Director's Dealing • Mar 30, 2020
Director's Dealing
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RNS Number : 0548I
Aviva PLC
30 March 2020
30 March 2020
AVIVA PLC ("Aviva")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
Aviva announces:
Aviva Annual Bonus Plan 2011 (ABP) and the Aviva Long Term Incentive Plan 2011 (LTIP)
· On 27 March 2020, in London, and in line with the normal timetable, the following PDMRs received Aviva ordinary shares of 25 pence each (Shares) following the vesting of awards granted in 2017, 2018 and 2019 under the ABP and in 2017 under the LTIP (the Plans) as previously announced.
· The LTIP awards vested at 50% following testing of Return on Equity (ROE) and Total Shareholder Return (TSR) performance factors, over a three-year period (1 January 2017 to 31 December 2019).
· Prior to joining the Aviva Leadership Team (ALT) some PDMRs were granted Restricted Stock Unit (RSU) awards. These awards do not have performance conditions.
| Name | ABP or LTIP/RSU | Price at which shares granted (pence) |
Shares received from ABP or LTIP awards | No. of shares sold | Price at which shares sold (pence) |
| Maurice Tulloch | ABP (2017) ABP (2019) LTIP |
530p 421p 530p |
50,719 17,977 84,783 |
- - - |
268.5p 268.5p 268.5p |
| Jason Windsor | ABP (2017) ABP (2018) ABP (2019) RSU |
530p 504p 421p 530p |
5,942 6,694 6,132 49,111 |
- - - |
268.5p 268.5p 268.5p 268.5p |
| Nitinbhai Amin |
ABP (2017) ABP (2019) LTIP |
530p 421p 530p |
34,438 12,521 59,892 |
- - - |
268.5p 268.5p 268.5p |
| Kirstine Cooper | ABP (2017) ABP (2019) LTIP |
530p 421p 530p |
29,646 8,826 59,892 |
- - - |
268.5p 268.5p 268.5p |
| Angela Darlington | ABP (2017) ABP (2019) LTIP |
530p 421p 530p |
32,341 8,757 59,892 |
- - - |
268.5p 268.5p 268.5p |
| Patrick Dixneuf | ABP (2017) ABP (2018) RSU |
530p 504p 530p |
9,904 30,509 90,895 |
- - - |
268.5p 268.5p 268.5p |
| Colm Holmes | ABP (2017) ABP (2018) ABP (2019) RSU |
530p 504p 421p 530p |
6,540 6,750 8,923 56,622 |
- - - - |
268.5p 268.5p 268.5p 268.5p |
| Euan Munro | ABP (2017) ABP (2019) LTIP |
530p 421p 530p |
108,563 30,596 44,919 |
- - - |
268.5p 268.5p 268.5p |
| Lindsey Rix | ABP (2017) ABP (2018) ABP (2019) RSU |
530p 504p 421p 530p |
4,364 4,435 3,849 31,743 |
- - - |
268.5p 268.5p 268.5p 268.5p |
| Chetan Singh | ABP (2017) ABP (2018) ABP (2019) RSU |
530p 504p 421p 530p |
7,439 6,322 6,259 40,726 |
- - - |
268.5p 268.5p 268.5p 268.5p |
| Chris Wei | ABP (2017) ABP (2019) LTIP |
530p 421p 530p |
110,300 37,414 164,603 |
- - - |
268.5p 268.5p 268.5p |
· In line with the 2018 Remuneration Policy, LTIP awards granted to Executive Directors are subject to a further two-year holding period following the sale to cover taxes. As Maurice Tulloch and Jason Windsor were not Executive Directors at the time of grant, their 2017 LTIP and RSU awards are not subject to the two-year holding period.
· As disclosed in the Aviva Annual Report, published on 25 March 2020, these shares vested in accordance with the rules of the Plans and following performance testing of the LTIP award. The grant of awards under the LTIP was for nil consideration.
· In 2017 Euan Munro received an award under the the Aviva Investors 2015 Long Term Incentive Plan ("AI LTIP"). The performance conditions for the 2017 AI LTIP were based on the delivery of compound annual growth in Aviva Investors' operating profit for a three-year performance period from 1 January 2017 to 31 December 2019. The performance conditions were not met and accordingly this award has lapsed in full.
· The releases under the ABP and LTIP include additional Shares received in lieu of dividends, which are subject to tax. The awards have been settled on a net-of-tax basis.
This announcement is made pursuant to Article 19 of the EU Market Abuse Regulation 596/2014. Aviva was notified of the above transactions on 27 March 2020.
