Direct Line Insurance Group PLC

Remuneration Information • Nov 14, 2024

National Storage Mechanism | Additional information

RNS Number : 3149M

Direct Line Insurance Group PLC

14 November 2024

DIRECT LINE INSURANCE GROUP PLC ("DLG")

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

14 NOVEMBER 2024

Following the appointment of Jane Poole as Chief Financial Officer on 10 October 2024, a Restricted Share Award ("RSP") has been made to Ms Poole over ordinary shares of 10  10/11 pence each in DLG, to compensate her for remuneration arrangements forfeited on leaving her former employer. Performance conditions do not apply to the RSP awards.

In addition, and in accordance with DLG's remuneration policy, an award has been made to Ms Poole under the DLG 2020 Long Term Incentive Plan (the "LTIP") over ordinary shares of 10  10/11 pence each in DLG. The number of shares awarded under the LTIP is based on the average closing share price over the three trading days prior to the date of grant, equal to £1.65.

RSP Awards

The Remuneration Committee has approved the following awards to Ms Poole to compensate her for remuneration arrangements forfeited on leaving Aviva. Performance conditions do not apply to these awards.

Scheme Replaced	Number of options awarded	Normal Vesting Date
a)   Deferred bonus 2022	30,444	21/3/2025
b)   Deferred bonus 2023	44,903 44,906	21/3/2025 20/3/2026
c)   Deferred bonus 2024	41,332 41,332 41,334	28/3/2025 27/3/2026 25/3/2027
d)   LTIP 2022	150,149	21/3/2025
e)   LTIP 2022	25,044	11/8/2025
f)    LTIP 2023	136,128	20/3/2026
g)   One-off award 2024	76,468 76,468	22/9/2025 22/9/2026

All RSP awards will accrue dividend equivalent shares until vesting.

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014(as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jane Poole

2

Reason for the notification

a)

Position/status

Chief Financial 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 2020 Long Term Incentive Plan. The award represents the regular 2024 award, has a total face value of 200% of annual base salary and is subject to the same performance conditions as awards made to DLG's PDMRs earlier in the year (except that Total Shareholder Return will be measured over the three years commencing on the date of grant); and

(ii)        Award of nil cost options under the Restricted Share Plan.

c)

Price(s) and volume(s)

	Price	Volume
(i)	Nil cost options	668,693
(ii)	Nil cost options	708,508

d)

Aggregated information

- Aggregated volume

- Price

N/A  

e)

Date of the transaction

11 November 2024

f)

Place of the transaction

Off market

Following the appointment of Martin Milliner as Managing Director, Claims on 1 October 2024, awards have been made to Martin under the DLG RSP to compensate him for remuneration arrangements forfeited on leaving his former employer. Performance conditions do not apply to these awards.

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014(as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Martin Milliner

2

Reason for the notification

a)

Position/status

Managing Director, Claims / 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

Award of nil cost options under the Restricted Share Plan. The award vests in one tranche.

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	73,778

d)

Aggregated information

- Aggregated volume

- Price

N/A  

e)

Date of the transaction

11 November 2024

f)

Place of the transaction

Off market

For any enquiries relating to this announcement, please contact: 

Roger Clifton

Company Secretary

Email:  Roger.Clifton@directlinegroup.co.uk

LEI: 213800FF2R23ALJQOP04

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