Hiscox Limited

Director's Dealing • Jun 27, 2024

National Storage Mechanism | Additional information

RNS Number : 0519U

Hiscox Ltd

27 June 2024

Hiscox Ltd

(the 'Company')

Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMR')

Hamilton, Bermuda - On 25 June 2024 options were granted, pursuant to the Hiscox UK Sharesave Plan, an "all-employee" share plan, to Aki Hussain, the Group Chief Executive Officer, to acquire 2,500 Ordinary Shares of 6.5p each in the Company ('Shares') with an exercise price of £7.20 per Share.

On 26 June 2024 awards in the form of nil-cost options over Shares were granted to the following Executive Directors under the Company's Performance Share Plan ('PSP') to correct a miscalculation in the PSP awards which were granted on 8 April 2024 ('Supplemental Awards').  The Supplemental Awards are subject to same vesting period and performance conditions as the original awards, with performance measured over the three financial years from 1 January 2024 to 31 December 2026 relating to growth in Net Asset Value (plus dividend and shareholder returns) and relative Total Shareholder Return. Further details in relation to the performance conditions will be included in the Directors' Remuneration Report for the 2024 financial year.

Details of the additional number of Shares over which PSP awards have been granted to each PDMR are set out in the table below.

H A Hussain	7,106
Paul Cooper	2,330
J R Musselle	2,330

Subject to the satisfaction of the performance conditions, awards will vest on 8 April 2027 and the Shares acquired will be subject to a two-year holding period.

The options and awards were granted in Bermuda.

The notifications set out below are made in accordance with the UK version of the EU Market Abuse Regulation (2014/596/EU) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

Marc Wetherhill

Company Secretary

Hiscox Ltd

+ 1 441 278 8300

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Hamayou Akbar (Aki) Hussain 

2

Reason for the notification

a)

Position/status

PDMR - Chief Executive Officer

b)

Initial notification /Amendment

Initial Notification

3

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

a)

Name

Hiscox Ltd

b)

LEI

5493007JXOLJ0QCY2D70

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 6.5 pence each

ISIN: BMG4593F1389

b)

Nature of the transaction

Grant of option under the Hiscox UK Sharesave Plan with an exercise price of £7.20 per share

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	2,500

d)

Aggregated information

- Aggregated volume

- Price

Aggregated Volume	Aggregated Price
2,500	nil

e)

Date of the transaction

2024-06-25

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Hamayou Akbar (Aki) Hussain 

2

Reason for the notification

a)

Position/status

PDMR - Group Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Hiscox Ltd

b)

LEI

5493007JXOLJ0QCY2D70

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 6.5p each

ISIN: BMG4593F1389

b)

Nature of the transaction

Grant of performance-based nil-cost option over shares under the Company's Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	7,106

d)

Aggregated information

- Aggregated volume

- Price

Aggregated Volume	Aggregated Price
7,106	nil

e)

Date of the transaction

2024-06-26

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Cooper

2

Reason for the notification

a)

Position/status

PDMR - Group Chief Financial Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Hiscox Ltd

b)

LEI

5493007JXOLJ0QCY2D70

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 6.5p each

ISIN: BMG4593F1389

b)

Nature of the transaction

Grant of performance-based nil-cost option over shares under the Company's Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	2,330

d)

Aggregated information

- Aggregated volume

- Price

Aggregated Volume	Aggregated Price
2,330	nil

e)

Date of the transaction

2024-06-26

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Joanne Musselle 

2

Reason for the notification

a)

Position/status

PDMR - Group Underwriting Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Hiscox Ltd

b)

LEI

5493007JXOLJ0QCY2D70

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 6.5p each

ISIN: BMG4593F1389

b)

Nature of the transaction

Grant of performance-based nil-cost option over shares under the Company's Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	2,330

d)

Aggregated information

- Aggregated volume

- Price

Aggregated Volume	Aggregated Price
2,330	nil

e)

Date of the transaction

2024-06-26

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHDGGDLSDDDGSL