M&G PLC

Remuneration Information • Mar 31, 2023

National Storage Mechanism | Additional information

RNS Number : 0088V

M&G PLC

31 March 2023

M&G plc NEWS RELEASE

31 March 2023

M&G plc

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

Awards under the M&G Deferred Incentive Plan 2019 ('DIP')

On 31 March 2023, the Company granted deferred bonus short-term incentive ('STI') awards to the PDMRs set out below, under the DIP. The DIP awards granted represent a deferred proportion of the PDMRs' annual STI, granted as conditional awards over shares which are due to vest in April 2026. The DIP awards have been made using the average market share price for the three days preceding the award date, of £1.853.

In addition, certain conditional awards have been granted under the DIP to Ms. Shield in respect to awards forfeited from her previous employer. Specific vesting and holding periods apply in order to align to the terms of the awards forfeited. These DIP awards have been made using the average market share price for the three days preceding Ms. Shield's hire date of £1.986.

Awards under the M&G Performance Share Plan 2019 (the 'PSP')

On 31 March 2023, the Company granted nil-cost option PSP awards to the PDMRs set out below, under the PSP.

The PSP awards granted are subject to the achievement of performance conditions over a three-year period (with the exception of awards made to Mr. Grewal and Ms. Shield to which performance conditions do not apply). A subsequent two year holding period applies to the PSP awards with the exception of the award made to Ms. Shield. These PSP awards have been made using the average market share price for the three days preceding the award date, of £1.853.

In addition, certain nil-cost option awards have been granted to Ms. Shield in respect to awards forfeited from her previous employer. Specific vesting and holding periods, and where applicable performance conditions, apply in order to align to the terms of the awards forfeited. These PSP awards have been made using the average market share price for the three days preceding Ms. Shield's hire date, of £1.986.

Summary table

The below table summarises the above transactions for each PDMR:

Name	Number of shares awarded as conditional awards under the DIP	Number of shares awarded as nil-cost options under the PSP
Clare Bousfield	301,027	789,260
Jonathan Daniels	196,144	n/a
Peter Grewal	105,757	262,641
Matt Howells	70,011	384,511
Benoît Macé	21,137	323,799
Kathryn McLeland	118,111	704,263
Alan Porter	89,704	n/a
Andrea Rossi	68,742	1,180,518
Louise Shield	168,356	274,847

The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

Contact

Alan Porter, Group General Counsel and Company Secretary - 020 8162 4064

George Bayer, Deputy Company Secretary - PLC & Governance - 020 8162 2655  

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Clare Bousfield

2

Reason for the notification

a)

Position/status

Chief Executive Officer, Retail & Savings

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

b.    Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	301,027
b.	£1.853	789,260

Aggregated information

-Aggregated volume

-Price

1,090,287

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jonathan Daniels

2

Reason for the notification

a)

Position/status

Chief Investment Officer, M&G plc & Managing Director, M&G Asset Management

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	196,144

Aggregated information

-Aggregated volume

-Price

196,144

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Grewal

2

Reason for the notification

a)

Position/status

Group Chief Risk and Compliance Officer

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

b.    Award granted under the PSP due to vest in March 2026, and be exercisable from March 2028

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	105,757
b.	£1.853	262,641

Aggregated information

-Aggregated volume

-Price

368,398

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Matt Howells

2

Reason for the notification

a)

Position/status

Chief People Officer

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

b.    Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	70,011
b.	£1.853	384,511

Aggregated information

-Aggregated volume

-Price

454,522

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Benoît Macé

2

Reason for the notification

a)

Position/status

Chief Strategy and Transformation Officer

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

b.    Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	21,137
b.	£1.853	323,799

Aggregated information

-Aggregated volume

-Price

344,936

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kathryn McLeland

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

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

b.    Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	118,111
b.	£1.853	704,263

Aggregated information

-Aggregated volume

-Price

822,374

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alan Porter

2

Reason for the notification

a)

Position/status

Group General Counsel & 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

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	89,704

Aggregated information

-Aggregated volume

-Price

89,704

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andrea Rossi

2

Reason for the notification

a)

Position/status

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

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest and be released in March 2026

b.    Award granted under the PSP due to vest in March 2026, subject to the achievement of performance conditions, and be exercisable from March 2028

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.853	68,742
b.	£1.853	1,180,518

Aggregated information

-Aggregated volume

-Price

1,249,260

£1.853

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Louise Shield

2

Reason for the notification

a)

Position/status

Corporate Affairs Director

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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 5 pence each

GB00BKFB1C65

b) 

Nature of the transaction

a.    Award granted under the DIP to vest in March 2023 and be released in April 2024

b.    Award granted under the DIP to vest in March 2024 and be released in March 2025

c.     Award granted under the DIP to vest and be released in  April 2024

d.    Award granted under the DIP to vest and be released in March 2025

e.    Award granted under the DIP to vest in March 2025 and be released in March 2026

f.     Awards granted under the DIP to vest and be released in March 2026

g.    Awards granted under the DIP to vest and be released in March 2026

h.    Award granted under the DIP to vest in March 2026 and be released in March 2027

i.      Awards granted under the DIP to vest and be released in March 2027

j.     Award granted under the DIP to vest in March 2027 and be released in March 2028

k.    Award granted under the PSP due to vest in, and be exercisable from, April 2024, subject to the achievement of performance conditions

l.      Award granted under the PSP to vest in March 2024, subject to the achievement of performance conditions, and be exercisable from March 2025

m.   Award granted under the PSP to vest in March 2024, subject to the achievement of performance conditions, and be exercisable from March 2026

n.    Award granted under the PSP due to vest in, and be exercisable from, March 2026, subject to the achievement of performance conditions

o.    Award granted under the PSP to vest in March 2024, subject to the achievement of performance conditions, and be exercisable from March 2027

c)

Price(s) and volume(s)

Item	Price (s)	Volume (s)
a.	£1.986	16,356
b.	£1.986	15,045
c.	£1.986	15,686
d.	£1.986	13,931
e.	£1.986	13,793
f.	£1.853	60,010
g.	£1.986	8,692
h.	£1.986	9,226
i.	£1.986	7,618
j.	£1.986	7,999
k.	£1.986	26,911
l.	£1.986	55,638
m.	£1.986	55,638
n.	£1.853	107,933
o.	£1.986	28,726

Aggregated information

-Aggregated volume

-Price

443,202

£1.9356

Date of the transaction

2023-03-31

Place of the transaction

Outside a trading venue

LEI: 254900TWUJUQ44TQJY84

Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.

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