Direct Line Insurance Group PLC

Remuneration Information • Apr 2, 2019

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RNS Number : 8858U

Direct Line Insurance Group PLC

02 April 2019

DIRECT LINE INSURANCE GROUP PLC ("DLG")

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")

2 APRIL 2019

In accordance with DLG's remuneration policy, awards under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP") and the Direct Line Insurance Group plc Deferred Annual Incentive Plan (the "DAIP") have been granted to PDMRs over ordinary shares of 10 10/11 pence each in DLG.

For further information on DLG's remuneration policy please see our Directors' Remuneration Report which is available at:  www.directlinegroup.co.uk

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Penny James

2

Reason for the notification

a)

Position/status

Chief Financial Officer and CEO-designate / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of five years nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan; and

(ii)         Award of three years nil cost options under the Direct Line Insurance Group plc Deferred Annual Incentive Plan.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	191,614
(ii) Nil cost options	91,208

d)

Aggregated information

- Aggregated volume

- Price

282,822

N/A  

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Geddes

2

Reason for the notification

a)

Position/status

Chief Executive Officer/PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of three years nil cost options under the Direct Line Insurance Group plc Deferred Annual Incentive Plan; and

(ii)         Award of three years nil cost options under the Direct Line Insurance Group plc Deferred Annual Incentive Plan in respect of an adjustment to 2016's AIP out-turn for Ogden rate changes.  For further details please see page 95 of DLG's 2018 Report & Accounts.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	111,570
(ii) Nil cost options	31,386

d)

Aggregated information

- Aggregated volume

- Price

142,956

N/A  

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mike Holliday-Williams

2

Reason for the notification

a)

Position/status

Managing Director, Personal Lines / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of five years nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan;

(ii)         Award of three years nil cost options under the Direct Line Insurance Group plc Deferred Annual Incentive Plan; and

(iii)        Award of three years nil cost options under the Direct Line Insurance Group plc Deferred Annual Incentive Plan in respect of an adjustment to 2016's AIP out-turn for Ogden rate changes.  For further details please see page 95 of DLG's 2018 Report & Accounts.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	159,702
(ii) Nil cost options	64,761
(iii)Nil cost options	18,218

d)

Aggregated information

- Aggregated volume

- Price

242,681

N/A

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jonathan Greenwood

2

Reason for the notification

a)

Position/status

​​​​​​​​Managing Director, Commercial / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of three years nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan; and

(ii)         Award of three years nil cost options, including an adjustment for 2016's AIP out-turn for Ogden rate changes, under the Direct Line Insurance Group plc Deferred Annual Incentive Plan.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	84,017
(ii) Nil cost options	59,821

d)

Aggregated information

- Aggregated volume

- Price

143,838

N/A

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Simon Linares

2

Reason for the notification

a)

Position/status

Human Resources Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of three years nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan; and

(ii)         Award of three years nil cost options, including an adjustment for 2016's AIP out-turn for Ogden rate changes, under the Direct Line Insurance Group plc Deferred Annual Incentive Plan.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	85,161
(ii) Nil cost options	63,685

d)

Aggregated information

- Aggregated volume

- Price

148,846

N/A

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Steve Maddock

2

Reason for the notification

a)

Position/status

Chief Operating Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of three years nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan; and

(ii)         Award of three years nil cost options, including an adjustment for 2016's AIP out-turn for Ogden rate changes, under the Direct Line Insurance Group plc Deferred Annual Incentive Plan.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	105,840
(ii) Nil cost options	77,751

d)

Aggregated information

- Aggregated volume

- Price

183,591

N/A

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Humphrey Tomlinson

2

Reason for the notification

a)

Position/status

General Counsel / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of three years nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan; and

(ii)         Award of three years nil cost options, including an adjustment for 2016's AIP out-turn for Ogden rate changes, under the Direct Line Insurance Group plc Deferred Annual Incentive Plan.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	49,860
(ii) Nil cost options	30,363

d)

Aggregated information

- Aggregated volume

- Price

80,223

N/A

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jose Vazquez

2

Reason for the notification

a)

Position/status

Chief Risk Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

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, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

(i)         Award of three years nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan; and

(ii)         Award of three years nil cost options under the Direct Line Insurance Group plc Deferred Annual Incentive Plan.

c)

Price(s) and volume(s)

Price	Volume
(i) Nil cost options	90,216
(ii) Nil cost options	52,365

d)

Aggregated information

- Aggregated volume

- Price

142,581

N/A

e)

Date of the transaction

29 March 2019

f)

Place of the transaction

The London Stock Exchange (XLON)

For any enquiries relating to this announcement, please contact: 

Simon Watson

Deputy Company Secretary

Telephone: 01651 831911

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