Media Enquiries:
Andrew Reid +44 (0)7800 694276
Sarah Swailes +44 (0)207 662 6700
General Enquiries:
Elena Petrou, Company Secretarial +44 (0)207 662 1268
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | MAURICE TULLOCH | |
| 2 | Reason for the notification | ||
| a) | Position/status | 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 | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 136,717 ABP 2017 AND 2019 SHARES AND 171,729 LTIP 2017 SHARES. 153,479 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 153,479 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £412,091.12 2. £0 |
1. 153,479 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | NITINBHAI AMIN | |
| 2 | Reason for the notification | ||
| a) | Position/status | INTERIM CEO AVIVA INSURANCE IRELAND DAC | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 88,801 ABP 2017 AND 2019 SHARES AND 113,256 LTIP 2017 SHARES. 106,851 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 106,851 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £286,894.94 2. £0 |
1. 106,851 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | KIRSTINE COOPER | |
| 2 | Reason for the notification | ||
| a) | Position/status | GROUP GENERAL COUNSEL AND COMPANY SECRETARY | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 72,753 ABP 2017 AND 2019 SHARES AND 113,256 LTIP 2017 SHARES. 98,364 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 98,364 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £264,107.34 2. £0 |
1. 98,364 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | ANGELA DARLINGTON | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF EXECUTIVE OFFICER, UK LIFE | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 77,718 ABP 2017 AND 2019 SHARES AND 113,256 LTIP 2017 SHARES. 100,990 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 100,990 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £271,158.15 2. £0 |
1. 100,990 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | PATRICK DIXNEUF | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF EXECUTIVE OFFICER, AVIVA EUROPE AND AVIVA FRANCE | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 40,413 ABP 2017 AND 2018 SHARES AND 90,895 RSU 2017 SHARES. 131,308 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 131,308 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £352,561.98 2. £0 |
1. 131,308 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | COLM HOLMES | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF EXECUTIVE OFFICER, GENERAL INSURANCE | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 38,122 ABP 2017, 2018 AND 2019 SHARES AND 97,401 RSU 2017 SHARES. 78,835 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 78,835 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £211,671.98 2. £0 |
1. 78,835 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | EUAN MUNRO | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF EXECUTIVE OFFICER, AVIVA INVESTORS | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 263,168 ABP 2017 AND 2019 SHARES AND 84,942 LTIP 2017 SHARES. 184,078 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 184,078 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £494,249.43 2. £0 |
1. 184,078 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | LINDSEY RIX | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF EXECUTIVE OFFICER OF UK SAVINGS AND RETIREMENT | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 23,921 ABP 2017, 2018 AND 2019 SHARES AND 60,0276 RSU 2017 SHARES. 44,391 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 44,391 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £119,189.84 2. £0 |
1. 44,391 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | CHETAN SINGH | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF STRATEGY AND M&A OFFICER | |
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | AVIVA PLC | |
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | |
| 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 |
- SHARES - GB0002162385 |
|
| b) | Nature of transaction | VESTING OF 37,860 ABP 2017, 2018 AND 2019 SHARES AND 77,014 RSU 2017 SHARES. 60,746 SHARES RETAINED. |
|
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 1. £2.685 2. £2.685 |
1. 60,746 2. 0 |
||
| d) | Aggregated information - Aggregated volume - Price |
1. £163,103.01 2. £0 |
1. 60,746 2. 0 |
| e) | Date of the transaction | 2020-03-27 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
| a) | Name | CHRIS WEI | ||
| 2 | Reason for the notification | |||
| a) | Position/status | EXECUTIVE CHAIRMAN OF ASIA AND FPI AND GLOBAL CHAIRMAN AVIVA DIGITAL | ||
| b) | Initial notification/Amendment | INITIAL NOTIFICATION | ||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | AVIVA PLC | ||
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | ||
| 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 |
- SHARES - GB0002162385 |
||
| b) | Nature of transaction | VESTING OF 151,254 ABP 2017 AND 2019 SHARES AND 169,885 LTIP 2017 SHARES. 312,317 SHARES RETAINED. |
||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 1. £2.685 2. £2.685 |
1. 312,317 2. 0 |
|||
| d) | Aggregated information - Aggregated volume - Price |
1. £838,571.15 2. £0 |
1. 312,317 2. 0 |
|
| e) | Date of the transaction | 2020-03-27 | ||
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | ||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
| a) | Name | JASON WINDSOR | ||
| 2 | Reason for the notification | |||
| a) | Position/status | CHEIF 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 | AVIVA PLC | ||
| b) | LEI | YF0Y5B0IB8SM0ZFG9G81 | ||
| 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 |
- SHARES - GB0002162385 |
||
| b) | Nature of transaction | VESTING OF 35,494 ABP 2017, 2018 AND 2019 SHARES AND 92,870 RSU 2017 SHARES. 67,879 SHARES RETAINED. |
||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 1. £2.685 2. £2.685 |
1. 67,879 2. 0 |
|||
| d) | Aggregated information - Aggregated volume - Price |
1. £182,255.12 2. £0 |
1. 67,879 2. 0 |
|
| e) | Date of the transaction | 2020-03-27 | ||
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | ||
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 [email protected] or visit www.rns.com.
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