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Prudential PLC — Remuneration Information 2019
Mar 14, 2019
4668_dirs_2019-03-14_6304888f-c003-4656-91a2-b1f56435c520.html
Remuneration Information
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RNS Number : 9347S
Prudential PLC
14 March 2019
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
Michael Falcon
2
Reason for the notification
a)
Position/status
Executive Director (PDMR)
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prudential plc
b)
LEI
5493001Z3ZE83NGK8Y12
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
American Depository Receipt ("ADR")
74435K204
b)
Nature of the transaction
Grant of ADR options
In line with the announcement made on 12 October 2018, Prudential plc entered into an agreement on 14 March 2019 with Michael Falcon to replace unvested awards forfeited as a consequence of joining Prudential plc on 1 January 2019.
Under the agreement Mr Falcon has been granted an option entitling him to receive a cash amount equal to the market value of a specified notional number of Prudential ADRs on the date of exercise, less an option price of 12.642 cents (being the US $ equivalent of 10 pence per ADR on 19 December 2018, the last day of Mr Falcon's JP Morgan Asset Management employment). The option will vest on the dates detailed below:
| Exercise Period | Number of notional Prudential PLC ADRs |
| 25 October 2019 to 24 November 2019 | 11,224 |
| 30 days commencing on the date of release of Prudential plc's Full Year Results for 2019 | 30,938 |
| 30 days commencing on the date of release of Prudential plc's Full Year results for 2020 | 14,380 |
This replacement award has been made on a like-for-like basis, with the option exercisable in accordance with the original vesting timeframe which attached to the forfeited awards.
This arrangement has been put in place in accordance with Listing Rule 9.4.2, which allows an individual scheme to be put in place to assist with the recruitment of an executive director, and is consistent with Prudential plc's Directors' Remuneration Policy.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| USD 0.12642 | 56,542 |
d)
Aggregated information
- Aggregated volume
- Price
56,542
USD 0.12642
e)
Date of the transaction
2019-03-14
f)
Place of the transaction
New York Stock Exchange
Additional information
Prudential plc is not affiliated in any manner with Prudential Financial Inc., a company whose principal place of business is in the United States of America.
Contact
Chris Smith, Deputy Group Secretary, +44 (0)20 3977 9639
Jennie Webb, Share Plans Manager, +44 (0)20 3977 9750
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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