AI assistant
Aviva PLC — Remuneration Information 2018
May 15, 2018
4708_dirs_2018-05-15_7cd0429f-a9e5-4c48-917f-57ec394fe1b7.html
Remuneration Information
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information
You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.
RNS Number : 1214O
Aviva PLC
15 May 2018
15 May 2018
AVIVA PLC ("Aviva")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
Aviva announces that:
· On 11 May 2018, the undernoted PDMRs were granted conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 ("LTIP").
· The LTIP awards for the PDMRs will vest in 2021 in accordance with the plan rules. LTIP awards for Executive Directors are subject to an additional two year post-vesting holding period and therefore will be released in 2023.
· The awards for the Executive Directors were previously disclosed in Aviva's 2017 Annual Report and Accounts, published on the 27th March 2018. The awards have been granted following the approval of Aviva's Remuneration Policy at its AGM on 10 May.
· The LTIP awards are subject to the achievement of performance targets (50% based on Operating Earnings per Share and 50% based on relative Total Shareholder Return against a comparator group). Any vesting of the Operating EPS element of the LTIP is subject to two gateway hurdles:
· The average Operating RoE over the 3-year performance period (2018 to 2020) must exceed 12% p.a.
· The Solvency II Shareholder Cover Ratio must be maintained at or above the minimum of our stated range - currently 150% to 180%.
These targets will be measured over a three year performance period from 1 January 2018 to 31 December 2020. The amounts shown below represent the maximum possible opportunity.
· In the case of Andy Briggs and Euan Munro, the awards are also subject to personal performance conditions, in line with CRD IV regulations.
· Under each of the LTIP awards, additional shares are awarded at vesting in lieu of dividends on shares that vest.
· The awards were made for nil consideration.
· The price used to calculate the number of LTIP shares awarded was £5.04, being the average of the mid-market closing price of an Aviva ordinary share on the three consecutive business days immediately proceeding 26 March 2018, in line with other employees.
| PDMRs | Number of LTIP shares awarded |
| Nitinbhai Amin | 198,412 |
| Andy Briggs | 325,892 |
| Kirstine Cooper | 198,412 |
| Angela Darlington | 198,412 |
| Euan Munro | 148,809 |
| Tom Stoddard | 317,857 |
| Maurice Tulloch | 310,863 |
| Chris Wei | 297,619 |
| Mark Wilson | 615,854 |
This announcement, in relation to transactions in London, United Kingdom, is made pursuant to with Article 19 of the EU Market Abuse Regulation 596/2014.
Media Enquiries:
Andrew Reid +44 (0)207 662 3131
Sarah Swailes +44 (0)207 662 6700
Share Award Enquiries:
Elena Petrou, Company Secretarial +44 (0)207 662 1268
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Nitinbhai Amin | |
| 2 | Reason for the notification | ||
| a) | Position/status | Group Chief Operations and IT 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 198,412 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 198,412 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Andrew Briggs | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief executive officer UK 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 325,892 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 325,892 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 198,412 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 198,412 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Angela Darlington | |
| 2 | Reason for the notification | ||
| a) | Position/status | Group Chief Risk 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 198,412 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 198,412 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 148,809 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 148,809 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Tom Stoddard | |
| 2 | Reason for the notification | ||
| a) | Position/status | 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 | 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 317,857 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 317,857 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Maurice Tulloch | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer, International 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 310,863 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 310,863 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Chris Wei | |
| 2 | Reason for the notification | ||
| a) | Position/status | Executive Chairman of Asia 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 297,619 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 297,619 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities | ||
| a) | Name | Mark Wilson | |
| 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 | Grant of conditional awards over Aviva plc ordinary shares under the Aviva Long Term Incentive Plan 2011 (LTIP). | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost option | 615,854 | ||
| d) | Aggregated information - Aggregated volume - Price |
Nil cost option | 615,854 |
| e) | Date of the transaction | 2018-05-11 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON |
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHGGUGAAUPRUBA