0.0014 | 458,367 | 0.0133 | |||||
| Anne Jaeger | 25,095 | 0.0007 | 37,694 | 0.0011 | |||||
| Simon Philip Guy Lee | 73,959 | 0.0021 | 941,924 | 0.0273 | |||||
| Timothy Mitchell | 46,775 | 0.0014 | 92,865 | 0.0027 | |||||
| Clare Sheikh | 40,856 | 0.0012 | 106,566 | 0.0031 | |||||
| David Weymouth | 15,591 | 0.0005 | 108,061 | 0.0031 | |||||
| Paul Whittaker | 61,976 | 0.0018 | 648,962 | 0.0188 |
* This includes all Voluntary Deferred Shares beneficially held by each participant.
Voluntary Deferred Shares are purchased using part of the net annual bonus paid to each participant and are held in Trust by LloydsTSB. They are not at risk of forfeiture and may be withdrawn from the Trust at any time but the related Voluntary Deferred Matching Shares awards would lapse if the Voluntary Deferred Shares are withdrawn before the vesting date of the Voluntary Deferred Matching Shares.
On 7 April 2010 the Company granted awards under the LTIP to PDMRs at nil cost as follows:
| Name | No. ofPerformanceShares Awarded | Maximum No. ofVoluntaryDeferredMatching SharesReceivable | No. ofCompulsoryDeferred SharesAwarded | Maximum No. ofCompulsoryDeferred Matching SharesReceivable | Total No. ofOptions andAwards heldfollowingnotification* | ||||||
| Adrian Brown | 435,823 | 208,961 | 83,608 | 209,020 | 2,297,599 | ||||||
| Mark George Culmer | 650,927 | 384,292 | 153,758 | 384,395 | 5,976,938 | ||||||
| Andrew Kenneth Haste | 1,117,046 | 659,478 | 263,862 | 659,655 | 6,885,399 | ||||||
| Orlagh Hunt | 295,856 | 199,838 | 79,957 | 199,892 | 1,908,191 | ||||||
| Anne Jaeger | 210,831 | 140,226 | 54,752 | 136,880 | 1,056,824 | ||||||
| Simon Philip Guy Lee | 501,091 | 313,385 | 125,387 | 313,467 | 4,387,963 | ||||||
| Timothy Mitchell | 317,173 | 198,199 | 81,531 | 203,827 | 1,867,510 | ||||||
| Clare Sheikh | 287,546 | 173,118 | 76,193 | 190,482 | 1,849,555 | ||||||
| David Weymouth | 325,561 | 66,063 | 87,985 | 219,962 | 1,764,939 | ||||||
| Paul Whittaker | 408,254 | 262,610 | 105,084 | 262,710 | 2,371,573 |
* This excludes all Voluntary Deferred Shares beneficially held by each participant.
Under normal circumstances Performance Shares will vest on 7 April 2013 subject to the satisfaction of Performance Conditions.
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 2013 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 2013.
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 2013 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:
Julia Possener, Deputy Group Company SecretaryRSA Insurance Group plcTel: +44 (0) 20 7111 7000
Copyright Business Wire 2010
Related Shares:
RSA.L