23rd May 2018 12:30
RSA Insurance Group plc
("the Company")
Transactions in shares by Persons Discharging Managerial Responsibility ("PDMRs")
Ordinary Shares of £1.00 each
23 May 2018
The Company announces the following changes to the interests of PDMRs in the Company's Ordinary Shares of £1.00 each ("Shares").
On 18 May 2018 the nil cost Conditional Awards over Shares granted on 18 May 2015 to Nathan Williams under the terms of the RSA Performance Share Plan 2014 ("PSP") vested as shown in the table below.
On 19 May 2018 the nil cost Conditional Awards over Shares granted on 19 May 2014 to Patrick Bergander under the terms of the RSA Performance Share Plan 2014 ("PSP") vested as shown in the table below.
Name | No. of Performance Shares vested | No. of Dividend Equivalent Shares on Performance Shares | No. of Bonus Deferral Shares Vested | No. of Dividend Equivalent Shares on Bonus Deferral Shares | No. of Shares sold to cover statutory deductions | |
Nathan Williams | 14,588 | 1,184 | 5,403 | 438 | 16,349 | |
Patrick Bergander | 19,434 | 1,667 | - | - | - |
· Bonus Deferral Shares relate to awards made in respect of 2014 as part of the Annual Bonus Plan.
· As disclosed in the Company's 2017 Annual Report and Accounts, Performance Shares granted to Nathan Williams vested at 57.7% following testing of Group underlying Return on Tangible Equity (ROTE), Relative Total Shareholder Return (TSR) and Business Review Scorecard factors.
· As disclosed in the Company's 2016 Annual Report and Accounts, Performance Shares granted to Patrick Bergander vested at 42.7% following testing of Group underlying Return on Tangible Equity (ROTE), Relative Total Shareholder Return (TSR) and Business Review Scorecard factors
· 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 for Nathan Williams were sold at an average price of £6.566940 per share on 18 May 2018.
· 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 vested Performance & Deferred Bonus Shares and to the Dividend Equivalents. 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 / Closely Associated Person ("CAP") | |||||
a) | Name | Patrick Bergander | ||||
b) | Position / status | CEO Scandinavia | ||||
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 Performance Share award granted on 19 May 2014 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP). The vested shares are subject to a six month holding period which ends on 19 November 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
19,434
NIL | ||||
e) | Date of the transaction | 19 May 2018 | ||||
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 Performance Share award on 19 May 2014 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost and added to that award at vesting. The vested shares are subject to a six month retention period which ends on 19 November 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
1,667
NIL | ||||
e) | Date of the transaction | 19 May 2018 | ||||
f) | Place of the transaction | XLON London Stock Exchange
| ||||
1. | Details of PDMR / Closely Associated Person ("CAP") | |||||
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 Performance Share award granted on 18 May 2015 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP). The vested shares are subject to a six-month holding period which ends on 18 Nov 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
14,588
NIL | ||||
e) | Date of the transaction | 18 May 2018 | ||||
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 Performance Share award on 18 May 2015 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost and added to that award at vesting. The vested shares are subject to a six-month holding period which ends on 18 Nov 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
1,184
NIL | ||||
e) | Date of the transaction | 18 May 2018 | ||||
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 Bonus Deferral Share award granted on 18 May 2015 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP). The vested shares are subject to a six-month holding period which ends on 18 Nov 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
5,403 NIL | ||||
e) | Date of the transaction | 18 May 2018 | ||||
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 award on 18 May 2015 over Ordinary Shares under the terms of the RSA Performance Share Plan 2014 (PSP) at nil cost and added to that award at vesting. The vested shares are subject to a six-month holding period which ends on 18 Nov 2018. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
438 NIL | ||||
e) | Date of the transaction | 18 May 2018 | ||||
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 19 May 2017 under the RSA Performance Share Plan 2014. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
6,159
£6.562 | ||||
e) | Date of the transaction | 18 May 2018 | ||||
f) | Place of the transaction | XLON TRQX BXCE | ||||
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 18 May 2018 under the RSA Performance Share Plan 2014. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
10,190
£6.569927 | ||||
e) | Date of the transaction | 18 May 2018 | ||||
f) | Place of the transaction | XLON TRQX BXCE | ||||
Enquiries to:
Charlotte Heiss, Group Chief Legal Officer and Company Secretary
RSA Insurance Group plc
Tel: +44 (0) 20 7111 7000
Related Shares:
RSA.L